Global Returnable Packaging Market to Witness Widespread Expansion by 2026

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science-technology

Summary

Browse 96 market data Tables and 36 Figures spread through 161 Pages and in-depth TOC on "Global Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, and Region - Global Forecast to 2026

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The report Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, and Region – Global Forecast to 2026″, MarketsandMarkets expects the global returnable packaging market size to grow from USD 104.9 billion in 2021 to USD 141.7 billion by 2026, at a CAGR of 6.2% from 2021 to 2026.

Browse 96 market data Tables and 36 Figures spread through 161 Pages and in-depth TOC on “Global Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, and Region – Global Forecast to 2026 “

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Returnable packaging is an environment-friendly and cost-effective alternative to one-way packaging products. This method is generally used by manufacturers/processors and their suppliers/customers in an organized supply chain with closely managed shipping loops. Returnable packaging is manufactured from durable materials such as plastics, wood, or metal and is designed to withstand rough handling of a typical logistics system. In comparison to one-way packaging, returnable packaging offers numerous benefits in terms of economic benefits which include direct savings in packaging purchase and disposal cost; appealing aesthetics; and durability.

Based on end-use industry, automotive segment is projected to be the larger segment in the returnable packaging market. The global automotive industry is characterized by the presence of complex supply chains and networks, requiring several processes to be integrated to enable inbound and outbound flow of returnable packaging. Several OEMs today are using returnable packaging to enhance the efficiency of their operations by reducing the lead time of delivering products back to manufacturers/suppliers.

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The returnable packaging market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The Europe region accounted for the largest market share in 2020, in terms of both value and volume. Furthermore, the market for returnable packaging in the APAC region is projected to grow at the highest CAGR from 2021 to 2026, in terms of both value and volume.

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