Global Returnable Packaging Market by Material Types, End-user Industries, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Returnable Packaging Market is valued to reach USD 52.4 Billion by 2023, growing at CAGR of 6.4% over the forecast period 2020–2026. Rapid urbanization, increasing preference for sustainable packaging solutions, cost-effectiveness of returnable packaging coupled with increasing focus on reusing materials are the key factors augmenting the market.

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The growth of returnable packaging systems market is driven by demands from food & beverage, consumer good, pharmaceuticals and automotive industry. Due to its durability and robust performance, returnable packaging is preferred in various end use applications which in turn surges demand for returnable packaging systems markets. Rising level of wages in developing countries is expected to significantly increase consumer spending which in turn will support growth of the returnable packaging systems market. Substantially increasing global vehicle production is also expected to support the growth of the market.

However, though returnable packaging system reduces packaging purchase and disposal costs but at the same time logistics cost is increased due to need to control return cycle. Hence higher cost is a factor which could hamper growth of the market. Further, existing economic uncertainty in some countries of Asia and Latin America could hamper growth of the market.

Market Dynamics:

Rising popularity of returnable packaging due to their superior product protection quality is accelerating their demand.
The market is supported by economical growth in the developed region, which is resulting into the rise in the demand for packaged food products and beverages thus, driving the demand for this packaging.
Increasing inclination toward sustainable development is boosting the demand for returnable packaging due to their reduced environmental impact. This, in turn, is expected to create lucrative opportunity in the coming years.