Retail Ready Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Retail Ready Packaging Market - Information Report by Material, by Type, by End-user and by Region - Global Forecast To 2030” the market is expected to achieve USD USD 93530 Mn by 2030, at a 4.39% CAGR.
Industry Trends
Increasing inclination towards online shopping fuels market growth. Also, rising investments in innovation and stronger support from governments worldwide accelerate the retail ready market value. On the other hand, price volatility and the demand-supply gap in raw materials are major factors projected to impede the market growth.
Nevertheless, smart, robot-assisted production and packaging would support market growth throughout the review period, maximizing profitability. The emergence of retail-ready display boxes, including containers with regular slots and cut-outs for display purposes, open-top tray-style boxes, and full telescoping boxes, has positively impacted the market growth.
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Dominant Key Players on Retail Ready Packaging Market covered are:
DS Smith PLC (The UK)
Georgia-Pacific LLC. (The US)
Green Bay Packaging Incorporated (The US)
Vanguard Companies (The US)
Mondi Group (Austria)
The Cardboard Box Company (The UK)
International Paper Company (The US)
Smurfit Kappa Group (Dublin)
Weedon Group (The UK)
WestRock Company (The US)., among others.
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COVID-19 Impact
The COVID-19 outbreak hit the retail ready packaging industry severely, causing huge revenue losses to end-users. The industry faced severe revenue losses, despite the demand for fresh food & beverages remained significant. Besides, the coronavirus-driven lockdown also halted the production of several key raw materials in the global market, which spiked prices and lowered demand for retail ready packaging.
Manufacturers faced various problems, such as disrupted raw material supply chains required for the production, attracting workers from quarantines, and deliver end products to the market. However, the retail ready packaging market is rapidly returning to normal, witnessing the steadily increasing demand. The rising consumption of intelligent packaging solutions due to increased production activities and demand for storage and distribution applications is estimated to offer robust market opportunities.
Segmentation
The retail ready packaging market analysis is segmented into types, materials, end-users, and regions. The type segment is sub-segmented into die-cut display containers, shrink-wrapped trays, modified cases, plastic containers, and others. The material segment is sub-segmented into paper & paperboard, plastics, and others. The end-user segment is sub-segmented into food, beverage, household product, and others. The region segment is sub-segmented into Asia Pacific, Europe, Americas, and rest-of-the-world.
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Regional Analysis
North America leads the global retail ready packaging market, mainly due to the region's strong financial position that allows vast investments in advanced solutions and technologies required in retail-ready packaging. The region observes superior product development for packaging solutions, providing a competitive edge to many organizations in the region.
Besides, the strong presence of major packaging vendors, such as International Paper Company, Georgia-Pacific, and WestRock Company in the region, boosts the region's retail ready packaging market share. The US holds a larger share in the regional market due to its burgeoning eCommerce sector. Strict food safety policies boost the smart packaging demand in the food & beverage sector in the US and Canada, substantiating the retail ready packaging market growth.
Europe stands second in terms of the global retail ready packaging market revenue. High awareness of environment protection and consumer-centric economy are major retail ready packaging market trends. Moreover, the strong preference for retail ready packaged products and spurring rise in the bakery industry push the retail ready packaging market size.
Increased demand for fresh vegetables and fruits fosters the region's retail ready packaging market value. Retail-ready packaging manufacturers in the region constantly offer new, sustainable packaging that can decrease environmental footprint at every point in the supply chain. Furthermore, the vast adoption of retail-ready packaging solutions propels market growth.
The Asia Pacific region is a profitable market for retail-ready packaging solutions, mainly due to the high production of fresh produce. The expansion of consumer base and supply chains and substantial growth of the food & beverage industry are prominent retail ready packaging market trends.
Competitive Analysis
The retail ready packaging market witnesses several strategic initiatives, such as mergers & acquisitions, collaboration, expansion, and product launches. Leading industry players also make strategic investments to drive research and development activities and their expansion plans.
Due to the rising consumer demand for sustainable packaging, manufacturers strive to offer innovative designs that can enhance the direct visibility and longevity of products. They improve their practices and bring innovative solutions to our customers.
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Segmentation of Market covered in the research:
Information Report by Material (Paper & Paperboard, Plastics and others), by Type (Die-cut Display Containers, Shrink Wrapped Trays, Modified Cases, Plastic Containers and others), by End-user (Food, Beverage, Household Product and others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
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