The latest research study “Reverse Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that 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 supply chain management technique that transports goods from customers back to the sellers or manufacturers. It involves refurbishment, recycling, reselling restocked items, and reclamation of raw materials. Reverse logistics also consists of the management and sale of returned and surplus equipment and machines. It contains various steps, such as processing, dealing with returns, maintaining the movement of returns, recycling, and repairing. Reverse logistics provides improved brand image, greater customer satisfaction, enhanced sustainability, reduced waste, and faster and enhanced service. As a result, it finds extensive applications across several sectors, including automotive, e-commerce, pharmaceutical, retail, consumer electronics, luxury goods, etc.
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Reverse Logistics Market Trends and Drivers:
The escalating number of returns and replacement of items, on account of the expanding e-commerce industry, is among the primary factors driving the reverse logistics market. Besides this, the elevating industrialization levels and the development of modern manufacturing infrastructures across the emerging economies are further augmenting the market growth.
Apart from this, the growing popularity of internet of things (IoT)-enabled connected devices is also catalyzing the global market. Moreover, the increasing levels of investments by the leading players for the improvement of supply chain management processes are acting as significant growth-inducing factors.
Furthermore, the rising demand for these solutions across the electrical, automotive, and pharmaceutical sectors is expected to bolster the reverse logistics market in the coming years.
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Global Reverse Logistics Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 Y?sen Kabushiki Kaisha).
The report has segmented the market on the basis of region return type, service and end user.
Breakup by Return Type:
- Commercial Returns
- Repairable Returns
- End-of-Use Returns
- End of life Returns
Breakup by Service:
- Replacement Management
- Refund Management Authorization
Breakup by End User:
- Consumer Electronic
- 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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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