The global returnable transport packaging market was valued at US$ 21,104.8 Mn in 2017, and is estimated to reach US$ 34,666.6 Mn, by 2028, registering a CAGR of around 4.7% during the forecast period, i.e. 2018-2028.
Returnable transport packaging (RTP) comprises of several packaging solutions like pallets, crates, drums, and dunnage bags. The key objective of returnable transport packaging is to provide safe and secure transportation of goods & products throughout the entire supply chain system. Returnable transport packaging solutions are used for the transportation of several goods from end-use industries like food & beverages, chemicals, building & construction, etc. In addition, returnable transport packaging is a reverse logistics system which helps in refining the supply chain.
Request For Report Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4795
Flourishing Intercontinental Trade is Fuelling the Demand for Returnable Transport Packaging Solutions
The growth in demand for returnable transport packaging solutions such as industrial drums, pallets, etc. is expected to result from the expanding intercontinental trade. Subsequently, the acceptance of returnable transport packaging has increased among industrial users. The returnable transport packaging market has constantly reflected the up-gradation in product design, which eventually increases the value for the end user. From old designs of wooden drums to improved and lightweight fibre drums, the global returnable transport packaging market is witnessing a transition.
Consumers from developed markets, as well as high-potential emerging markets, are opting for returnable transport packaging solutions. The global trade for industrial products has seen a 3x growth during the past decade. The demand is also anticipated to be driven by the increased use of larger, higher-valued returnable transport packaging, which certifies improved performance and reduced cost in the long run, as compared to smaller returnable transport packaging solutions which generally have shorter service lives.
Returnable Transport Packaging Solutions such as Flexible IBCs Fast Replacing Corrugated Boxes, in Large-volume Fresh Produce Exports
Exploring untapped regions for exports will create ample opportunities for the growth of the returnable transport packaging market. For example, Europe has a high quantity of fresh organic produce. Shipping of these organic products across several developing regions will require the use of returnable transport packaging like bulk bags, further strengthening the market in this region.
Flexible intermediate bulk containers (FIBCs) is a type of returnable transport packaging which is one of the most suitable options for the export of food products. FIBC bags are replacing corrugated boxes as they are more durable and lighter. The single-use property of returnable transport packaging solutions like FIBC bags eliminates the possibility of contamination and also eliminates the need for cleaning.
Conitex Sonoco USA Inc., a manufacturer of FIBCs, launched BulkSak, a web-enabled program which can provide access to a wide range of ready-to-ship FIBCs.
Smart Pallets & Crates Gaining Momentum in Cargo Tracking Applications
Smart pallets & crates comprise of radio frequency identification (RFID) microchips placed inside pallets and crates, to collect information in real time. These have advanced features such as product tracking, asset tracking, and inventory management. In the coming years, the need for smarter pallets & crates in the returnable transport packaging market is anticipated to increase as the supply chain becomes more automated. Furthermore, the use of RFID tags, especially in plastic pallets and crates, to track a product is expected to gain traction in the returnable transport packaging market in the near future. Additionally, vendors have started using robots for processes such as nailing, dismantling, and repair of pallets and crates.
Key Developments in the Global Returnable Transport Packaging Market
Manufacturers in the returnable transport packaging market are actively focusing on increasing the global footprint of returnable transport packaging solutions through acquisitions.
Several manufacturers are adopting an acquisition strategy for their market expansion. Craemer Holding GmbH acquired Telford Factory in the U.K. to increase its pallet production capacity Mauser Packaging Solutions announced the acquisition of Engineered Recycling Company, LLC (ERC), a plastic manufacturer
Manufacturers in the returnable transport packaging market are considering expansion by improving their manufacturing and sales facilities.
Greif, Inc. deployed 3,000 new trailers to serve its customers throughout North America
Mauser Packaging Solutions announced the start of three new production lines in St Priest, France by 2017
Request For Report Table of Content (TOC): https://www.futuremarketinsights.com/askus/rep-gb-4795
Competitive Landscape Analysis
Key players profiled in the report on the global returnable transport packaging market include – Greif, Inc., Brambles Limited, Mauser Packaging Solutions, Schoeller Allibert Services B.V, DS Smith Plc, Time Technoplast Ltd., Berry Global, Inc, Cordstrap B.V, Schuetz GmbH & Co. KGaA, Supreme Industries Limited, PalletOne, Inc, Balmer Lawrie & Co. Ltd., Craemer Holding GmbH, Cabka Group GmbH, Bulk Lift International, Inc, Thielmann US LLC, TranPak, Inc, Rehrig Pacific Company, Inc., Myers Industries, Inc., and Snyder Industries, Inc.
The global returnable transport packaging market has several unorganized and local players. Moreover, the returnable transport packaging market has witnessed the trend of rental and pooling business over the past few years.