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Returnable Transport Packaging (RTP), is a type of multi-trip packaging medium in which products and goods can be transported more than once. This packaging involves use of pallets and containers. These type of packaging is made up of durable materials like wood, metal, plastic etc., mostly owned by retailers and is stored at location as special stock and clearly assign as belonging to retailer. It also enables you to manage the transport packaging stocks of products and materials that belong to the retailers separately.
Increasing adoption of RTP from various sectors is driving the market growth. Attributed to the sustainability, consumer industries are highly attracted towards RTP. Additionally, it eliminates the production of packaging waste and also offers economic benefits. This is expected to bolster the market growth.
However, RTP involves high transportation cost due to the return trip that delivers the packaging containers. This is expected to hinder the market growth.
Key Market Driver -
Increasing adoption due to sustainability and economic benefits.
Key Market Restraint -
High transportation cost.
Based on material, the global returnable transport packaging market is segmented into plastic, metal, and others. Based on end-user industry, market is segmented into food & beverages, healthcare, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Returnable Transport Packaging market consists of global & regional players operating. Some of the key players in the market include Returnable Packaging Resource, Inc, Tri-Pack Plastics Ltd, Plastic Packaging Solutions Midlands & East Ltd, Integra Packaging, ORBIS Corp, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for key share in market in 2019. Attributed to the large manufacturing base present in China, Vietnam, India, Indonesia and other countries, returnable transport packaging market is experiencing regional growth. North America is estimated to show substantial growth attributed to increasing trade activities in U.S. Europe is expected to show significant growth attributed to the rise in demand from food & beverages industries. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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