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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In terms of value and volume, the automotive segment is estimated to lead the returnable packaging market in 2018.
The global automotive industry is characterized by the presence of complex supply chains and networks that require several processes to be integrated to enable the inbound and outbound flow of returnable packaging. Currently, several Original Equipment Manufacturers (OEMs) are using returnable packaging to enhance the efficiency of their operations by reducing the lead time required for delivering products back to manufacturers/suppliers. Returnable containers are widely used by automotive manufacturers to transport different parts of automotive components to suppliers of components. The demand for returnable packaging is continuously increasing in the automotive industry due to the pressure of cost reduction exerted on OEMs to handle competition in the market.

In terms of value and volume, the European region is projected to lead the returnable packaging market during the forecast period.
The European region is projected to lead the returnable packaging market, in terms of both, value and volume, from 2018 to 2023. The growth of the Europe returnable packaging market can be attributed to the increased awareness among consumers regarding sustainable packaging and a strong industrial base in the region. The market for returnable packaging in the European region is also supported by improvements in the economy of the region and rise in the domestic demand for packaged food products and beverages. Moreover, the increased awareness among the masses for reducing packaging waste is also expected to drive the market for returnable packaging in the European region.

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.

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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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