The returnable packaging market is projected to grow from USD 37.9 billion in 2018 to USD 51.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.2% from 2018 to 2023. The rising demand for returnable packaging from various end-use industries such as automotive, consumer durables, and food & beverages is expected to drive the growth of the returnable packaging market across the globe during the forecast period.
Brambles (Australia), Schoeller Allibert (Netherlands), Menasha Corporation (US), DS Smith (UK), Myers Industries (US), Nefab Group (Sweden), Rehrig Pacific Company (US), IPL Plastics (Ireland), Schutz GmbH & Co. KGaA (Germany), and Vetropack Holding (Switzerland) are the leading players operating in the returnable packaging market.
These players have adopted numerous growth strategies such as expansions, investments, divestments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market shares and enhance their product portfolios.
The strategies of expansions, investments, and divestments together accounted for the largest share of all strategic developments that took place in the returnable packaging market between January 2016 and November 2018. Companies such as Brambles (Australia), DS Smith (UK), Myers Industries (US), Schoeller Allibert (Netherlands), Nefab Group (Sweden), IPL Plastics (Ireland), and Schutz GmbH & Co. KGaA (Germany) adopted these strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the returnable packaging market.
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Brambles is one of the key players in the returnable packaging market. It offers products and services through 4 business segments, namely, CHEP Americas, CHEP EMEA, CHEP Asia Pacific, and IFCO. The company has a wide range of supply chain platforms comprising Reusable Plastic Crates (RPCs), pallets (plastic, timber, and display), specialized containers, bins, and safe handling equipment.
In October 2016, Brambles combined its oil & gas container solutions businesses, Ferguson Group and CHEP Catalyst & Chemical Containers with Hoover Container Solutions with the aim to create a joint venture company named Hoover-Ferguson Group. This joint venture company is equally owned by shareholders of Hoover and Brambles. In May 2016, IFCO Systems (Part of Brambles) acquired Empacotecnia SAS (Colombia), a provider of reusable plastic crate pooling services. This strategic initiative complements the strong organic growth of IFCO Systems in the South American region.
Schoeller Allibert is a global packaging manufacturer, which offers returnable transit packaging. The company offers a wide range of tailor-made and standard returnable packaging solutions through its key product segments, namely, foldable small containers, foldable large containers, rigid pallet containers, stackable and stack/nest handheld boxes, beverage crates and trays, UN pails, pallets and dollies, and foldable Intermediate Bulk Containers (IBCs).
Strong global presence and adoption of growth strategies such as new product developments, investments, expansions, and partnerships have enhanced the presence of the company in the returnable packaging market. In October 2018, Schoeller Allibert launched Combo Excelsior IBC, a new standard foldable intermediate bulk container for the international logistics. The product is designed specifically for cosmetics, food processing, and pharmaceutical industries.
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