Global Returnable Transport Packaging Market 2019-2023
Most of the returnable transport packaging products are manufactured using plastic materials that are lightweight, which saves transportation cost. The demand for returnable transport packaging products is expected to increase during the forecast period due to their lightweight nature and space saving benefits during transit. In addition, the use of returnable transport packaging products decreases the overall cost of packaging in the long run. Although single-use packaging products are relatively less expensive than returnable transport packaging products, they need to be purchased repetitively. Technavio's analysts have predicted that the returnable transport packaging market will register a CAGR of almost 8% by 2023.
The convenience provided by order tracking and free shipments is encouraging more people to choose online shopping over brick-and-mortar stores. Other drivers for the growth of the e-commerce market include increasing Internet and smartphone penetration. The growing e-commerce market is expected to accelerate the demand for returnable transport packaging products.
The returnable transport packaging products leasing is also expected to have an adverse impact on the demand for new product sales. Leasing helps the returnable transport packaging end-users to reduce their operating cost involved in the purchase and maintenance of these products.
For the detailed list of factors that will drive and challenge the growth of the returnable transport packaging market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.