According to a new market study by Contrive Datum Insights (CDI), the market for returnable packaging is projected to grow healthily between 2021 and 2028.
Returnable Transport Package (RTP) is considered to be extremely safe and effective, which facilitates adoption in many end-use industries such as food & beverage, buildings and construction and chemicals, among others. In addition, these packaging solutions can be reused and recycled, which mutually benefits manufacturers and end users.
In the recent past, there has been an increase in the number of commercial activities – both domestic and international – resulting in a further increase in demand for RTP solutions. Similarly, the increasing adoption of RTP among industrial users in conjunction with project advances will continue to fuel market growth.
According to similar lines, the wide range of availability of different RTP products, each for different applications, such as IBCs, FIBC bags, pallets, drums, layer pads, plastic boxes and bags of different capacities complement market growth. For example, intelligent flexible intermediate container technologies (FIBCs) are gradually replacing corrugated boxes when transporting organic products to developing areas.
“Market participants are focusing on meeting the challenges posed by the lack of infrastructure and the weaker supply chain potential for expanding their profit margins,” said the CDI analyst.
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Returnable Transport Packaging Market – Basic Routes
- The global market for returnable transport packages was estimated at $ 21 billion in 2017 and is projected to achieve a valuation of US $ 34 billion by 2028, with a CAGR growth of 4.7%.
- Plastic-based RTP products are expected to be the most kind of material due to their ease of availability, low operating costs and timely penetration.
- In terms of end-use, the food and beverage and building and construction sectors account for the majority of revenues supported by the need for secure means of transport.
Returnable transport packaging market – Basic trends
- The penetration of smart technologies in the packaging industry is expected to emerge as a profitable trend in the RTP market.
- Smart Pallets and Boxes with Radio Frequency Identification (RFID) microchips offer advanced features such as packet tracking, data tracking and inventory management, which fuel market growth.
Purchase of returnable transport packaging – Regional analysis
- East Asia and North America are expected to account for more than half of world value, with the former being the largest regional market.
- East Asia is expected to make progress at CAGR 5.7% due to the growing number of commercial activities in the region cooperating with the expansion of the construction sector.
Returnable transport packaging market – competitive landscape
Some of the key players in the market include Greif, Inc., Brambles Limited, Mauser Packaging Solutions, Schoeller Allibert Services BV, DS Smith Plc, Time Technoplast Ltd., Berry Global, Inc, Cordstrap BV, Schuetz GmbH & Co. KG. KGaA, Supreme Industries Limited and PalletOne, Inc., among others. Market participants are focusing on expanding their geographical footprint and on mergers and acquisitions to achieve the same.
- Craemer Holding GmbH acquired Telford Factory in the United Kingdom to increase pallet production.
- Mauser Packaging Solutions Announces Acquisition of Plastic Manufacturing Engineered Recycling Company, LLC (ERC)
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Purchase of packaged transport – classification
1 – IBC
2 – Pallets
3 – Plastic boxes
4 – Mattress pads
5 – Drums
6 – Dunnage Bags
- Plastic items
- Construction of a building
- Rest of Latin America
- United Kingdom
- Rest of Europe
- Rest of South Africa
- South Korea
- Rest of East Asia
- New Zealand
- North Africa
- South Africa
- MEA balance
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