Retail Packaging Market Size Worth USD 7.65 Billion in 2032 | Emergen Research

Vancouver, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The global retail packaging market size is expected to reach USD 7.65 Billion in 2032 and register a steady revenue CAGR of 5.1% over the forecast period, according to latest analysis by Emergen Research. Technological advancements and introduction of the Internet of Packaging (IoP) are driving revenue growth of the market. The traditional packaging business is undergoing a technology transformation called the ‘Internet of Packaging,’ which will improve customer and brand interaction. Advanced technologies including QR codes, smart labels, Radio Frequency Identification (RFID), and Near Field Communication (NFC) chips are used in smart packaging. Additional advantages of these creative solutions include improved security, integrity, and connection, the transformation of packaging materials into digital tools, and data portability. Through various offers, discount coupons, and video lessons, Augmented Reality (AR) offers packaging businesses the chance to better connect with customers. Brand of equipment allows teams to include diagnostic and indicative elements in their packaging and allows consumers to track the state of product in real-time which is also driving revenue growth of the market.

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However, use of packing materials is governed by laws being implemented by governments across the globe which are expected to restrain revenue growth of the market. For packing and labeling, every country has its specifications and laws. The Chinese Food Safety Law, the U.S. Food and Drug Administration (FDA), and these regulations while they can differ in some ways generally accomplish same goals, such as assuring the accuracy of label information and preserving physical and chemical purity of foods when it comes to food packaging. To decrease the chance of mistakes, which can end up in major losses, labels must be checked continuously. Errors in labeling and packing can result in contamination, consumer disorders, and even death, especially in allergy situations.

Scope of Research

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Major Companies and Competitive Landscape

The global retail packaging market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective database security. Some major players included in the global retail packaging market report are:

• DS Smith
• Weedon Direct
• Georgia-Pacific
• The Cardboard Box Company
• Mandi
• The Vanguard Group, Inc.
• Green Bay Packaging Inc.
• International Paper
• WestRock Company
• Smurfit Kappa

Strategic Development

On 26 June 2023, Packaging Compliance Labs (PCL) was acquired by SV Health Investors (SVHI), a Boston-based private investment group focusing only on the healthcare business. Packaging Compliance Labs, based in Grand Rapids, Michigan, provides healthcare packaging engineering, validation testing, and contract packaging services to the medical device and pharmaceutical end markets. In collaboration with Co-Founders Matthew Lapham and Ryan Erickson, PCL offers a new platform investment for SV Health Investors. Packaging Compliance Labs, founded in 2014, is a leading sterile packaging center of excellence, offering comprehensive healthcare packaging solutions to speed medical device and pharmaceutical product launches. PCL's comprehensive capabilities assist customers at every stage of the packaging process, from design to full-scale manufacturing.
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Some Key Highlights From the Report

• The plastics segment is expected to account for largest revenue share in the global retail packaging market over the forecast period. Plastic is the packaging material of choice in many industries. It is widely used for a variety of beauty and personal care products. Considering all the benefits, plastic packaging is becoming increasingly popular, which is creating a high demand for this product. The plastic properties ensure that packaging remains fresh for a long time and is protected from moisture and oxygen. The material is effective and can be manufactured and transported in greater dimensions owing to its lightweight. The plastic also provides shock and scratch resistance, reducing chipping and minimizing damage which is also driving revenue growth of this segment.
• The die-cut display containers segment is expected to register a significantly fast revenue growth rate in the global retail packaging market over the forecast period. Die-cut boxes offer a superior level of safety for product packaging. These boxes are constructed from sturdy cardboard material, featuring robust walls that ensure optimal protection for packaged products. Their design effectively safeguards against damage caused by sudden movements or impacts. Die-cut boxes are tailored to fit specific size and shape of the product, preventing any potential collision between items within packaging. In addition, these boxes provide a larger storage capacity compared to standard packaging boxes. They are often cut in larger sizes to accommodate a greater quantity of products in a single box. This enables manufacturers to optimize their shipping process by dispatching a larger stock volume at once, reducing the overall shipping frequency and costs which is driving revenue growth of this segment.
• The North America market is expected to account for largest revenue share in the global retail packaging market during the forecast period. This is attributed to increasing activities by key market players in countries in this region to develop various infrastructures to develop retail packaging products. For instance, on 7 June 2022, Closed Loop Partners announced that its Closed Loop Infrastructure Fund and Closed Loop Circular Plastics Fund will contribute USD 5 million to the establishment of an innovative flexible film recycling factory in Minnesota. The initiative, coordinated by the MBOLD alliance, brings together the corporate community and academic institutions to create a regional circular economy for flexible films and other plastic packaging materials in the United States Upper Midwest region. Many of the world's leading retailers, consumer products corporations, corporate foundations, and material science companies are represented by Closed Loop Partners' funds. This initiative, initiated by a consortium of Minnesota enterprises in collaboration with MBOLD, intends to expand recycling infrastructure and enhance the number of recovered materials accessible for use.

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For the purpose of this report, Emergen Research has segmented the global retail packaging market on the basis of material type, product type, application, and region:

• Material Type Outlook (Revenue, USD Billion; 2019–2032)
  • Paper & Paperboard
  • Plastics
  • Others
• Product Type Outlook (Revenue, USD Billion; 2019–2032)
  • Die-cut display containers
  • Corrugated cardboard boxes
  • Shrink wrapped trays
  • Folding cartons
  • Others
• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Food & Beverage
  • Pharmaceuticals
  • Electronics
  • Personal Care & Cosmetics
  • Other
• Regional Outlook (Revenue, USD Billion, 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of MEA

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