LONDON — The global returnable packaging market is expected to reach $8,831 million by 2021, according to a new report from research firm Technavio. One emerging trend driving growth in this segment is the use of biodegradable materials.
Increased concerns surrounding the use of synthetic, petroleum-based plastics has led to a rise in more environmentally-friendly alternatives. Large companies such as the Dow Chemical Company and Braskem are investing heavily in the production of bio-based polymers using biomass.
“Returnable packaging such as pallets, bulk boxes, barrels and plastic drums are the vital packaging materials for the bulk shipment of various types of goods, such as food and beverages, chemicals and pharmaceutical items,” said Shakti Jhakar, a lead analyst at Technavio. “Plastic returnable packaging materials are usually made up of polyethylene or polypropylene.”
Read on for two more trends in the returnable packaging segment.