Pune, India, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The global retail ready packaging market size was valued at USD 85.11 billion in 2022 and the market is projected to grow from USD 88.74 billion in 2023 to USD 125.19 billion by 2030, exhibiting a CAGR of 5.04% during the forecast period.
The concept of retail ready packaging has gained significant popularity in recent years as the purpose of this type of packaging is to save retailers’ time and effort. Retailers do not have to use separate packaging materials to get their products ready for sale, thereby helping them focus on other core retail activities. The details and styling given to the packaged boxes can help companies boost the value of their products and act as an effective medium for promoting their brand. These factors are expected to fuel the retail ready packaging market growth.
Fortune Business Insights presents this information in its report titled, “Retail Ready Packaging Market Size, Share Growth and Report Forcast , 2023-2030.”
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List of Key Players Covered in the Retail Ready Packaging Market Report:
- DS Smith plc (U.K.)
- Smurfit Kappa Group plc (Ireland)
- Mondi (U.K.)
- International Paper Company (U.S.)
- Caps Cases Limited (U.K.)
- Orora Packaging Australia Pty Ltd (Australia)
- WestRock Company (U.S.)
- Kapco Packaging (India)
- Amcor Limited (Australia)
- Georgia Pacific LLC (U.S.)
- Clearwater Paper Corporation (U.S.)
- Packaging Corporation of America (U.S.)
- Weedon Group Ltd. (U.K.)
- STI Group (Germany)
- Ashtonne Packaging (India)
Competitive Landscape
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent retail-ready packaging players are adopting several strategies to bolster their position in the market. One such key strategy is acquiring companies to boost their brand value among users. Another essential strategy is to launch innovative products at regular intervals by conducting a detailed study of the market and its target audience.
Key Industry Development
June 2023 – Sustainable packaging solutions provider DS Smith launched a new sustainable shelf-ready packaging solution, DD Wrap. The new solution has been created to promote the company’s circular economy efforts by minimizing waste and saving resources at the core of the design.
COVID-19 Impact
Global Market Hampered by Rising Online Shopping Demand During COVID-19
Nearly every industry's production chain was adversely impacted by the pandemic. Many manufacturers even postponed their activities, which decreased the market’s growth rate considerably. Similarly, the closing of big convenience stores and neighborhood shops had a negative impact on the expansion of the market for retail-ready packaging. Virtual and online stores drive the growth of the packaging industry, which, in turn, hinders the development of the retail-ready packaging market. Demand for premium brands and B2B shipping packaging decreased significantly as a result of lockdowns, which further restrained the market progress.
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https://www.fortunebusinessinsights.com/retail-ready-packaging-market-104915
Segments
Paper & Paperboard Packaging to Dominate Market Due to High Usage in Retail Sector
Based on material, the market is segmented into paper & paperboard and plastic. The paper & paperboard segment holds a dominant retail-ready packaging market share as manufacturers are introducing reusable and recyclable packaging materials to reduce the negative impact of their packaging on the environment.
Demand for Corrugated Boxes as Sustainable Packaging Solution to Gain Momentum
Based on product type, the market is segmented into corrugated boxes, folding cartons, trays, and containers. The corrugated boxes segment is expected to capture the largest market share. Die-cut display cases and corrugated boxes or cardboard boxes are likely to remain the largest source of revenue in the global market as the overall demand for eco-friendly packaging solutions is rising among customers.
Growing Consumption of Processed Foods will Accelerate Market Progress
Based on end user, the market is segmented into food & beverage, personal care & cosmetics, pharmaceutical, printing & stationery, and others. The food & beverage segment dominates the market due to the rising consumption of ready-to-eat & processed foods by consumers worldwide.
The market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The research report offers a completed assessment of the industry by providing key facts, insights, market size, historical data, and other industry-related information. A wide range of approaches and methodologies have been used to make meaningful assumptions and views while making this report. It also makes a detailed analysis of the market segments, such as product type, end-user, material, and regions to assist readers in getting a better overview of the industry.
Driving Factors
Advancements in Printing to Improve Brand Image Will Propel Market Growth
Advancements in digital printing and finishing techniques have offered a wide range of choices to customize content for certain occasions, retail locations, or client preferences. Standardized packaging can greatly improve the effectiveness of retail-ready packaging systems as it takes less time to set up the machine, utilizes fewer pressed variants, and improves the productivity of the retail staff. Many leading retailers are encouraging the use of flexible packaging in ready-to-retail packaging items to save on labor costs, further expanding the global market share.
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Regional Insights
North America to Take Lead Energized by Availability of Advanced Technologies and Solutions
North America is expected to lead the market share as it has a strong economic position. This factor enables the region to gain easy access to cutting-edge solutions and technologies. These benefits have given regional organizations a competitive edge in retail packaging. North America also has a vast pool of corrugated packaging suppliers, which will further boost the regional market growth.
The market in Europe is set to show steady growth as the region is increasing its investments in chemical recycling technologies, which will help the packaging industry grow at a commendable pace.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Retail Ready Packaging Market
- Global Retail Ready Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Material
- Paper & Paperboard
- Plastic
- Market Analysis, Insights, and Forecast – By Product Type
- Corrugated Boxes
- Folding Cartons
- Trays
- Containers
- Market Analysis, Insights, and Forecast – By End User
- Food & Beverages
- Personal Care & Cosmetics
- Pharmaceutical
- Printing & Stationary
- Others
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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