In 2021, the market for reusable packaging was estimated to be worth approximately $98.5 billion. From 2022 to 2032, the market is anticipated to expand at a respectable CAGR of 5.5% and reach a value of US$ 177.0 billion.
The term “reusable packing market” describes the use of packaging options that can be used repeatedly as opposed to conventional packaging options, which are made to be used just once before being thrown away. The materials used to create these solutions are frequently strong, hygienic, and long-lasting.
There are several financial and environmental advantages to reusing packaging. The field of reusable packing includes a number of product types, including pallets, crates, boxes, dunnage and drums. This kind of packaging is used in both consumer and industrial settings.
The goal of manufacturers is to create products that are robust, long-lasting, and versatile. The global market is anticipated to be driven by the quick growth of e-commerce and the rising internet penetration rate in emerging economies.
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Moreover, reusable packing is extensively used in the food & beverage industry due to its ability to provide sustainability and ecological balance. This type of packaging helps in delivering a more secure transportation option in the food and beverage industry.
More Details on the Report on the Global Reusable Packaging Market
In its latest report, Future Market Insights presents a frank analysis of the global market for reusable packing by materials (plastic, metal, wood, glass, and foam), by product type (pallets, crates, dunnage, intermediate bulk containers (IBC), boxes, and drums & barrels), by end-use industry (food & beverages, automotive, chemicals, building & construction, pharmaceuticals, logistics & transportation, and consumer durables), and by seven geographic regions.
Key Takeaways from Global Reusable Packing Market
- By material, the plastic segment is set to grow at 7.5% CAGR during the forecast period.
- Based on material, the pallets segment is estimated to hold around 49.4% of the global market share in the evaluation period.
- The U.S. reusable packing market is expected to grow at 4.2% CAGR from 2022-2032.
- Top 3 countries are set to generate a share of nearly 39.3% in the global reusable packing market during the evaluation period.
- The global reusable packing market is estimated to be valued at US$ 103.4 Bn in 2022.
Relatively low cost and numerous beneficial properties of reusable pallets, including easy transportation, robust strength, and lightweight nature are likely to spur their demand in the upcoming decade,” comments a FMI analyst.
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High Demand for Cost-efficient Packaging is Propelling the Demand for Reusable Packing
Reusable packing is gaining traction in recent years due to its various advantages. This type of packing is not only environmentally friendly but also cost efficient. As compared to single-use packaging, reusable packing can be used multiple times. It is stronger as it is designed for more than one use. Customers do not need to invest their time and money repeatedly in re-purchasing packing materials.
Easy Availability of Pallets and Low Cost of Production Are Pushing the Market
Pallets are anticipated to generate more than 49% of the global reusable packing market share in the next decade. It is estimated that pallets would exhibit an exponential growth of 1.8 times by the end of 2032. Easy availability of raw materials and low cost of production of pallets are anticipated to aid growth. As pallets are sustainable and cost-effective compared to other fossil fuel-based materials, they are extensively used in the logistics and transportation industry.
Competitive Landscape: Reusable Packing Market
Some of the leading companies present in the global reusable packing market are Tri-pack Packaging Systems Ltd, Brambles, DS Smith, IPL Plastics, Menasha Corporation, Myers Industries, Nefab Group, Rehrig Pacific Company, Schoeller Allibert, Schütz GmbH & Co. KGaA, Vetropack Holding, Buckhorn, IFCO SYSTEMS, RPP Containers, Amatech, ORBIS Corporation, Alpega Group, and GEFCO.
Global Reusable Packing Market Outlook by Category
By Material:
- Plastic
- Metal
- Wood
- Glass
- Foam
By Product Type:
- Pallets
- Crates
- Dunnage
- Intermediate Bulk Containers (IBC)
- Boxes
- Drums & Barrels
By End-use Industry:
- Food & Beverages
- Automotive
- Chemicals
- Building & Construction
- Pharmaceuticals
- Logistics & Transportation
- Consumer Durables
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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