Acumen Research and Consulting recently published report titled “Reusable Plastic Container Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”
BEIJING, June 27, 2022 (GLOBE NEWSWIRE) -- The global reusable plastic container market size was valued at USD 281 Million in 2021 and is projected to grow at a CAGR of 9.6% during the forecast period and reach a market size of USD 631 Million by 2030.
According to the ClinMed International Library, around 6.3 billion tonnes of plastics were manufactured worldwide, with 9% and 12% recycled and burned, respectively from 1950 to 2018. Human population growth and continual demand for plastics and plastic items are to blame for the ongoing expansion in plastic production, waste generation, and environmental damage. Plastic waste pollution is now widely acknowledged as a huge environmental burden, particularly in the aquatic environment, where there is prolonged biophysical breakdown of plastics, harmful effects on animals, and restricted plastic cleanup choices. Researchers believe that by 2050, oceans may carry more plastics than fish in terms of weight. Every year, around 500 billion plastic bags are used, with an estimated 13 million tonnes ending up in the ocean, killing an estimated 100,000 marine life. Thus, the adoption of reusable materials is a great way to avoid plastic waste in day-to-day lives, generating lucrative reusable plastic container market revenue.
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Reusable Plastic Container Market Report Coverage:
Global Reusable Plastic Container Market
Market Size 2021
USD 281 Million
Market Forecast 2030
USD 631 Million
CAGR During 2022 - 2030
2018 – 2030
2022 – 2030
By Type, By Application, By Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled
DS Smith, IFCO, IPL Plastics, Menasha Corporation, Myers Industries, Nefab Group, Rehrig Pacific Company, Schoeller Allibert, Schütz GmbH & Co. KGaA, and Vetropack Holding.
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
10 hrs of free customization and expert consultation
Covid-19 Impact on the Global Reusable Plastic Container Industry
The COVID-19 pandemic has had an impact on all markets, and countries have placed restrictions on distribution and transportation, as well as industrial closures affecting the value chain. Due to a lack of labor and interruption in the supply chain, the lockout has limited the companies' production capacities. As a result, such container products are in short supply. Furthermore, the COVID-19 problem caused mayhem at the headquarters of several of the world's most dominant regions, including Europe and the United States.
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Global Reusable Plastic Container Industry Growth Factors
Reusable plastic containers can be an attractive option in terms of positive economic, sustainability, and social outcomes. Businesses who engage in reusable packaging can expect to save money on package purchases and disposal due to continuous reuse. Rapid growth in the food & beverage industry is the leading reusable plastic container market trend that is multiplying the growth. Concerns about sustainability are driving consumers and businesses to decrease waste and encourage the recycling, reuse, and remanufacturing of end-of-life products. Since packaging is one of the most significant waste sources, companies are extensively focusing on handling and transportation, particularly in the fresh food supply chain. On account of this, businesses and consumers have shifted towards reusable packaging due to the availability of the broadest product range, reduction of product damage by over 90%, and cost savings of up to 27%.
Robust demand from the e-commerce industry as well as the increasing trend of online food delivery would provide numerous growth opportunities for the reusable plastic container market share in the coming years. The emergence of COVID-19 at the start of 2020 resulted in a large increase in the use of e-commerce rather than traditional sales as lockdown measures were taken in numerous countries to stop the virus's spread. Because of sanitary considerations, the pandemic has led to the return of single-use plastic bags and boxes, favorably boosting the use of reusable plastic containers in e-commerce.
Global Reusable Plastic Container Market Segmentation
The reusable plastic container market is divided into three categories: type, application, and geography. Based on type, the market is split into bulk containers, handheld containers, and others. Based on our analysis, the handheld storage containers segment generated considerable reusable plastic container market revenue in 2021.
By application, the market is segregated into fruits, vegetables, meat, eggs, and others. Out of these, the vegetable segment held the major reusable plastic container market share in 2021.
Reusable Plastic Container Market Regional Stance
North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa comprise the regional group. Among all the regions, Europe conquered the market with the utmost shares. The increasing need for commodities export and import, together with Europe's growing e-commerce industry, is likely to fuel market expansion significantly throughout the forecast period. The government organization from this region is also promoting the use of recyclable and reusable packaging substitutes to promote a waste-free economy, which is one of the significant reasons contributing to the market's growth. Meanwhile, the Asia-Pacific reusable plastic container market is expected to grow at the quickest rate due to rising government initiatives for plastic waste and more public awareness about the environmental risks associated with single-use plastics.
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Reusable Plastic Container Market Players
The leading reusable plastic container companies presented in the report include DS Smith, IFCO, IPL Plastics, Menasha Corporation, Myers Industries, Nefab Group, Rehrig Pacific Company, Schoeller Allibert, Schütz GmbH & Co. KGaA, and Vetropack Holding.
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