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Reverse Logistics Market Trends

Report ID: GMI6511
Published Date: Aug 2023
Report Format: PDF

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Reverse Logistics Market Trends

The concept of a circular economy is gaining momentum, and it's closely linked with reverse logistics. Companies are looking beyond simple returns management and exploring ways to extract maximum value from returned products and materials. This involves strategies such as refurbishing and reselling returned items, recycling materials to create new products, and designing products for easier disassembly and repair.

Citing an instance, in January 2023, Nike announced that it would recycle 1 billion plastic bottles from its suppliers, employees, and consumers and use them to create new shoes and apparel. Embracing a circular economy approach not only aligns with sustainability goals but also presents opportunities for cost savings and revenue generation, carving an upward growth trajectory for the reverse logistics business.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of reverse logistics reached USD 743.3 billion in 2022 and is set to register over 8% CAGR between 2023 and 2032.

The B2B returns and commercial returns masks segment is estimated to exhibit a growth of over 7% CAGR from 2023 to 2032, attributed to companies dealing with large volumes of products, leading to higher return rates due to quality issues, overstocking, or changing customer requirements.

Asia Pacific market share was over 50% in 2022, due to rapid economic growth, increased e-commerce adoption, and growing environmental awareness.

Blue Dart Express Ltd., C H Robinson Worldwide Inc., CMA CGM SA, Core Logistic Pvt. Ltd., Deutsche Post DHL Group, FedEx Corporation, Happy Returns LLC, Kintetsu World Express, Inc., NFI Industries, Inc., Pitney Bowes Inc., Reverse Logistics Group, RLG Systems AG, Safexpress Pvt. Ltd., United Parcel Service, Inc. (UPS), and Yusen Logistics Co., Ltd.