Description
Europe Returnable Packaging Market Research Report Forecast to 2027
The demand for returnable packaging solutions is growing significantly in the European market due to the surge in domestic & international trade volume and the growth of the logistics & e-commerce industry.
The Europe returnable packaging market is projected to grow at a 5.6% CAGR during the forecast period, 2021–2027. In 2020, the returnable packaging market was dominated by Germany with a 25.3% share, followed by UK with share of 24.1%. The Europe returnable packaging market has been segmented based on material, product type, end use, and country.
Based on material, the returnable packaging market has been segmented into plastic, metal, and wood. The plastic segment is expected to grow at the fastest rate during the forecast period. In 2020, the plastic segment held a share of 53.0% of the Europe returnable packaging market.
The Europe returnable packaging market is projected to register a significant CAGR during the assessment period. Rising demand for durable and reusable packaging from various end-use industries is driving the growth of the returnable packaging market. In addition, the fast-paced industrialization and the high optimization in pack size are some of the other factors contributing to the forecast period’s market growth.
However, the availability of cheap packaging non-returnable substitutes acts as a key challenge in the market. The key restraints faced by the players in this market are the fluctuating prices of raw materials and environmental concerns associated with plastic packaging. Nevertheless, the surging rise in international trade volume is likely to open new growth avenues for the players in this market.
Market Segmentation
Based on material, Europe returnable packaging market is segmented into plastic, metal, and wood. The increasing demand for sustainable packaging material is expected to create lucrative opportunities for the players operating in the returnable packaging market.
Based on product type, Europe returnable packaging market is segmented into pallets, crates, intermediate bulk containers (IBC), dunnage, drums & barrels, bottles, and others.
Based on end use, Europe returnable packaging market is segmented into automotive, food & beverage, pharmaceuticals & healthcare, consumer goods, and postal services.
Regional Analysis
Based on country, the report on Europe returnable packaging market has been segmented into Germany, UK, France, Spain, Italy, and Rest of Europe.
Germany is witnessing substantial growth in the market due to the increasing automotive & food & beverages industry. The gross capital investment of Germany in the automotive industry data was reported at USD 19,469.2 million in 2019, compared to USD 18,883.9 million for 2018.
Germany is Europe’s leading automotive market, accounting for around 25% of all passenger cars manufactured (3.5million) and approximately 20% of all new car registrations (2.9 million). Moreover, the rise in demand for convenience food and growing awareness of packaged food among consumers drive the growth of the returnable packaging market in the country.
Major Players
Schoeller Allibert, Euro Pool System, Loadhog, Schütz GmbH & Co. KGaA, Georg Utz Holding AG, and GWP Group Limited are some of the key players operating in the Europe market.
Reviews
There are no reviews yet.