A recent report published by Infinium Global Research on returnable packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional returnable packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional returnable packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global returnable packaging market. According to the report, the global returnable packaging market is projected to grow at a CAGR of 7.35% over the forecast period of 2019-2025.
The growth transportation and logistics industry are changing the dynamics of the bulk packaging market. Globalization and international trade have flourished in various industries and also brought evolution to the bulk packaging sector. Returnable packaging is one of the innovations that has facilitated the transportation of goods in bulk safely and in time. The returnable packaging market is highly competitive with the key players contending for their share in the market. The major players including Nefab Packaging Inc, Myers Industries, Inc., Kuehne + Nagel International AG, IFCO SYSTEMS N.V., Schoeller Allibert Services BV, Schutz GmbH & Co. KGaA, Amatech Inc. and others are focusing more on launching new products, exploiting their reach in emerging countries, and collaborations to stand in this competitive market.
The increasing globalization and international trade are majorly driving the returnable packaging market. As the nations of the world are connected, the trade between them has increased. This has increased demand for the packaging of goods in bulk and returnable packaging is a suitable option. Moreover, the rising demand from various end-use industries including food & beverages, automotive, and consumer durables are expanding the demand for returnable packaging. Furthermore, the cost-effectiveness of returnable packaging is supporting the growth of the returnable packaging market. The returnable packaging helps in the timely and safe transportation of the goods, which saves the time and cost of the end-users. However, the stringent regulations regarding transport and logistics are the major restraining factor for the growth of the returnable packaging market. Nevertheless, the increasing demand for biodegradable returnable packaging is expected to offer lucrative opportunities for the key players in the returnable packaging market.
In terms of geography, North American generated the highest revenue, dominating the global returnable packaging market. The largest market share of North Americans attributed to the strong industrial base and high demand for sustainable packaging from various industries. Moreover, the demand for large retailers for block pallets in the region is expected to boost the growth of the returnable packaging market in North America.
The report on global returnable packaging market covers segments such as material type, type, and application. On the basis of material type, the sub-markets include plastic, metal, wood, and other materials. On the basis of type, the sub-markets include containers, drums & barrels, pallets, crates, and protective dunnage. On the basis of application, the sub-markets include food & beverage, pharmaceutical & healthcare, consumer electronics, automotive, and other applications.
The report provides profiles of the companies in the market such as Nefab Packaging Inc, Myers Industries, Inc., Kuehne + Nagel International AG, IFCO Systems N.V., Schoeller Allibert Services BV, Schutz GmbH & Co. KGaA, Amatech Inc., Rehrig Pacific Company, IPL Plastics Inc., Orbis Corporation, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of returnable packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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