Returnable Transport Packaging Market Size in APAC is set to grow by USD 1.39 billion from 2024-2028, Long-term cost-saving opportunities for buyers boost the market, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The returnable transport packaging market size in APAC is estimated to grow by USD 1.39 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.87%  during the forecast period. 

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Market Driver

The Returnable Transport Packaging market in APAC is anticipated to grow due to several reasons. Environmental concerns are driving the demand for this packaging type, which emits 28-30% less carbon dioxide than disposable packaging. Returnable packaging is also a cost-effective long-term investment, as the cost is recouped through repeated use. This packaging is more stable and efficient in terms of space optimization, allowing for higher loading capacity and lower operating costs compared to disposable packaging. 

The Returnable Transport Packaging (RTP) market in APAC is experiencing significant growth due to increasing demand for sustainable logistics solutions. Key trends include the use of cost-effective and lightweight materials, such as plastic and corrugated cardboard. The market is also witnessing a rise in the adoption of tracking technology for improved supply chain visibility.

Additionally, the implementation of circular economy principles is driving the market, with companies focusing on reusable and recyclable packaging solutions. The use of automation and digitization in the manufacturing process is also gaining traction. The market is expected to continue its upward trajectory, with key players in the region focusing on innovation and sustainability. 

Market Challenges

•         In the Returnable Transport Packaging Market in APAC, the use of raw materials such as plastic and steel is common. The cost of these materials significantly influences the end-product price. In 2022-2023, the cost of key raw materials like polymer, used in plastic production, rose due to increased crude oil prices and high demand. Similarly, the price of metal and wood increased in APAC due to global market trends.

•         The volatility of iron ore and crude oil prices directly affects the manufacturing cost of returnable transport packaging products made from steel and polymer, respectively. These fluctuations negatively impact the market during the forecast period.

•         The Returnable Transport Packaging (RTP) market in APAC faces several challenges. Logistics and costs are key issues. The lack of a standardized system for RTP in various countries makes it difficult to implement an efficient and cost-effective supply chain. Carbon footprint is another challenge. The high cost of producing and transporting RTP contributes to increased emissions.

•         Additionally, the need for tracking and managing RTP across long distances adds complexity. Regulations and infrastructure also pose challenges. Differences in regulations and infrastructure across APAC countries can hinder the adoption of RTP. Despite these challenges, the market for RTP in APAC is expected to grow due to increasing demand for sustainable and cost-effective packaging solutions.

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Segment Overview 

1. Product 
• 1.1 Containers
• 1.2 Pallets
• 1.3 Drums and barrels
• 1.4 Others
2. End-user 
• 2.1 Food and beverage industry
• 2.2 Manufacturing industry
• 2.3 Retail industry
3. Geography 
• 3.1 APAC

1.1 Containers-  The APAC returnable transport packaging market is dominated by the container segment, which caters to various industries including retail. With the expansion of e-commerce in populous countries like China and India, the retail sector's demand for containers is surging. Brands aim to differentiate themselves through unique packaging, particularly for food and beverage products. This trend is driving container vendors to create specialized offerings for retail companies, fueling the market's growth during the forecast period.

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Research Analysis

The Returnable Transport Packaging (RTP) market in APAC is experiencing significant growth due to the increasing focus on sustainability and circular economy in the transport, logistics, and supply chain sectors. RTP, including pallets, containers, crates, totes, IBCs, drums, bins, and bulk containers, plays a crucial role in enhancing cost savings and efficiency in manufacturing and distribution processes.

Reverse logistics is another key area where RTP is gaining traction, as it facilitates the collection, transportation, and reuse of packaging materials. RFID technology is increasingly being used for tracking and managing the flow of RTP in the supply chain, ensuring optimal utilization and reducing the need for new packaging production.

The Returnable Transport Packaging (RTP) market in APAC is experiencing significant growth due to the increasing demand for sustainable and cost-effective logistics solutions. RTP is essential in various industries such as automotive, electronics, pharmaceuticals, and food and beverage. The market is driven by factors like the rising e-commerce sector, increasing trade activities, and the growing awareness of the need for sustainable packaging.

The use of RTP in supply chain management helps reduce transportation costs, minimize damage during transit, and ensure timely delivery. The market is segmented based on product type, application, and country. The major product types include reusable pallets, containers, and bulk containers. The application segments include automotive, food and beverage, electronics, and others. The market is expected to continue its growth trajectory in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Containers
• Pallets
• Drums And Barrels
• Others
• End-user
• Food And Beverage Industry
• Manufacturing Industry
• Retail Industry
• Geography
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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