According to the latest report by IMARC Group, titled “Global Reverse Logistics Market Share, Size, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global reverse logistics market reached a value of US$ 563.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 812.6 Billion by 2027, exhibiting at a CAGR of 5.80% during 2022-2027.
Reverse logistics is the process of receiving products from customers back to the manufacturers or sellers for proper disposal. It is an integral part of the supply chain that is developed and implemented across different countries to extract the value from returned and damaged products. Reverse logistics comprises activities such as warehousing, reselling, refurbishing, recycling management, returns management, replacement management, and environmental compliance. It is an effective way of maintaining the flow of goods, creating value, completing the product life cycle, reducing cost, and decreasing risks.
Base Year: 2021
Forecast Year: 2022-2027
Reverse Logistics Market Trends and Drivers:
The global reverse logistics market is primarily driven by the growing popularity of the e-commerce industry, which has increased the overall volume of returns and replacement items.
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Besides this, the increasing development of manufacturing industries is also fueling the market growth as they allow retailers to deal with returns and process them efficiently. Reverse logistics also offers hassle-free multi-channel returns to minimize fraud and abuse. Furthermore, reverse logistics also play a crucial role in automotive, medical devices, electronics, and construction equipment, which is creating a positive market outlook.
Moreover, the introduction of blockchain technology in the logistics industry provides increased security, data flow automation to improve efficiency and speed, increasing traceability, and reducing paperwork, which is positively influencing the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Reverse Logistics Market 2022-2027 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).
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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 (2016-2021)
• Market Outlook (2022- 2027)
• 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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