The United States is estimated to be the fastest growing returnable packaging market owing to consumer awareness and the presence of various packaging and logistics solution companies. Packaging industries are growing rapidly because of the expansion of various end-use industries and urbanisation in the country. The R & D activities and innovations of companies in returnable packaging solutions will lead to immense growth during the forecast period. High demand for packaged food, changing lifestyles, and health consciousness among people are all factors for the growth of the returnable packaging market in the US. For example, the demand for beverages in the US is high, so for safe handling and transportation, manufacturers are adopting reusable packaging solutions for several uses. Nowadays, consumers are focusing on sustainable and eco-friendly packaging. Because of this trend, manufacturers are adopting returnable packaging for a sustainable environment. Returnable or reusable packaging solutions are environmentally friendly and have fewer impacts on the environment. Manufacturers are increasingly investing in returnable packaging solutions. The initial investments for returnable packaging are high, but these solutions give the maximum advantages in the long run. The government in the US is also supporting returnable packaging systems. Rules and regulations are implemented by the government for the use of packaging systems. The United States is the fastest growing country in technological advancements. The healthcare sector is emerging in research and development activities. So there will be robust growth in the returnable packaging market during the forecast period. According to the report "US Returnable Packaging Market Outlook, 2027," published by Bonafide research, the market is expected to grow at a CAGR of 5.56% from 2022 to 2027.is also a major driving factor for the growth of the returnable packaging market. The US is the world's 2nd largest goods exporter. The United States is the world's largest supplier of industrial and automotive goods. These export activities require efficient packaging solutions for their safe custody. So the United States is estimated to achieve immense growth during the forecast period. According to the report, based on end-use, the market is segmented into food and beverages, automotive, consumer durables, healthcare, and other segments. The food and beverages segment is leading the market with more than 30% of the value market share in the US. High demand for healthy foods and packaged foods will drive the market during the forecast period in the US. Automotive industries are registering the highest growth rate in the returnable packaging market. An increase in the production of automotive parts and vehicles required returnable packaging for the shipments. 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, followed by the crates segment. IBCs are also a growing segment during the forecast period. The various shapes and efficient packaging solutions offered by IBCs are major driving factors for the growth. Based on the material type, the market is segregated into four segments; plastic, wood, metal, glass, and foam. The plastic segment is leading the returnable packaging market in the US. Light weight, durability, and convenience are factors that lead to the high demand for plastic as a packaging material. COVID-19 Impact: The COVID-19 outbreak has spread and its humanitarian impact has grown. Industries that help provide for basic needs, such as safely delivering food and supplies to consumers, are increasingly impacted. The shortage of raw materials and supply has impacted the manufacturing of the various returnable packaging products. Also, trade activities are impacted because of the lockdown measures. Considered in this report • Geography: US • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • US Returnable Packaging market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Five Force models • Top profiled companies • Strategic recommendation 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.
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