The new returnable transport packaging market in APAC research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Returnable Transport Packaging Market in APAC 2021-2025 (Graphic: Business Wire)
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"One of the primary growth drivers for this market is the long-term cost-saving opportunities for buyers," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the returnable transport packaging market in APAC size to grow by USD 1.13 billion during the period 2021-2025.
Returnable Transport Packaging Market in APAC Segment Highlights for 2020
The returnable transport packaging market in APAC is expected to post a year-over-year growth rate of 8.12%.
Based on the end-user, the food and beverage industry segment saw maximum growth in 2020. The increase in food and beverage production is expected to influence the demand for intermediate bulk containers, stack nest containers, and reusable plastic crates in APAC.
The growth of the market segment will be significant during the forecast period.
37% of the growth will originate from the China region.
The growth of the e-commerce market will facilitate the returnable transport packaging market growth in China over the forecast period.
However, market growth in China will be slower than the growth of the market in India and South Korea (Republic of Korea).
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The returnable transport packaging market in APAC size is expected to accelerate at a CAGR of over 8% during the forecast period.
The returnable transport packaging market in APAC is segmented by end-user (Food and beverage, Manufacturing, and Retail) and geography (China, Japan, India, South Korea, and the Rest of APAC).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including Brambles Ltd., DHL International GmbH, DS Smith Plc, GEFCO Group, Greif Inc., IFCO Management GmbH, Kuehne + Nagel International AG, Schoeller Allibert BV, SCHUTZ GmbH & Co. KGaA, and Sonoco Products Co.
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