What is the global market size of Reverse Logistics Market?

Reverse Logistics Market size was valued at USD 840.70 billion in 2021 and is poised to grow from USD 946.63 billion in 2022 to USD 2446.17 billion by 2030, at a CAGR of 12.6% during the forecast period (2023-2030).

Global Reverse Logistics Market Size, Share, Growth Analysis, By Distribution channel(Direct returns to manufacturers, retail store returns), By Industry vertical(Retail, e-commerce), By Service type(Returns management, refurbishment) - Industry Forecast 2024-2031

Report ID: SQMIG20R2027 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 96 | Figures: 76

Global Reverse Logistics Market News

In February 2024, Beyoung, a well-known-fashion brand recognised for its stylish and cost-effective range, has entered into a strategic partnership with GoKwik, a prominent e-commerce provider in India. This collaboration is aimed at strengthening BeYoung’s online presence in India by improving the availability of cash-on-delivery (COD) services and addressing the challenge of high return-to-origin (RTO) rates.
In February 2024, Loop, the leading returns management platform in Ohio, announced new service offerings to empower merchants and logistics partners to improve reverse logistics operations and margins. A series of new features, integrations, and partnerships will enable logistics partners to share enriched data between Loop and merchant warehouses and allow brands to ship and move their returns more efficiently. This will allow for faster return processing, decreased shipping costs, better insight and control over return policy abusers, a reduction in unnecessary returns, and improved sustainability efforts.
In January 2024, DPD UK, an innovative carrier in the express parcels sector, has chosen Blue Yonder’s SaaS-based Returns Management solution to provide a digital returns portal, that will be made available to all of its retail customers.

Global Reverse Logistics Market Report Snapshots

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Global Reverse Logistics Market size was valued at USD 946.63 billion in 2022 and is poised to grow from USD 1065.91 billion in 2023 to USD 2754.39 billion by 2031, at a CAGR of 12.6% during the forecast period (2024-2031).

Global Reverse Logistics Market is highly competitive, with several key players vying for market share and striving to establish a strong foothold in the industry. Some of the prominent companies in the market leverage their extensive networks, advanced technological capabilities, and robust infrastructure to provide end-to-end reverse logistics services, including product returns, refurbishment, repair, recycling, and disposal. They also focus on innovation and process optimization to enhance operational efficiency and deliver superior customer experiences. To maintain their competitive edge, these players continuously invest in research and development, strategic partnerships, and mergers and acquisitions to expand their service offerings and geographic reach. Additionally, sustainability and environmental responsibility have become significant factors driving the competitive landscape, as companies strive to develop eco-friendly reverse logistics solutions that reduce waste and minimize carbon footprint. 'FedEx Corporation (US)', 'United Parcel Service, Inc. (US)', 'DHL Express (Germany)', 'XPO Logistics, Inc. (US)', 'CEVA Logistics (UK)', 'Kuehne + Nagel International AG (Switzerland)', 'C.H. Robinson Worldwide, Inc. (US)', 'DB Schenker (Germany)', 'Yusen Logistics Co., Ltd. (Japan)', 'Americold Logistics, LLC (US)', 'GEODIS (France)', 'Ceva Logistics (Netherlands)', 'Reverse Logistics Company (US)', 'Genco ATC (US)', 'Delamode Plc (UK)', 'Ryder System, Inc. (US)', 'DSV Panalpina A/S (Denmark)', 'Hellmann Worldwide Logistics (Germany)', 'DACHSER SE (Germany)', 'Toll Group (Australia)'

Increasing environmental consciousness and stringent government regulations are driving companies to adopt sustainable practices, including the implementation of effective reverse logistics processes. Organizations are focusing on reducing waste, recycling, and reusing products, which leads to the need for efficient reverse logistics operations. For example, electronic waste recycling has become a significant concern, and companies are developing reverse logistics systems to handle the proper disposal and recycling of electronic products.

Adoption of Technology: The reverse logistics industry is witnessing increased adoption of technologies such as automation, artificial intelligence (AI), and data analytics. These technologies streamline processes, improve efficiency, and provide valuable insights for decision-making. For example, AI-powered systems can automatically assess returned products, categorize them based on condition, and recommend appropriate disposition actions such as refurbishment, recycling, or resale.

North America stands at the forefront of the reverse logistics market, wielding a substantial share due to its robust infrastructure, advanced technology adoption, and efficient supply chain management. With a market share of approximately 35%, North America remains a powerhouse in reverse logistics. For instance, The USPS is a prime illustration of the effective implementation of reverse logistics practices. Not only does it excel in handling forward logistics, but it has also established comprehensive processes for product returns, refurbishment, and recycling. By leveraging its extensive network and streamlined operations, USPS has become a prominent player in the reverse logistics market. As a pioneer in e-commerce, Amazon has revolutionized reverse logistics by introducing innovative concepts like Amazon Prime Wardrobe and Frustration-Free Packaging. With its efficient return policies, timely refunds, and sophisticated reverse logistics infrastructure, Amazon has set a benchmark for other companies to follow.

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Global Reverse Logistics Market Size, Share, Growth Analysis, By Distribution channel(Direct returns to manufacturers, retail store returns), By Industry vertical(Retail, e-commerce), By Service type(Returns management, refurbishment) - Industry Forecast 2024-2031

Global Reverse Logistics Market News

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