According to the report prepared by MarketsAndMarket, the global returnable packaging market was valued at USD 104.9 billion in 2021 and is estimated to reach USD 141.7 billion by 2026, with a growth rate of 6.2% from 2021 to 2026.

The market is expected to grow due to increasing demand from various end-use industries for durable and long-lasting packaging goods. Returnable or reusable packaging products are constructed from sturdy materials, including metal, plastic, and wood.

Compared to single-use packaging, the initial cost of such items is significantly higher; however, as the number of trips increases, the cost per trip decreases, ensuring a quick return on investment.

Some of the prominent key players will be:

- Brambles (Australia)

- Schoeller Allibert (Netherlands)

- Menasha Corporation (USA)

- DS Smith (UK)

- Myers Industries (USA)

Recent Developments in the Global Returnable Packaging Market

- Recently, the fab Group introduced FiberFlute, an environmentally friendly alternative to foam. This new product is the result of a partnership between Nefab Group AB (Nefab) and Corruven Canada Inc. (Corruven). Through Nefab's global footprint and Corruven's exclusive FiberFlute, customers can protect their products while simultaneously reducing overall costs and environmental impact.

FiberFlute is different from plastic-based packaging as it is a 100% fiber-based and recyclable paper solution. Furthermore, FiberFlute can absorb more shock with less material compared to polyethylene foam, can function in both dry and wet conditions, and can withstand multiple drops.

- In May, Nefab expanded its footprint in the North American region. The company added production sites in Houston (Texas), Tucson (Arizona), and Gainesville (Florida) in the USA.

The Pallet Segment Will Lead the Returnable Packaging Market

The returnable packaging market is segmented based on product type into pallets, crates, IBCs, trash, barrels, drums, bottles, and others, including racks, bags, carts, and trolleys. The pallet segment is expected to lead the returnable packaging market.

The expansion of the segment is anticipated to be aided by the increased preference for many reusable pallets over a single-use pallet, as the former is robust and practical.

The Odyssey 40 by 48-inch pallet was added to Orbis Corporation's family of rackable plastic pallets in September 2020. In addition to its existing line of plastic pallet products, the new pallet is developed for use in heavy-duty racking applications.

With its distinctive design features such as molded-in friction elements and optional steel reinforcements, the above-mentioned pallet provides stability and a robust solution that aids in heavy-duty loads.

The APAC region is estimated to be the fastest-growing region in the returnable packaging market during the forecast period.

The APAC region is estimated to be the fastest-growing region in the returnable packaging market during the forecast period. The key factor influencing the regional market is the presence of numerous manufacturing firms in countries such as China, India, Indonesia, and Vietnam.

Additionally, the market is expected to grow due to the rapid industrialization of the Asia Pacific regions, owing to the low production costs of the regions. Due to the participation of nations in the Trans-Pacific Partnership Agreement, the Asia Pacific region has served as a hub for the manufacturing industry. TPP is a free trade agreement that has enhanced trade and production between countries, fueling the need for returnable packaging solutions over time.

The returnable packaging market in the Middle East and Africa is anticipated to expand significantly in the next few years as attention shifts from the oil industry to the industrial sector. (Photo: Freepik)