The Returnable Packaging Market is projected to grow from USD 37.9 billion in 2018 to reach USD 51.2 billion by 2023, at a CAGR of 6.2% from 2018 to 2023.

Browse 78 market data Tables and 38 Figures spread through 135 Pages and in-depth TOC on "Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, Region - Global Forecast to 2023".

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Based on material, the plastic segment of the returnable packaging market is projected to grow at the highest CAGR during the forecast period, in terms of value. It is projected to be closely followed by the wood segment. The growth of the plastic segment of the market can be attributed to the increasing use of plastic for producing returnable packaging. Plastic packaging comprises a wide range of synthetic and semi-synthetic materials that can be molded into various shapes and sizes. Due to its low cost, versatility, and easy availability, plastic packaging is employed in numerous industries such as food & beverages, automotive, and consumer durables. Properties such as durability, safety, hygiene, and lightweight of plastic packaging have contributed to its popularity among consumers.

Based on product type, the pallets segment is projected to lead the returnable packaging market from 2018 to 2023, in terms of value and volume. Pallets not only offer protection to shipped goods from mechanical ruptures but also result in their easy handling. The reusable and recyclable nature of pallets results in less packaging waste. This has resulted in an increased demand for returnable pallets from various industries such as food & beverages, automotive, agriculture, building & construction, clothing, freight forwarding, logistics, electronics, and pharmaceuticals.

Recent Developments
• In October 2018, Schoeller Allibert launched Combo Excelsior IBC, a new standard foldable intermediate bulk container for the international logistics. This product is designed specifically for the cosmetics, food processing, and pharmaceutical industries.
• In May 2018, ORBIS Corporation, a subsidiary of Menasha Corporation, acquired Hinkle Manufacturing (US). Hinkle serves the automotive industry with highly customized dunnage and produces trays and other plastic components. This strategic initiative is expected to expand the custom reusable packaging products portfolio of ORBIS.
• In October 2018, DS Smith Plastics launched the addition of a new feature, Advanced C, to its AkyPak Returnable Containers product line. It is a single flat-deck bulk container that does not require additional layer pads at the bottom of the container and is easy to clean.
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Brambles (Australia), Schoeller Allibert (Netherlands), Menasha Corporation (US), DS Smith (UK), Myers Industries (US), Nefab Group (Sweden), Rehrig Pacific Company (US), IPL Plastics (Ireland), Schutz GmbH & Co. KGaA (Germany), and Vetropack Holding (Switzerland) are the key players operating in the returnable packaging market.

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