Returnable Transport Packaging Market size to grow by US$ 45.73 billion by 2033
The returnable transport packaging systems market is set for a rapid growth over the forecast period. In terms of revenue, The returnable transport packaging market is estimated to secure a valuation of US$ 27.81 billion in 2023 and is estimated to rise to US$ 45.73 billion by 2033. The market is capturing a CAGR of 5.1% during the forecast period.
Consumers from developed markets, as well as high-potential emerging markets, are opting for returnable transport packaging solutions. The global trade for industrial products has seen a 3 times growth during the past decade. The demand is also anticipated to be driven by the increased use of larger, higher-valued returnable transport packaging, which certifies improved performance and reduced cost in the long run, as compared to smaller returnable transport packaging solutions which generally have shorter service lives.
Global Returnable Transport Packaging (RTP) Market: Overview
Returnable transport packaging (RTP) comprises of several packaging solutions like pallets, crates, drums, and dunnage bags. The key objective of returnable transport packaging is to provide safe and secure transportation of goods & products throughout the entire supply chain system.
Global Returnable Transport Packaging (RTP) Market: Growth Factors
Returnable transport packaging solutions are used for the transportation of several goods from end-use sectors such as food & beverages, chemicals, building & construction, etc. Additionally, returnable transport packaging is a reverse logistics system which helps in refining the supply chain. This, in turn, will accelerate the growth of returnable transport packaging (RTP) market in the foreseeable future.
The rise in the demand for returnable transport packaging solutions such as industrial drums, pallets, etc. is expected to result from the expanding intercontinental trade. Subsequently, the acceptance of returnable transport packaging has increased among industrial users, thereby steering the growth of returnable transport packaging (RTP) market in the years ahead.
End-users from developed markets as well as high-potential emerging markets are opting for returnable transport packaging solutions. The global trade for industrial products has seen a massive surge over the past decade. The demand is also anticipated to be driven by the increased use of larger, higher-valued returnable transport packaging, which certifies improved performance and reduced cost in the long run, as compared to smaller returnable transport packaging solutions which generally have shorter service lives. All these aforementioned factors are likely to sketch a profitable roadmap for the returnable transport packaging (RTP) market in the years ahead.
Global Returnable Transport Packaging (RTP) Market: Segmentation
The global returnable transport packaging (RTP) market can be classified based on material type and application. Based on the material type, the returnable transport packaging (RTP) market can be sectored into Plastic, Metal, and Wood. On the basis of application, the market can be classified into Automotive, Food & Beverage, and Consumer Goods.
Global Returnable Transport Packaging (RTP) Market: Regional Analysis
Based on regions, the global returnable transport packaging (RTP) market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Latin America returnable transport packaging (RTP) market is likely to witness a lucrative growth over the forthcoming years, owing to the enormous presence of manufacturers in the region. In addition, the availability of natural resources in large quantities along with easy access to low-cost labor and rapidly expanding consumer business will propel the market size in the region. Furthermore, the growth potential of the region is leveraged by the
emerging middle-class population forming the major consumer base for consumer goods, prepared foods, electronics, etc. Strong relationships with the regional partners have been a very important strategy adopted by the giant players in the region to expand their business. This will further steer the returnable transport packaging (RTP) market progression in Latin America. Food and beverages are the major contributors to RTP revenues in the region. The growth prospects of the retail sector and pharmaceutical in the region are boosting the overall growth of the market. The government initiatives for sustainable development further help the market to grow.
North America, Asia Pacific, and European markets are projected to contribute substantially towards the global market earnings and have huge growth prospects.
Global Returnable Transport Packaging (RTP) Market: Competitive Players
Some of the key players in returnable transport packaging (RTP) market are:
- Greif Inc.
- Brambles Limited
- Mauser Packaging Solutions
- Schoeller Allibert Services B.V
- DS Smith Plc
- Time Technoplast Ltd.
- Berry Global Inc
- Cordstrap B.V
- Schuetz GmbH & Co. KGaA
- Supreme Industries Limited
- PalletOne Inc
- Balmer Lawrie & Co. Ltd.
- Craemer Holding GmbH
- Cabka Group GmbH
- Bulk Lift International Inc
- Thielmann US LLC
- TranPak Inc
- Rehrig Pacific Company Inc.
- Myers Industries Inc.
- Snyder Industries Inc.
Global Returnable Transport Packaging (RTP) Market: Segment Analysis
By Material Type
- Plastic
- Metal
- Wood
By Application
- Automotive
- Food & Beverage
- Consumer Goods
By Region
- North AmericaThe U.S.
- EuropeThe UKFranceGermany
- The Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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