Returnable Transport Packaging (RTP) Market is reaching around US$ 2.74 billion by 2033
The market for returnable transport packaging is anticipated to reach a value of US$27.81 billion in 2023 and US$45.73 billion by 2033. Throughout the forecast period, the market is expected to grow at a CAGR of 5.1%.
The market is expanding as a result of the increased demand for recycled and used products.
Dunnage bags, IBCs, layer pads, plastic crates, and drums are a few examples of returnable packing options.
Returnable transport packaging is becoming more popular as global trade and transportation expand and waste increases.
Manufacturers and major players concentrate on decreasing single-use packaging waste because it is predicted that the industry would grow rapidly.
Growing government initiatives, logistical rules, and a number of major participants are promoting market expansion.
The market size is being driven by end-use sectors including retail, food & beverage, logistics, chemical, and building & construction.
The need for returnable transport packaging is rising as a result of increased production, new product introductions, and financial advantages.
Returnable transport packaging reduces costs while ensuring safety and security for both consumers and manufacturers.
Returnable transport packaging includes IBC, pallets, crates, layer pads, drums, and dunnage bags which can be reused. This packaging solution provides safe and secure transportation of goods and helps in reducing the carbon footprint as the same product can be re-used for transportation of other goods.
Read more: https://www.digitaljournal.com/pr/news/future-market-insights/returnable-transport-packaging-rtp-market-is-reaching-around-us-2-74-billion-by-2033#ixzz81SP1s6Cz