IMARC Group, a leading market research company, has recently releases report titled “Reverse Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global reverse logistics market trends, share, size and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Reverse Logistics Market?
The global reverse logistics market size reached US$ 613.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 858.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Reverse logistics refers to a process wherein goods or products flow in a backward direction from the final destination to the point of their origin or manufacture. It comprises warehousing, reselling, recycling management, returns management, replacement management, and environmental compliance. It assists in maintaining an efficient flow of goods and reducing costs while eliminating the risk of losses. Besides this, it is used to increase asset utilization, generate a better return on investment (ROI), and promote a culture of industry leadership. As a result, reverse logistics finds applications in the automotive, electronics, and pharmaceutical industries across the globe.
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What are the growth prospects and trends in the reverse logistics industry?
At present, the rising demand for reverse logistics due to the increasing number of returns and replacement items worldwide represents one of the key factors supporting the growth of the market. Besides this, the growing adoption of reverse logistics due to the growing cross-border trades around the world is offering a positive market outlook.
Apart from this, the rising development of automation technologies in reverse logistics is offering lucrative growth opportunities to industry investors. Moreover, governing agencies of several countries are implementing various initiatives to establish transportation infrastructure, which is positively influencing the market.
Furthermore, the rising adoption of reverse logistics by numerous businesses to easily and effectively manage the return of products is strengthening the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Return Type:
- Recalls
- Commercial Returns
- Repairable Returns
- End-of-Use Returns
- End of life Returns
Breakup by Service:
- Transportation
- Warehousing
- Reselling
- Replacement Management
- Refund Management Authorization
- Others
Breakup by End User:
- E-Commerce
- Automotive
- Pharmaceutical
- Consumer Electronic
- Retail
- Luxury Goods
- Reusable Packaging
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the Top Reverse Logistics Companies Worldwide:
C.H. Robinson Worldwide Inc., Core Logistic Private Limited, Deutsche Post AG, Fedex Corporation, Happy Returns Inc. (PayPal Holdings Inc.), Kintetsu World Express Inc. (Kintetsu Group Holdings), Optoro Inc., Pitney Bowes Inc., Reverse Logistics Group, Safexpress Pvt Ltd, United Parcel Service Inc. and Yusen Logistics Co. Ltd. (Nippon Ysen Kabushiki Kaisha).
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