Returnable Transport Packaging (RTP) Market Comprehensive Analysis By 2028
Returnable Transport Packaging (RTP) Market: An Overview
The global returnable transport packaging (RTP) market is expected to register a healthy growth during 2018-2026. Returnable transport packaging includes mediums such as containers and pallets, which transport goods back and forth between vendors and customers. Since these are not passed on to the customers, returnable transport packaging (RTP) market becomes a source of service for most vendors around the world.
The scope of the returnable transport packaging (RTP) market report consists of materials including containers, crates, drums, crates, protective dunnage, etc. Additionally, it also includes metal materials such as bulk bins, drums, pallets, roll cages, and many others. It also includes wood RTM products. Additionally, there are several types of products covered in this market report including plastic trays, covers stillage, bulk bins, etc. The report on returnable transport packaging (RTP) market also covers chemical, pharmaceutical, and textile industries.
Returnable Transport Packaging (RTP) Market: Notable Developments
- Goodpack, a packaging and transport provider has announced a new product in collaboration with Ceva Logistics. The product is a returnable container for tyre movements. The product is collapsible and allows multiple stacking. The product is expected to be launched in Asia, Australia, and North America very soon.
- Singapore will soon roll out its packaging reporting framework in 2020. The Singapore government will mandate businesses to file an annual report on their use of various packaging. It would include the types and amounts of packaging businesses they use. This policy is in line with the government’s larger initiatives to recycle, reuse, and reduce the use of packaging material.
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Returnable Transport Packaging (RTP) Market: Key Trends
Growing demand in food products and the rise of giants in e-commerce is driving the growth of the returnable transport packaging market. These businesses are also restrained to a certain extent due to growing demand for sustainability in packaging and usage of materials. Additionally, the high costs of raw materials, inefficiency and subsequent wastage during transportation are challenges for the industry. Hence, the key players in the returnable transport packaging (RTP) market are investing heavy resources in innovation to bring in product innovations and more efficiency. This is expected to result in growth for the returnable transport packaging (RTP) market in the near future.
Additionally, the market is also expected to receive a boost from the automotive sector. The automotive sector similar to the retail sector relies heavily on consistent delivery of goods through returnable transport mediums. Additionally, heavy packaging materials used in the industry provide the much needed strength, low maintenance, and reduced footprint for the returnable transport packaging market. The returnable transport packaging methods are providing sustainable supply chains which are providing a streamlined flow of goods and materials for the automotive industry.
