The global retail ready packaging market is estimated at USD 66.4 Billion in 2022 and is forecast to surpass USD 121.5 Billion by 2032, growing at a CAGR of 6.2% during 2022-2032.
With the growing provision for retail ready packaging for retailers, the inclination towards traditional retail packaging has declined. The overriding response towards retail ready packaging can be defined as their ability in enabling products to be placed directly onto the shelves or selling floor, without the need to unpack the inner contents. Fact.MR has vigorously compiled a new research study titled “Retail Ready Packaging Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2026“,
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which has been published on its online portal. It has been observed that demand for RRP is further encouraged by its indispensable role to improve product identification as well as augment brand visibility.
According to the investigated report, the global retail ready packaging market is likely to portray average growth at 4.6% CAGR, in terms of volume, during the stated forecast period until 2026. Furthermore, the study estimates the target market is projected to exceed US$ 100,000 in revenues by 2026-end. The fundamental motive of this assessment is to highlight the comprehensive scenario prevailing across the global retail ready packaging market, together with the anticipated future market status when influenced by ongoing trends and opportunities.
Food & Beverage Segment to Retain their Foremost End-User Position
The food & beverages end-user division is likely to dominate the global market for retail ready packaging. It has been noticed that, the market revenue share for this particular segment is considerably bigger as compared to other end-user segments combined. In the coming years, demand for retail ready packaging concerning food & beverages would be motivated by rising importance of curtailing labor costs through the elimination of product handling requirements.
Paper & Paperboard Likely to Remain the Preferred Material Type
The trendy material option is expected to be paper & paperboard, as most manufacturers are inclined towards its usage in handling ready packaging products. The most attractive aspects for the popularity of paper & paperboard can be accredited to its sustainability and recyclability features. Interestingly, a market revenue share surpassing 50% has been anticipated for paper & paperboard during the stated forecast period.
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Regional Bifurcation Reveals APEJ Collecting Significant Revenue Share
Based on research findings, the most profitable region during the forecast period acquiring major revenue share in the retail ready packaging market is valuated to be Asia-Pacific excluding Japan (APEJ). It is expected that sales of retail ready packaging products across APEJ are projected to seize over one-third market share during the period until 2026-end.
On the other hand, North America and Europe are likely to showcase their strength as chief markets for retail ready packaging. In the coming years, APEJ and North America are estimated to display highest CAGRs in the overall market through 2026.
The competitive viewpoint associated to the retail ready packaging market involves leading players and their efforts to race ahead. Some of the primary manufacturers from the global retail ready packaging market are majorly stressing on improving their product portfolios via huge investments in research & development and acquisition of lighter firms with exclusive innovative technologies. The key companies boosting the expansion of the target market include Orora Packaging Australia Pty Ltd., Creative Corrugated Designs, Inc., Caps Cases Ltd., LINPAC Packaging, i2i Europe Ltd., International Paper Company, DS Smith plc, Smurfit Kappa Group plc., Amcor Limited and Mondi.