Returnable packaging is one of the innovations that has facilitated the transportation of goods in bulk, safely and in time. The returnable packaging industry 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 Major Driving Factors of Returnable Packaging Industry
The increasing globalization and international trade are majorly driving the returnable packaging market. 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. 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 industry.
The Plastic Segment held the Largest Market Share in the Returnable Packaging Industry
The returnable packaging market is segmented on the basis of material type, type, and application. The material type in returnable packaging is classified into plastic, metal, wood and other materials. The plastic segment held the largest market share among the material type for returnable packaging owing to its lightweight and ability to be molded into different shapes and appearances.
The type of returnable packaging includes containers, drums & barrels, pallets, crates, and protective dunnage. The containers segment dominated the type owing to the rising demand from pharmaceutical and cargo industries and customization of packaging containers according to the customer’s requirement. The application of the returnable packaging is categorized into food & beverage, pharmaceutical & healthcare, consumer electronics, automotive and other applications.
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