Sales of Die-Cut Display Containers and Corrugated Cardboard Boxes to Hold 55% of the Retail Ready Packaging Market Share
The Fact.MR market study on the retail ready packaging market provides deep dive into key developments in the retail ready packaging market. The report offers comprehensive analysis of leading segments in terms of product type, by material type, by application, by end- user and region.
NEW YORK, Feb. 8, 2022 /PRNewswire/ -- The global retail ready packaging market is estimated to grow at a CAGR of 6.2% during 2022-2032 with an estimated market valuation of USD 66.4 Billion in 2022 and is forecast to surpass USD 121.5 Billion by 2032.
Club stores and mass retails have been expanding at a rapid pace where the launch of the various smaller formats of places is anticipated to act as a major driver for the market. Also, retail stores and shops consist of a very limited offer in their product selection than their traditional counterparts. These must obtain notable benefits from RRP's ability to increase shelf-space efficiency and less time-consuming functionality.
Moreover, RRP has been preferred by every retailer over the past half-decade because of its ability to provide an efficient shopping experience for consumers especially performing impulse purchases.
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The global retail ready packaging market accounted for over 7% of the market share in the global packaging industry market valuation in 2021 and is expected to expand due to augmented consumer spending on sustainable retail ready packaging available in the market.
The presence of various major corrugated board packaging vendors in this region, such as Georgia-Pacific LLC, International Paper Company and West-Rock Company in the United States provides an extremely lucrative market scenario for retail ready packaging manufacturers having a strong supply-chain network in US.
Whereas the additional supply chain costs and lack of standardization are issues predicted to challenge the growth of the retail-ready packaging market during the tenure of the forecast period 2022-2026.
Report Attributes | Details |
Base Year Value (2021A) | USD 65.1 Billion |
Estimated Year Value (2022E) | USD 66.4 Billion |
Projected Year Value (2032F) | USD 121.5 Billion |
Global Growth Rate (2022-2032) | CAGR 6.2% |
Key takeaways:
- North America contributed more than 25% market share of the overall market valuation for retail ready packaging and is poised to grow at the pace of 7.1% CAGR during forecast period of 2022-2032.
- U.S retail ready packaging market size is anticipated to grow with 7.6% CAGR over next ten years and is forecast to reach a market valuation of USD 19.7 Billion by the end of 2032.
- By end-user, food & beverages are anticipated to lead the global market for retail ready packaging, with 27% of market share it is considerably larger than those of all the other end-user segments combined.
- By product type, over 50% of the market share has been projected for paper & paperboard during the forecast period.
Growth Drivers:
- Demand in the growth of club stores and mass retailers, along with surging food & beverage sales is expected to drive the retail ready packaging market growth.
- Demand for retail ready packaging is driven by its improving product identification and increasing brand visibility.
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Competitive Landscape:
The various leading players in the retail ready packaging market are focusing on offering various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships.
- New product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers.
- In 2019 June, DS Smith PLC launched more sustainable, robust and zero-waste ready packaging to provide more convenient and affordable product types.
Key Companies Profiled by Fact.MR
- Smurfit Kappa Group plc
- DS Smith plc
- Mondi
- Amcor Limited
- International Paper Company
- LINPAC Packaging
- i2i Europe Ltd
- Caps Cases Ltd
More valuable Insights on Retail ready packaging Market
Fact.MR, in its report, offers a market analysis of the global retail ready packaging market analysing forecast period through 2022 and beyond. This survey reveals the growth of technology in the retail ready packaging market with detailed segmentation as follows: -
- By Material Type:
- Polyethylene Terephthalate (PET, PETE, PETG or polyester)
- High Density Polyethylene (HDPE)
- Polyvinyl Chloride (PVC)
- Low Density Polyethylene (LDPE)
- Polypropylene (PP)
- Polystyrene (PS)
- Paper & Paperboard
- Others
- By Product Type:
- Die-cut Display Containers
- Corrugated cardboard boxes
- Shrink-wrapped trays
- Plastic Containers
- Folding Cartons
- Modified Cases
- Other Products
- By Application:
- Dairy Products
- Fruits & Vegetables
- Pet Food
- Baby Food
- Meat, Poultry, & Seafood
- Alcoholic Beverages
- Electronics
- Non-alcoholic Beverages
- Health & Beauty Products
- Household Products
- By End User:
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Printing & Stationary
- Electrical & Electronics
- Other Industries
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions covered in the Retail ready packaging Market Report
What is the global retail ready packaging market scenario?
How far is the global demand expected to reach over the forecasted period?
What was the last 5-year CAGR for the demand in the retail-ready packaging market?
Who are the prominent players in the global retail ready packaging market?
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