The global retail ready packaging market size reached US$ 72.29 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 96.48 Billion by 2028, exhibiting a growth rate (CAGR) of 4.83% during 2023-2028. The increasing requirement for convenient shipping and packaging materials, rising sales of consumer electronics and the expanding product application in the pharmaceutical sector represent some of the key factors driving the market.
Retail ready packaging (RRP), also known as shelf-ready packaging, is a secondary packaging solution that aids in optimizing stock. It includes pallet displays, case stackers, and counter displays, which are commonly manufactured using plastic, paper, and paperboards. It is lightweight, appealing to the eyes, and reduces the time needed to unpack products and set up displays. It offers numerous other advantages, such as easy handling and replenishment, and helps in effective brand promotion, improving product identification and shelf-life, and protecting the packed fragile items from mechanical stress while transporting them from one place to another. Besides this, it aids in reducing packaging waste, eliminating the need for external secondary packaging materials, and minimizing labor and overall operation costs. At present, it is extensively used in the food and beverage (F&B) industry across the globe to keep moisture away and retain the aroma and flavor of packed items for a long time.
Retail Ready Packaging Market Trends:
- The growing working population and the escalating demand for processed foods and beverages around the world are among the major factors currently positively influencing the market. In addition, considerable growth in the food and beverage (F&B) industry, coupled with the expansion of fast-food restaurants, hotels, cloud kitchens, and cafes, is catalyzing the demand for retail ready packaging solutions. Apart from this, rapid urbanization, industrialization, and the expansion of manufacturing units, along with the rising need for convenient shipping and packaging materials across different industry verticals, are contributing to the market growth. Furthermore, the escalating demand for consumer electronics worldwide and the widespread utilization of retail ready packaging materials in the electronics industry to prevent handling and storage damages during transportation is offering a favorable market outlook. Additionally, the growing prevalence of various chronic diseases is resulting in the rising requirement for efficient packaging products in the pharmaceutical industry to cushion and safeguard medicines from unfavorable climatic conditions. This, in turn, is offering lucrative growth opportunities to manufacturers. Moreover, the key players are continuously investing in marketing strategies, such as mergers and acquisitions (M&A), expansions, collaborations, and partnerships with global companies to expand their market reach and consumer base.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each segment of the global retail ready packaging market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, material, and end user.
Product Type Insights:
- Die Cut Display Containers
- Corrugated Cardboard Boxes
- Shrink Wrapped Trays
- Folding Cartons
- The report has provided a detailed breakup and analysis of the retail ready packaging market based on the product type. This includes die cut display containers, corrugated cardboard boxes, shrink wrapped trays, folding cartons, and others. According to the report, die cut display containers represented the largest segment.
- Paper and Paperboard
- A detailed breakup and analysis of the retail ready packaging market based on the material has also been provided in the report. This includes plastic, paper and paperboard, and others. According to the report, plastic accounted for the majority of the market share.
End User Insights:
- Food and Beverage
- Personal Care and Cosmetics
- A detailed breakup and analysis of the retail ready packaging market based on the end user has also been provided in the report. This includes food and beverage, pharmaceuticals, electronics, personal care and cosmetics, and others. According to the report, food and beverage accounted for the largest market share.
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. According to the report, North America was the largest market for retail ready packaging. Some of the factors driving the North America retail ready packaging market included the expansion of hotels and quick service restaurants (QSRs), increasing consumption of convenience foods, rising usage of electronic products, etc.
- The report has also provided a comprehensive analysis of the competitive landscape in the retail ready packaging market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Caps Cases Ltd, DS Smith PLC, Green Bay Packaging Inc., Kapco Packaging, Mondi plc, Smurfit Kappa Group PLC, STI - Gustav Stabernack GmbH, The Cardboard Box Company, The International Paper Company, Vanguard Packaging, LLC, Weedon Group, WestRock Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global retail ready packaging market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global retail ready packaging market?
- What are the key regional markets?
- Which countries represent the most attractive retail ready packaging markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global retail ready packaging market?
- Who are the key players/companies in the global retail ready packaging market?