Reverse Logistics Market

Reverse Logistics Industry Anticipated Expansion to $958.3 Billion by 2028

PORTLAND, OREGON, UNITED STATES, June 30, 2023/EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Reverse Logistics Market by Return Type (Recalls, Commercial & B2B returns, Repairable returns, End of use returns and End of life returns), End User (E-commerce, Automotive, Pharmaceutical, Consumer Electronic, Retail, Luxury Goods, and Reusable Packaging), and Service (Transportation, Warehousing, Reselling, Replacement Management, Refund Management Authorization, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028". As per the report, the global reverse logistics industry size was accounted for $635.6 billion in 2020, and is anticipated to garner $958.3 billion by 2028, growing at a CAGR of 5.6% from 2021 to 2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 https://www.alliedmarketresearch.com/request-sample/5191

Drivers, restraints, and opportunities

Increase in product recall due to strict government rules for product quality in the automotive industry, expansion of e-commerce industry, and surge in tech-driven reverse logistic services coupled with adoption of IoT-enabled connected devices have boosted the growth of the global reverse logistics market. However, lack of control of manufacturers on reverse logistics services and uncertainty in the reverse logistics process hinder the market growth. On the contrary, advent of blockchain technology and reduction in losses due to adoption of multi-modal systems would open new opportunities in the future.

Covid-19 scenario:

The Covid-19 outbreak forced governments across the globe to implement strict lockdown and made social distancing mandatory. This resulted in sudden decline in global trade and reduced the demand for logistics.
The lockdown forced reverse logistics service providers in delays in return and replacement activities.
However, increase in pharmaceutical and e-commerce sales due to the pandemic surged the demand for the reverse logistic market.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭- https://www.alliedmarketresearch.com/reverse-logistics-market/purchase-options

The repairable returns segment dominated the market

By return type, the commercial and B2B returns segment held the largest share in 2020, accounting for around one-third of the global reverse logistics market. However, the end of use returns is estimated to register the highest CAGR of 7.1% during the forecast period, due to rise in need for disposition and handling of end of use products.

The e-commerce segment to portray the highest CAGR through 2030

By end user, the e-commerce segment is projected to manifest the highest CAGR of 6.5% during the forecast period. In addition, the segment dominated the market in terms of revenue in 2020, contributing to nearly one-fourth of the global reverse logistics market, due to the boom of e-commerce across the globe. The report also analyzes the segments including automotive, pharmaceutical, consumer electronic, retail, luxury goods, and reusable packaging.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐰𝐢𝐭𝐡 𝐀𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 & 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐡𝐞𝐫𝐞 𝐚𝐭 https://www.alliedmarketresearch.com/purchase-enquiry/5191

Asia-Pacific, followed by Europe and North America, to hold the largest share

By region, the market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, accounting for more than two-fifths of the market. However, the global reverse logistics market across Asia-Pacific would register the highest CAGR of 6.2% from 2021 to 2028, owing to the expansion of e-commerce in countries such as India and China.

Major market players

C.H. Robinson Worldwide, Inc.
Core Logistic Private Limited
CCR Logistics Systems AG
Deutsche Post DHL Group
DB Schenker
Kintetsu World Express, Inc.
FedEx Corporation
United Parcel Service, Inc.
Safexpress Pvt. Ltd.
Yusen Logistics Co., Ltd

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

Third-party Logistics (3PL) Market- https://www.alliedmarketresearch.com/3PL-market

Fourth Party (4PL) Logistics Market- https://www.alliedmarketresearch.com/fourth-party-logistics-market

Fifth-Party Logistics (5PL) Solution Market- https://www.alliedmarketresearch.com/fifth-party-logistics-solution-market-A14785

Logistics Market- https://www.alliedmarketresearch.com/logistics-market

Sea Freight Forwarding Market- https://www.alliedmarketresearch.com/sea-freight-forwarding-market-A14505

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here

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