The market report on the Retail Ready Packaging Market published by Stratview Research indicates lucrative growth opportunities in the Retail Ready Packaging industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Retail Ready Packaging Market Forecast:
The retail ready packaging market size was valued at USD 62.82 billion in 2021 and is likely to grow at a CAGR of 4.74% during 2022-2028 to reach USD 87.09 billion in 2028.
What is retail ready packaging?
Retail ready packaging is a type of packaging which can be directly put on the shelves for sale and requires minimal work and time to unload goods from the packaging.
Retail ready packaging also referred to as shelf-ready packaging is mainly used for faster-moving consumer goods. It offers effective utilization of space, and optimization of display and storage improving sales and visibility.
COVID-19 Impact
Covid-19 negatively impacted the retail-ready packaging market as the lockdowns and restrictions forced the retail stores to operate at limited capacity.
Here are the key players in the market –
- International Paper Company
- Georgia-Pacific LLC
- WestRock Company
- Amcor plc
- Smurfit Kappa Group plc
- Weedon Group Ltd
- LINPAC Group Limited
- Packaging Corporation of America
- BillerudKorsnäs AB
- SIG Combibloc Group AG
Retail Ready Packaging Market Segmentation:
The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.
Based on the product type, the market is segmented as die-cast display boxes, corrugated paper box, shrink wrapped trays, folding cartons, and others. Corrugated paper box is estimated to dominate the market during the forecast period, owing to their various benefits, such as it reduces stocking and labor cost easing handling, and being directly put on the shelves.
Based on the material type, the market is segmented as paper & paperboard, and plastics. Paper & paperboard are expected to remain the dominant material in the market during the forecast period, as it is eco-friendly and more economical than plastics. Paper & paperboard material is widely used to make corrugated boxes, folding cartons, and die-cut containers.
In terms of regions, Asia-Pacific is likely to maintain its dominance in the market during the forecast period, with China and India being the key growth engines of the region’s market. The region is also expected growth at the highest pace over the next five years. India and China are among the largest retail sectors in the world.
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