Retail Ready Packaging Market Analysis/Retail Ready Packaging Market Trends
The global Retail Ready Packaging Market size will touch USD 81700 million at a 4.39% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Retail ready packaging or RRP which is also known as pallet ready packaging, display ready packaging, and shelf ready packaging are secondary packaging of retail products which arrives all set to directly go onto the selling floor or shelf sans the need to unpack inner contents.
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Various factors are fuelling the global retail or shelf ready retail packaging market growth. As per the recent MRFR market estimates, such factors include the increasing inclination of consumers towards convenient shopping, increasing need to streamline the supply chain process, growth in smaller stores, shift towards small-format packages, advances in retail-ready packaging technology, the booming food and beverage industry worldwide, increasing need from developing economies, growing need for processed food especially in developing regions, and the growing awareness of the different benefits of retail ready packaging over traditional retail packaging in terms of labor costs, stock handling, and product visibility.
On the contrary, volatile raw material prices, growing e-commerce sector, and the presence of efficient substitutes may limit the global retail ready packaging boxes market growth over the forecast period. Besides, the temporary shutdown of retail shops and companies owing to the COVID-19 pandemic and fall in demand in the cosmetic industry for the closure of shopping centers and malls may also impact market growth.
Market Segmentation
The global retail ready packaging market has been segmented based on type, material, end-users, and region. On the basis of material, the market for retail ready packaging is segmented based on paper & paperboard, plastics, and others. Additionally, the market on the basis of type, is segmented into die-cut display containers, modified cases, plastic containers, shrink wrapped trays, and others. The global market for retail ready packaging is also covered based on end-users segment which is further split into beverage, food, household product, and others.
Major elements such as concerns regarding the cost of manufacturing could obstruct the retail ready packaging market growth. However, according to the retail ready packaging market research report, efficient packing operations along with reduced human efforts will propel growth throughout the forecast period. The retail ready packaging market is set to register growth at a high CAGR owing to these key factors. The exploration of type, material, end-users, and region segments along with regional markets has been given in the global retail ready packaging market research report. The research analysts studying the retail ready packaging market have put out market forecasts in the retail ready packaging market research report in order to support retail ready packaging market-based companies. The retail ready packaging market research report provides an extensive understanding of the retail ready packaging market based on the information and forecasts till 2023.
Retail Ready Packaging Market – Regional Analysis
North America dominates the global retail ready packaging market. The region's financial position allows it to invest in advanced solutions and technologies required in retail-ready packaging. Besides, the largest market share attributes to the strong presence of key packaging vendors, such as International Paper Company, Georgia-Pacific LLC, and WestRock Company.
Moreover, the intense competition among players operating in the retail-ready packaging market in the region impacts the market growth positively. The spurring rise in the food & beverage industry due to high dependency on packaged food products in the region substantiates the retail ready packaging market size. Also, impressive urbanization fosters market growth, driving the household product industry. The North American shelf ready packaging market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global retail ready packaging market. Market growth is driven by the high demand for retail-ready packaging materials and spurring a rise in the region's food and beverage industry. Additionally, the high awareness of environment protection and the consumer-centric economy push the market growth, resulting in the availability of a range of retail ready packaged products. The Europe shelf ready packaging market is predicted to grow at a considerable CAGR during the assessment period.
The Asia Pacific retail ready packaging market is growing at a rapid pace. Factors such as rapid developments in the healthcare and food & beverage industries influence the regional market's growth. Besides, increased investments in the development of the packaging materials propel market growth. Moreover, the vast consumption of retail ready packaging solutions across the end-user industries positively impacts the market growth. The APAC retail ready corrugated market is expected to expand at a substantial CAGR over the forecast period.
Competitive Landscape
The shift towards small-format packages and better shelf space efficiency are presumed to drive the retail ready packaging market growth worldwide. The global retail ready packaging market could be challenged by volatile raw material prices, nevertheless, organizations in the retail ready packaging market will carry the growth rate forward. The retail ready packaging market research report presents company profiles of major companies active in the retail ready packaging market globally. Furthermore, the global retail ready packaging market report offers an all-inclusive analysis of the market collected from the retail ready packaging market’s primary and secondary sources covering both decision makers and thought leaders. The retail ready packaging market research report highlights such key areas assisting businesses operating in the retail ready packaging market to build better growth strategies.
Key Players
The leading players profiled in the global retail ready packaging market report include WestRock Company (The US), Weedon Group (The UK), Smurfit Kappa Group (Dublin), International Paper Company (The US), The Cardboard Box Company (The UK), Mondi Group (Austria), Vanguard Companies (The US), Green Bay Packaging Incorporated (The US), Georgia-Pacific LLC. (US), and DS Smith PLC (UK), among others.
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Industry/ Innovation/ Related News:
November 17, 2020 ---- EZ Shipper Racks, Inc. (the US), a leading provider of commercial services, announced the rebranding of its parent company to Reusability for the 20th anniversary. The new brand reflects the corporate mission to make the circular supply chain possible for any company wanting to see reusable packaging's financial and sustainability benefits.
Using reusable packaging instead of disposable packaging to ship products helps leaders in industries including HVAC, lawn care, power sports, automotive, windows & doors, and nursery to reduce waste and drive sustainability and cost savings.
In particular for its pilot van supply and machine learning (ML) power reduction of the weight of packaging, Amazon is saving on its sustainability investment. The Climate Pledge that invites signatories to delivery of net zero carbon by 2040 is part of the Amazon commitment. In August 2020, Amazon put the order for 100,000 Rivian electric carriers and, beginning at Los Angeles, the first half of the fleet begins delivering in 15 cities in 2021.
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