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The global returnable transport packaging market size will grow by USD 3.1 billion during 2019-2023. This report provides a detailed analysis of the market by product (containers, pallets, drums and barrels, and other products) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several returnable transport packaging companies including Brambles, DS Smith, Greif, NEFAB GROUP, and Schoeller Allibert.
Some of the key findings from our returnable transport packaging market forecast report are summarized below
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The use of RFID technology in returnable transport packaging products has enabled monitoring, controlling, and tracking of the products throughout the supply chain. RFID technology helps in improving supply chain visibility by allowing the tracking of products from the manufacturing unit to retail stores. The chances of pallets being stolen and misplaced is also eliminated using RFID-enabled pallets. Moreover, RFID tags can also provide the real-time status of pallets to manufacturers, retailers, and logistics providers when connected with shock sensors. Such benefits of RFID technology will boost its adoption in returnable transport packaging.
Returnable transport packaging products are lightweight and help in saving space during transit, which will help reduce transportation costs. Though returnable packaging products are more expensive than single-use packaging products, it helps save packaging costs in the long run as it is not required to purchase them repetitively. By adopting returnable transport packaging products, end-users can realize a saving of around 20%-25% in their overall distribution costs. These long-term saving opportunities provided by returnable transport packaging is expected to drive its demand during the next five years. The global returnable transport packaging market is expected to register a CAGR of almost 8% during the forecast period. However, the market’s growth momentum will decelerate in the coming years because of the decrease in year-over-year growth.
The global returnable transport packaging market is moderately fragmented. To help clients improve their revenue share, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by companies. Additionally, this returnable transport packaging industry analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.
The report offers a detailed analysis of several leading companies, including:
The containers segment will account for the highest returnable transport packaging market share because of the growth in the retail industry. This report provides an accurate prediction of the contribution of all the segments to the growth of the returnable transport packaging market size.
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest returnable transport packaging market share throughout the forecast period. The growth of the packaged food market in the US and retail sales growth in Canada are some of the factors driving returnable transport packaging market growth in this region.
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