APAC RTP Market set to surge $1.40B (2023-2028). E-commerce boom fuels growth – Technavio predicts substantial expansion in Returnable Transport Packaging.
Industry: Transportation & Logistics
E-commerce Boom: Catalyst for Rapid Market Expansion
New York, NY (PRUnderground) December 11th, 2023
The Asia-Pacific (APAC) market for Returnable Transport Packaging (RTP) is anticipated to witness substantial growth, projecting a USD 1.40 billion increase from 2023 to 2028, with a Compound Annual Growth Rate (CAGR) exceeding 8.87%, as indicated by Technavio’s latest market research report. This growth is predominantly attributed to the rapid expansion of the e-commerce sector in the APAC region.
The e-commerce industry in APAC is experiencing significant momentum due to factors such as a burgeoning tech-savvy population, increased Internet accessibility, and widespread smartphone usage. The prevalence of diverse payment options, including credit/debit cards, Internet banking, electronic wallets, and cash on delivery (COD), has led to a notable shift in consumer purchasing behavior from brick-and-mortar stores to online platforms. This surge in e-commerce activities directly influences the APAC RTP market.
The market segmentation for the period 2024-2028 includes product categories such as containers (including stack nest containers, reusable plastic crates, and bulk boxes), pallets, drums and barrels, and others. End-users encompass the food and beverage industry, manufacturing industry, and the retail industry. Notably, the containers segment is expected to witness substantial growth, driven by its utilization in retail warehouses, poultry farms, and similar industries, particularly in the leading e-commerce markets of China and India.
Prominent companies operating in the APAC RTP market include Amatech Inc., Balmer Lawrie and Co. Ltd., Berry Global Inc., Brambles Ltd., Bulk Lift International LLC, BWAY Corp., CABKA Group GmbH, CORDSTRAP BV, Craemer GmbH, DS Smith Plc, Greif Inc., IFCO SYSTEMS GmbH, Myers Industries Inc., Rehrig Pacific Co., Schoeller Allibert Services B.V., SCHUTZ GmbH and Co. KGaA, Tank Holding Corp., The Supreme Industries Ltd., Time Technoplast Ltd., and TranPak Inc.
The report delves into the market dynamics, highlighting trends such as the increased adoption of returnable transport packaging, which is expected to drive market growth. However, challenges such as fluctuating raw material prices may pose potential threats.
Key highlights of the report include insights into the CAGR during the forecast period, detailed information on factors facilitating market growth, estimation of market size and its contribution to the parent market, predictions on upcoming trends and changes in consumer behavior, analysis of the competitive landscape, and comprehensive details of factors challenging market growth.
Businesses seeking to enhance their market position can benefit from the detailed analysis of around 25 companies provided in Technavio’s report. It covers crucial areas such as market size, trends, industry analysis, and challenges. To gain a deeper understanding, interested parties can download the sample report for free to access detailed insights and successful business strategies deployed by companies in the APAC RTP market.
Related Reports:
Returnable Transport Packaging Market in Brazil: The returnable transport packaging market share in Brazil is expected to increase by USD 88.05 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.02%.
Returnable Transport Packaging Market in North America: The returnable transport packaging market share in North America is expected to increase by USD 976.32 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.82%.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by End-User
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio Research
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
