The Reverse Logistics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Reverse Logistics Global Market Report 2024, The reverse logistics market size is expected to see strong growth in the next few years. It will grow to $909.87 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing product complexity, focus on sustainability, evolving consumer expectations, rise of rental and subscription models, focus on data analytics. Major trends in the forecast period include technology integration, predictive analytics for returns management, sustainable packaging and materials, circular economy practices, robotic process automation (RPA).
The rapid growth of e-commerce is expected to propel the growth of the reverse logistics market going forward. E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the Internet. Reverse logistics is used in e-commerce to manage the flow of returned products from customers back to the original point of origin, such as the warehouse or store, which helps to maintain customer trust, minimize losses, and contribute to sustainable business practices. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce increased and reached the 3rd quarter of 2023 at 7.6%, compared to the 4th quarter of 2022 by 6.9%. 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the growth of e-commerce is driving the growth of the reverse logistics market.
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The reverse logistics market covered in this report is segmented –
1) By Return Type: Recalls, Commercial Returns, Repairable Returns, End-Of-Use Returns, End Of Life Returns
2) By Service: Transportation, Warehousing, Reselling, Replacement Management, Refund Management Authorization, Other Services
3) By End User: E-Commerce, Automotive, Pharmaceutical, Consumer Electronic, Retail, Luxury Goods, Reusable Packaging
Major companies operating in the reverse logistics market are developing innovative reverse logistics platforms, such as UPS Pickup Point locations, to address the complex and time-sensitive nature of healthcare-related logistics. A pickup point is a prearranged location where you collect people or things. For instance, in October 2023, UPS Healthcare, a US-based reverse logistics company, launched a reverse logistics service in Europe. The service, known as UPS Pickup Point locations, is a new reverse logistics solution for health laboratory customers. These pickup points aim to streamline the collection and shipment of samples to a central lab, providing a more efficient solution for healthcare companies by decreasing the number of collection sites and improving reliability and control. This initiative is a response to the challenges that healthcare-related logistics present, particularly in managing the reverse logistics of healthcare-related shipments. Additionally, these benefits make UPS Pickup Point locations a convenient and efficient option for managing shipping and receiving needs.
The reverse logistics market report table of contents includes:
- Executive Summary
- Reverse Logistics Market Characteristics
- Reverse Logistics Market Trends And Strategies
- Reverse Logistics Market – Macro Economic Scenario
- Global Reverse Logistics Market Size and Growth
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- Global Reverse Logistics Market Competitive Benchmarking
- Global Reverse Logistics Market Competitive Dashboard
- Key Mergers And Acquisitions In Reverse Logistics Market
- Reverse Logistics Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Deutsche Post DHL Group
- United Parcel Service Inc
- FedEx Corporation
- Schenker AG
- Kuehne + Nagel International AG
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