Saudi Arabia Returnable Packaging Market Overview, 2027

New challenges and opportunities have emerged in the packaging industry due to advancements in technology, new machineries, and innovative products. Saudi Arabia is estimated to be an emerging country in the returnable packaging market during the forecast period. Saudi Arabia has emerged as one of the most lucrative markets for the growth of the returnable packaging market in the Middle East & Africa region. The returnable packaging market is led by rising demand from the packaging industry as well as cumulative demand from consumer electronics and the food and beverage industry. Returnable packaging solutions offer a wide range of benefits to manufacturers. Returnable packaging solutions protect the products from damage and the external environment during the shipment. The country has a huge consumer base and a wide range of industrial activities. Growth of the end-use industries and urbanisation are the main factors that drive the growth of the returnable packaging market in Saudi Arabia. Consumers are demanding sustainable and environmentally friendly packaging from the industry. Concerns about the environment and sustainability have shaped the growth of returnable packaging solutions. Manufacturers are investing in returnable packaging solutions and using the packaging products several times. These products reduce the wastage of materials and also reduce the cost of transportation. Environmental concerns over recycling and safe disposal of the raw materials and price volatility of the raw materials are major driving factors for the growth of the returnable packaging market in Saudi Arabia. The key factor in the country’s expanding demand for innovative packaging has been analysed by the amazing development of Saudi Arabia’s food processing industry, which is supported by the modernization and urbanisation activities being implemented throughout the Kingdom. According to the report title, "Saudi Arabia Returnable Packaging Market Overview, 2027," published by Bonafide research, the market is anticipated to grow with a CAGR of more than 5% during the forecast period of 2022 to 2027. The Kingdom of Saudi Arabia supports domestic production as much as possible. Because of the increasing cost of imported pharmaceuticals, the government is encouraging local packaging and manufacturing activities. These activities will lead to a high demand for returnable packaging solutions in Saudi Arabia during the forecast period. In addition to that, new players are also entering the market to set up their industries; this factor is also having a significant impact on the returnable packaging market. The food and beverage sector covers the highest portion of the market share in returnable packaging industries. High demand for processed food and packaged food in the country has led to the growth of the returnable packaging market. The automotive industry is estimated to be the fastest growing sector in the returnable packaging market during the forecast period. Emerging new automotive players, as well as high demand for vehicles and automotive parts, are major factors driving market growth. The pallets segment is leading the market, followed by the crates segment. IBCs are also a growing segment during the forecast period. The rise in modernization and continuous research and development activities will create new opportunities for the intermediate bulk containers (IBC) market in the forecast period. Based on the material type, the market is segregated into four segments: plastic, wood, metal, and others. Plastic is the most usable packaging material in the returnable packaging market. Due to its durability and light weight, plastic material is preferred in many industries. The recyclability of the metal materials will further lead to the high growth in the returnable packaging market during the forecast period. COVID-19 Impact: The COVID-19 pandemic has severely impacted the world’s economy and international trade. The economic impact of the COVID-19 pandemic pushed Saudi Arabia into recession in 2020. Returnable packaging industries also faced a decline in production levels. Supply chain disruptions due to lockdown measures impacted the market growth of returnable packaging. Considered in this report • Geography: Saudi Arabia • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Saudi Arabia 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.