North America Returnable Packaging Market Outlook, 2027

North America Returnable Packaging Market Outlook, 2027

Urbanization, rapid growth, and the expansion of various industries are driving factors for the robust growth of the returnable packaging market. The returnable packaging market is bound to expand because of the demand for sustainable packaging solutions by various end-use industries and customers alike. Consumers are focusing on sustainability and innovative products; the returnable packaging market has shown immense growth in the past years as well as in the forecast period. Returnable packaging is made from durable materials and it protects the products from damage during the whole supply chain process. It is the responsibility of the manufacturers that the products are maintained and transported safely to the consumer at the end of the supply chain process. Returnable packaging solutions are products that are designed for long-lasting use in a system that ensures their effective recovery and return for continuous purpose. Manufacturers are increasingly investing in returnable packaging solutions because of the cost-effective solutions for the shipments of their products. The increased demand for grocery retail is the main factor driving the returnable packaging market growth in the North American region, although factors such as high initial investment and operational costs may affect the market growth. Governments are also emphasizing the use of returnable packaging solutions for various industries because this packaging system is environmentally safe. Nowadays, various technological advancements in the returnable packaging system also improve the use of returnable products during the supply chain process. The trend of recyclable packaging is also a factor which affects the growth of the returnable packaging market in the North American region. The North American returnable packaging solutions market is segregated into three major countries, namely: the USA, Canada, and Mexico.

According to the report title, “North America Returnable Packaging Market Outlook, 2027”, publish by Bonafide research, the market was value at around USD 22.89 Billion in 2021 and it is anticipated to grow with the CAGR of 5.61% during the forecast period of 2022 to 2027. The availability of the raw materials, increasing R & D activities, efficient supply chain processes, and import-export activities of the countries are the driving factors for the growth of the returnable packaging market in the North American region. The U.S. market is expected to witness significant growth over the forecast period on account of the increasing product demand from various end-use industries in North America. Food and beverages, pharmaceuticals, and automotive industries operating in the U.S. are increasingly incorporating sustainable business practices, which, in turn, are expected to increase market growth.

According to the report, based on end-use, the market is segmented into food and beverages, automotives, consumer durables, healthcare, and other segments. The food and beverages sector led the market for returnable packaging in the region. Growing demand for packaged food, fresh food products, changing lifestyles and health concerns are the factors which led to the demand for returnable packaging. The food and beverage sector is estimated to cover more than 34% of the market share during the forecast period. On the other hand, the automotive sector is also registering immense growth in the returnable packaging market. Various trends in the automotive industry and the demand for automotive parts and vehicles are the main reasons for the growth of this sector in developing countries. According to the report, based on product type, the market is segmented into pallets, crates, intermediate bulk containers (IBCs), tanks, drums, and barrels, and other segments. The pallets segment is leading the market with more than 55% of the value market share, followed by the crates segment. Based on the material type, market is segmented into plastic, wood, metal, and other types. Plastic is the most usable material in the returnable packaging market because of its durable and convenient packaging solutions.

COVID-19 Impact
The COVID-19 pandemic badly impacted to all countries across the world. Most of the trade activities are restricted during the time of the pandemic. The impact of COVID-19 has caused disruption in the supply chain. The availability of the raw materials and restrictions had an impact on the returnable packaging market. Also, consumers' need for safe and sustainable products will increase the demand for efficient packaging in the region.

Major Companies present in the market:
Brambles Limited, Menasha Corporation, Schütz GmbH & Co. KGaA, Orbis Corporation, Schoeller Allibert AB, Nefab Group, Rehrig Pacific Company, Myers Industries, Inc., Returnable Packaging Resource, Inc., IPL Plastics Inc., Tri-pack Packaging Systems Limited, Amatech Inc., Ufp Technologies, Inc., Ckdpack Packaging Private Limited, DS Smith, IFCO SYSTEMS, Clip-Lok SimPak

Considered in this report
• Geography: North America
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• North America Returnable Packaging market with its value and forecast along with its segments
• country-wise returnable packaging market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• United States
• Canada
• Mexico

Types of Material in the report:
• Plastic
• Metal
• Wood
• Others

By End-Use in the report:
• Food and Beverages
• Automotive
• Consumer Durables
• Healthcare
• Others

Types of Product in the report:
• Pallets
• Crates
• Intermediate Bulk Containers (IBCs)
• Tanks, Drums, and Barrels
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to returnable packaging industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.