Pune, India, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The global retail ready packaging market size was valued at USD 81.76 billion in 2021. The market is projected to grow from USD 85.45 billion in 2022 to USD 120.39 billion by 2029, exhibiting a CAGR of 5.0% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Retail Ready Packaging Market, 2022-2029.” The market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 5.0 % |
| 2029 Value Projection | USD 120.39 Billion |
| Base Year | 2021 |
| Retail Ready Packaging Market Size in 2022 | USD 85.45 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 123 |
| Segments Covered | By Type, End-user and Regional Insights |
| Retail Ready Packaging Industry Growth Drivers | Paper & Paperboard Packaging Dominates Industry Due to High Usage in the Retail Sector |
| Growing Consumption of Ready-to-eat Processed Food Across the Globe is Slated to Fuel Industry Growth |
Report Coverage
The report presents a systematic study of the market segments and a thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to drive market growth.
Regional Insights
Canada to Take Lead Energized by Availability of Advanced Technologies and Solutions
Due to its strong economic position, North America has easy access to cutting-edge solutions and technologies. These benefits have given regional organizations a competitive edge in retail packaging.
The COVID-19 crisis's effects on the majority of client industries contributed to the European plastic industry's USD 335 billion in sales, a modest decline from the prior year.
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List of Key Players Covered in the 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)
- Belmont Packaging Limited (U.K.)
- Visy (U.S.)
- Atlantic Packaging Products Ltd (U.S.)
- WH Skinner (U.K.)
- VPK Group (Belgium)
- Vel-Vin Packaging & Paper Products (India)
- Napco National (Saudi Arabia)
Driving Factors
Demand for Retail Ready Packaging is Driven by Printing Innovation and Boosts Brand Image
Modern advancements in digital printing and finishing techniques provide a variety of choices for content customization for particular occasions, retail locations, or client preferences. Standardized packaging improves the effectiveness of retail-ready packaging systems since it involves less time to set up the machine, uses fewer pressed variants, and ultimately improves the effectiveness of the retail staff. Major retailers are promoting the use of flexible packaging in ready-to-retail packaging to save labor costs, moving away from models that require bars to hang bags.
Key Industry Development
April 2022: Sidel introduced PressureSAFE, a PET aerosol container for household and personal care goods that is permitted for recycling in conventional PET streams and boasts a reduced carbon footprint than alternatives made of aluminum.
COVID-19 Impact
Global Market will be Hampered by Rising Online Shopping Demand
Nearly every industry's production chain has been adversely impacted by the pandemic; many have delayed work, which has decreased market rates. Similarly, the closing of big convenience stores and neighborhood shops had an impact during the closure period, which had an impact on the expansion of the market for retail-ready packaging. The packaging sector is significantly influenced by department stores and online retailers, which is impeding the retail-ready packaging market growth. Demand for premium brands and B2B shipping packaging has recently decreased as a result of lockdowns.
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Segments
Paper & Paperboard Packaging Dominates Market Due to High Usage in the Retail Sector
Based on material, the market is segmented into paper & paperboard, and plastic. The paper & paperboard material type holds a dominant retail-ready packaging market share.
Demand for Corrugated Boxes Packaging as a Sustainable Solution to Gain Momentum
Based on product type, the market is segmented into corrugated boxes, folding cartons, trays, and containers. In terms of 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.
Growing Consumption of Ready-to-eat Processed Food Across the Globe is Slated to Fuel Market Growth
Based on end user, the market is segmented into food & beverages, personal care & cosmetics, pharmaceutical, printing & stationery, and others. The retail-ready packaging share trend has emerged due to cost initiatives by retailers and increasing consumer demand for sustainable packaging products.
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 Industry Analysis (USD Billion), Insights and Forecast, 2018-2029
- 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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