United States and Europe Reusable Plastic Returnable Transport Packaging Market Size

Reusable Plastic Returnable Transport Packaging in the US & Europe Market Analysis

The United States and Europe Reusable Plastic Returnable Transport Packaging Market size is estimated at USD 22.52 billion in 2024, and is expected to reach USD 26.42 billion by 2029, growing at a CAGR of 3.25% during the forecast period (2024-2029).

Adopting sustainable returnable packaging in the logistics industry to reduce the cost of their logistics packaging across their operations creates demand in the market.

• The benefits of using RPC, such as lower cost and less wasteful supply chain that delivers savings directly to the bottom line, protect quality and freshness, optimizes the overall supply chain reducing environmental impact by preventing packaging waste, are the factors propelling the growth of the market.
• The increasing demand for the export and import of goods, coupled with the growing e-commerce industry in the United States and Europe, is expected to drive the growth of the market significantly during the forecast period. According to the US Census Bureau, the total imports and exports of goods in the United States accounted for USD 2,832.9 billion and USD 1,754.6 billion, respectively, in 2021.
• However, adopting reusable plastic RTP largely depends on the stakeholders across the supply chain realizing its benefits. According to a survey by Orbis Corporation, 46% of the supply chain executives mentioned resistance to process change as the major factor that may impede their supply chain performance. Thus, the lack of acceptance from people in the industry poses a challenge to the growth of the studied market.
• The governments in the studied regions are also emphasizing using reusable and recyclable packaging alternatives to enable a waste-free and circular economy, which is one of the important factors contributing to the growth of the studied market. The European Commission has increased its legislative efforts to reduce solid waste and promotes a circular economy.
• Several key players in the market are developing solutions with technological advancements to increase their operational efficiency. For instance, in April 2022, CHEP, in partnership with BXB Digital, developed digital solutions based on the Internet of Things (IoT) that seek to increase the operational efficiency of their customers' supply chains. A set of CHEP's reusable pallets and containers have been equipped with track and trace devices across Southern Europe to increase visibility over the platforms and the products transported on them.
• The COVID-19 outbreak affected international trade and the supply chains of essential and non-essential goods and services worldwide. The decline in industrial production due to the pandemic significantly affected the growth of the market.