Asia-Pacific Reverse Logistics Market, By Return Type (Returns, Returns Avoidance, Remanufacturing, Refurbishing, Packaging, Unsold Goods, End-Of-Life, Delivery Failure, Rentals & Leasing, Repairs & Maintenance, and Others), Components (Return Policy and Procedure (RPP), Remanufacturing Or Refurbishment (ROR), and Waste Disposal (WAD)), Service Type (Transportation, Warehousing, Reselling, Replacement Management, Refund Management Authorization, and Others), End-User (Textile and Garments, Automotive, Consumer Electronics, E-Commerce, Retail, Luxury Goods, Pharmaceutical, Reusable Packaging, and Others), Country (China, Japan, South Korea, Australia, Malaysia, Singapore, India, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific), Industry Trends and Forecast to 2029.
Market Analysis and Insights : Asia-Pacific Reverse Logistics Market
Asia-Pacific reverse logistics market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.3% in the forecast period of 2022 to 2029 and is expected to reach USD 371,190.21 million by 2029. Increased adoption of smartphones and online shopping is expected to drive the market's growth.
Reverse logistics is a type of supply chain management that various organizations follow in order to move goods/products from customers back to the sellers/manufacturers in an organized and safe manner. Once a customer receives a product, the processes in which the customer wishes to return or recycle the product comes under reverse logistics. Reverse logistics start at the end of the consumer, moving backward through the supply chain of the distribution management to the distributor and from the distributor to the product's manufacturer. Reverse logistics can also include processes where it is responsible for the final disposal of the product, including recycling or resale of the product. Fundamentals steps involved in reverse logistics management process the return, deal with returns, keep returns moving, repair, and recycle.
The major factors driving the growth of the reverse logistics market are rising growth in cross-border trades, globalization, and rapid growth in the e-commerce sector. However, the high cost associated with reverse logistics may act as a major restraint for the reverse logistics market.
The growing inclination towards digitization of the sector is creating opportunities for the growth of the market. On the other hand, inadequate labor resources to handle returns may act as a major challenge for the growth of the market.
This Asia-Pacific reverse logistics market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Reverse Logistics Market Scope and Market Size
Asia-Pacific reverse logistics market is segmented on the basis of the return type, components, service type and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of the return type, the Asia-Pacific reverse logistics market is segmented into returns, returns avoidance, remanufacturing, refurbishing, packaging, unsold goods, end-of-life, delivery failure, rentals & leasing, repairs & maintenance, others. In 2022, the returns segment is expected to hold a larger share in the reverse logistics market due to rapid growth in online platforms that have boosted the returned products rates in the Asia-Pacific region, as consumers are ordering various products.
- On the basis of components, the Asia-Pacific reverse logistics market is segmented into return policy and procedure (RPP), remanufacturing or refurbishment (ROR), and waste disposal (WAD). In 2022, the return policy and procedure (RPP) segment is expected to hold a larger share in the reverse logistics market due to rapid growth in the E-commerce sector. Strict frame policies such as return policy and procedure needed to be implemented so that fraudulent activities are avoided when products are returned.
- On the basis of service type, the Asia-Pacific reverse logistics market is segmented into transportation, warehousing, reselling, replacement management, refund management authorization, others. In 2022, the transportation segment is expected to hold a larger share in the reverse logistics market owing to factors such as growing need for proper management and transportation of returns, as a huge number of products are returned. Therefore safe and efficient retrieval of products is important.
- On the basis of end-user, the Asia-Pacific reverse logistics market is segmented into textile and garments, E-commerce, automotive, pharmaceutical, consumer electronics, retail, luxury goods, reusable packaging, others. In 2022, the E-commerce segment is expected to hold a larger share in the reverse logistics market due to factors such as digital infrastructure and growth in internet penetration, strong 5G infrastructure, and others, which enable consumers to purchase return products easily using E-commerce.
Asia-Pacific Reverse Logistics Market Country Level Analysis
Asia-Pacific reverse logistics market is segmented on the basis of the return type, components, service type and end-user.
The countries covered in the Asia-Pacific reverse logistics market report are China, Japan, South Korea, Australia, Malaysia, Singapore, India, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.
China is expected to dominate the Asia-Pacific reverse logistics market due to rising growth in cross-border trades, globalization, and rapid growth in the e-commerce sector.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand for Reverse Logistics
The reverse logistics market also provides you with a detailed market analysis for every country's growth in the industry with sales, components sales, the impact of technological development in reverse logistics, and changes in regulatory scenarios with their support for the reverse logistics market. The data is available for the historical period 2012 to 2020.
Competitive Landscape and Reverse logistics Market Share Analysis
The reverse logistics market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the Asia-Pacific reverse logistics market.
Some of the major players covered in the report are United Parcel Service of America, Inc., Deutsche Post DHL Group, FedEx, Kintetsu World Express, Inc., C.H. Robinson Worldwide, Inc., Core Logistic Private Limited, DGS Translogistics India Pvt. Ltd., IBM Corporation, Indev Group of companies, LogiNext Solutions Inc, Reverse Logistics Group, ReverseLogix, Safexpress Pvt. Ltd., Schenker AG, XPO Logistics, Inc, YUSEN LOGISTICS CO., LTD., among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately. Many product developments are also initiated by companies worldwide, which are also accelerating the growth of the reverse logistics market.
- In November 2021, United Parcel Service Of America, Inc. entered into a partnership with TuSimple Holdings Inc. The main objective of this partnership was to strengthen the company's transportation and logistics capabilities. This partnership has allowed the company to use autonomous Class 8 trucks to move logistic cargo in the southeastern and western U.S.
- In July 2021, Deutsche Post DHL Group obtained the contract from Lotus Cars for inbound-to-manufacturing warehousing and transport operations for the next five years. Through this, the company will offer transport and logistic services for Lotus manufacturing facilities. The contract has helped the company provide its services to its consumer in offering quality delivery services
Partnership, contract, joint ventures, and other strategies enhance the company's market share with increased coverage and presence. It also provides the benefit for an organization to improve their offering for the reverse logistics market through an expanded range of sizes.
Customization Available: Asia-Pacific Reverse Logistics Market
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