Retail Ready Packaging Market Size, Share and Industry Analysis Report by Product (Die Cast Display Box, Corrugated Paper Box, Shrink Wrapped Trays, Folding Cartons), Material (Paper & Paperboard, Plastic [PETE, PE]) and Industry (Food [Dairy Products, Fr

Retail Ready Packaging Market Size, Share and Industry Analysis Report by Product (Die Cast Display Box, Corrugated Paper Box, Shrink Wrapped Trays, Folding Cartons), Material (Paper & Paperboard, Plastic [PETE, PE]) and Industry (Food [Dairy Products, Fruits & Vegetables, Meat & Poultry], Beverages, Cosmetic & Personal Care, Pharmaceuticals), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

The retail ready packaging market is projected to witness exponential development by 2028 on account of the booming pharmaceutical industry.

Retail ready packaging is being rapidly adopted by various mass retailers, supermarkets, and e-commerce packaging vendors as it significantly reduces costs in supermarkets by saving on de-palletization. Many retail stores around the world are upgrading to ensure better distribution, optimization of shelf space, and ease of recycling, which has facilitated product uptake in recent years.

Moreover, to capitalize on emerging trends in the market, companies have been engaging in lucrative strategies, which has favorably impacted the overall business landscape of the retail ready packaging industry. For instance, in August 2021, Refresco Group B.V., a major bottler and beverage solutions provider, announced the acquisition of three production facilities in the U.S. from The Coca-Cola Company, a leading beverage corporation. The deal enabled Refresco to strengthen and expand its manufacturing footprint across strategic locations.

The retail ready packaging market has been segmented on the basis of application, material, product, and region. In terms of material, the market has further been bifurcated into paper & paperboard and plastic. Under plastics, the market has been categorized into PE, PETE, and others. The PETE segment accounts for around 30% market share and is expected to grow at a CAGR of above 4.5% through the assessment period.

From the viewpoint of product, the retail ready packaging market has been classified into folding carton, die cut, shrink wrapped tray, corrugated paper box, and others. The folding carton segment is estimated to amass substantial gains over the forecast period. Folding carton, also called box board, is a low grammage solid board that is ideally suited for the packaging of lightweight products. Rapid expansion of the retail industry, along with the proliferation of e-commerce, is likely to fuel product adoption.

With respect to application, the market has been segregated into pharmaceuticals, food, cosmetics & personal care, beverage, and others. Under food, the market has further been divided into meat & poultry, dairy products, and fruits & vegetables. The fruits & vegetables segment is anticipated to expand at a CAGR of approximately 5.1% over the study timeline. The pharmaceutical segment held a share of nearly 10% in 2021 and is set to reach a considerable valuation by the end of 2028.

On the regional spectrum, the North America retail ready packaging market registered a notable share of around 20% in the overall industry revenue in 2021 and is poised to gain substantial traction over the stipulated timeframe.