Retail Ready Packaging Market By Product Type (Die cut display containers, Corrugated cardboard boxes, Shrink wrapped trays, Folding cartons, Others), By Material (Plastic, Paper & Paperboard, Others), By Application (Food & Beverage, Pharmaceuticals, Electronics, Personal Care & Cosmetics, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global retail ready packaging market was valued at $ 65,143.4 million in 2021, and is expected to reach $ 107,812.03million by 2031, with a CAGR of 5.1% from 2022 to 2031. Secondary packaging that shows branding and aids in product identification is referred to as retail ready packaging. Retailers and brand owners gain profit from retail ready packaging, as its design aids in effective and efficient stocking and sales. In addition, it allows merchants to have convenient transportation and shelf restocking, while exhibiting the brand functions as a value-added feature for brand owners.
The fundamental quality of recyclability is the most important market driver. As retail ready packages are majorly prepared of paper and paperboard, they are easy to recycle. The printed designs and elements added to packaging boxes provide value to the product while also promoting the brand. Consumers are interested in utilizing things that are attractive to the eye, thus this is extremely desirable. They're light and easy to handle, with quick refilling, and they make the product more user-friendly.
The growth of the global retail ready packaging market is driven by surge in demand for packaged processed foods and drinks. In addition, the market is expected to exhibit high growth rate with the development of consumer products sector, which mainly consists of perishable goods such as packed foods. Furthermore, the demand for retail ready packaging has increased in fast-moving consumer goods (FMCG) as a result of creative and effective functional designs, which aid retailers in product identification, improve store efficiency, and reduce labor efforts by placing products directly on retail shelves without unpacking inner content and reducing turnover time for re-stocking, resulting in increased sales and profit. Aside from these advantages, retail ready packaging aids in the preservation of fragile and sensitive items. From the standpoint of the consumer, its product identification feature allows a convenient shopping experience, thus driving demand for retail ready packaging in the global market.
However, lack of consistency in the packaging process acts as a key deterrent factor of the global retail ready packaging market. As different types of products are subjected to different types of transportation and wear & tear, variable packaging quality is required. This is attributed to the fact that the use of the same packaging procedure for all items lowers product life and quality, which hampers the market expansion.
On the contrary, consistent innovations in packaging such as QR code scanning for details of product specifications, handbooks, and other information. This minimizes packing size and makes it more environmentally friendly. The global market need for retail ready packaging is further expected to be fueled by rise in penetration of e-commerce platforms as well as developments & automations in supply chains and logistics sector. E-commerce has a significant role in logistics, necessitating the use of retail ready packaging to assist the transit of massive quantities of items. Moreover, retail ready packaging severs as a suitable packaging method for moving large quantities of items, as it allows product identification without compromising the product's quality, integrity, or look. Thus, multiple benefits associated with retail ready packaging are anticipated to open new avenues for the expansion of the global retail-read packaging industry during the forecast period.
The global retail ready packaging market is segmented into product type, material, and application, and region. On the basis of product type, the market is segregated into die cut display containers, corrugated cardboard boxes, shrink wrapped trays, folding cartons, and others. Depending on material, it is fragmented into paper & paperboard, plastics, and others. By application, it is categorized into food & beverages, pharmaceuticals, personal care & cosmetics, electronics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in the retail ready packaging market include DS Smith, Georgia-Pacific LLC Green Bay Packaging Inc., International Paper, Mondi, Smurfit Kappa, the Cardboard Box Company, Vanguard Packaging, LLC, Weedon Group Ltd., and WestRock Company. Major companies in the market have adopted business expansion, acquisition, and product launch as their key developmental strategies to offer better products and services to customers in the retail ready packaging market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the retail ready packaging market analysis from 2021 to 2031 to identify the prevailing retail ready packaging market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the retail ready packaging market forecast.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global retail ready packaging market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Die cut display containers
Corrugated cardboard boxes
Shrink wrapped trays
Folding cartons
Others
By Material
Plastic
Paper Paperboard
Others
By Application
Food Beverage
Pharmaceuticals
Electronics
Personal Care Cosmetics
Other
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
DS Smith PLC.
Georgia-Pacific LLC.
Green Bay Packaging Incorporated
International Paper Company
Mondi Group
Smurfit kappa Group
The Cardboard Box Company
Vanguard Companies
Weedon Group
WestRock Company.
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