Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The global retail ready packaging market (小売準備済み包装市場) was projected to attain US$ 81.4 billion in 2023. It is likely to garner a 2.4% CAGR from 2024 to 2032, and by 2032, the market is likely to attain US$ 102.2 billion.
A different type of packaging that aids in stock optimization is called retail ready packaging, or RRP for short. Case stackers, pallet displays, and counter displays are among its components; these are usually composed of paper, plastic, and paperboard.
RRP has advantages, including light weight, easy handling, and efficient replenishing. Due to their widespread recycling potential and ability to effectively promote brands, RRP products are well-liked globally.
One of the most important packaging options for the food and consumer products industry is retail ready packaging. Beautifully designed packaging containers have the added advantage of saving time when assembling displays or unpacking goods. Labor and total operational costs can be decreased with retail ready packaging. Additionally, it reduces packing waste.
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Key Findings of the Market Report
- Die-cut display cases are seen to be a creative way to package goods for sale.
- Supermarkets and hypermarkets use them extensively.
- Since they can be reused, die-cut display containers are becoming more and more popular among merchants and manufacturers as a cost-effective way to keep products secure.
- Consequently, this is increasing the demand for retail ready packaging.
- Since ready-to-display packaging reduces shipping expenses, more money may be allocated to other marketing initiatives like promotions and advertising.
- It also reduces labor expenses and improves the shopping experience for customers.
Market Trends for Retail Ready Packaging
- Retail ready packaging offers manufacturers an affordable option to maintain their brand image while also providing retailers with an easier way to stock and display items. This packaging substitute reduces the amount of garbage that is dumped in landfills by utilizing less plastic in the packaging components.
- In the foreseeable future, several nations anticipate stable growth in the retail sector. The Retailer Association of India (RAI) stated in 2021 that sales of consumer durables had increased by 15% and that the retail industry had reached 93% of pre-COVID levels.
- This expansion raises awareness of the need to reduce material waste, which boosts sales in the retail ready packaging sector.
Global Market for Retail Ready Packaging: Regional Outlook
- In 2023, North America held the greatest share of this market globally. The retail sector's expansion is improving the region's market dynamics.
- The National Retail Federation predicted that retail sales in the United States will increase from US$ 5.13 trillion in 2022 to US$ 5.23 trillion in 2023.
- Retail-ready packaging is becoming more and more common in the United States and Canada, where major retailers like Walmart and Kroger are leading the way.
- A large number of enterprises in North America is adopting new, more consumer-friendly, and economically viable package designs. As a result, the region's retail-ready packaging market share is growing.
Global Retail Ready Packaging Market: Competitive Landscape
Leading companies in the global retail ready packaging industry are concentrating on creating customized goods for niche advertising.
For brand exposure, they provide creative package designs that are ready for retail. To remain competitive, brands may include dynamic visuals, interactive components, and inventive structural designs into package solutions that are ready for retail. The following companies are well-known participants in the global retail ready packaging market:
- DS Smith plc
- Smurfit Kappa Group
- International Packaging Corporation
- WestRock Company
- Menasha Packaging Company, LLC
- Klöckner Pentaplast Group
- Georgia-Pacific LLC
- Pratt Industries Inc.
- McLean Packaging Corporation
- Fencor Packaging Group Limited
Some key developments by the players in this market are:
- In 2022, Smurfit Kappa UK Limited (SKUK), an integrated maker of paper-based packaging goods, announced the acquisition of Atlas Packaging in Barnstaple, North Devon. An independent supplier of corrugated packaging is Atlas Packaging.
- A brand-new kraftliner called AvantForte WhiteTop, made entirely of virgin fiber, was introduced by Stora Enso in 2022. It is intended for high-end markets including fresh food, e-commerce, and shelf-ready packaging.
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Global Retail Ready Packaging Market Segmentation
By Product Type
- Die Cut Display Containers
- Corrugated Cardboard Boxes
- Shrink-wrapped Trays
- Plastic Containers
- Folding Cartons
- Modified Cases
- Others (Promotional Bins, etc.)
By Material Type
- Paper & Paperboard
- Plastics
- Others (Metals, Fiberboard, Glass, etc.)
By Application
- Food
- Dairy Products
- Fruits & Vegetables
- Pet Food
- Baby Food
- Confectionery
- Meat, Poultry & Seafood
- Others
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Health & Beauty Products
- Household Products
- Electronics
- Flowers
- Others (Gifts, Flowers, Fashion Items, etc.)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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