Retail Ready Packaging Market: Attractive for Displaying Brands as Value-added Specialty || Key Players: Amcor Limited, Mondi, DS Smith plc, and Smurfit Kappa Group plc.
The retail ready packaging market will reflect an average 4.6% CAGR, in terms of volume, during the forecast period (2017-2026), as slated by a recent Fact.MR report. The report estimates the market to surpass US$ 100,000 in revenues by 2026-end.
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Retail ready packaging (RRP) is gaining paramount importance as a means of secondary packaging for retailers. This is mainly because RRP enables placing products directly onto the retail shelves or selling floor post-arrival, and deprives unpacking requirements of inner contents. Numerous benefits are offered by retail ready packaging compared to traditional retail packaging apropos to the product visibility, labor costs, and stock handling. This type of packaging, which persists on store shelves and aids marketing efforts, has been attractive for displaying brands as value-added specialty, and appealing to brand owners and retailers who use it as the shipping container.
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The most lucrative region for growth of the retail ready packaging market is anticipated to be Asia-Pacific excluding Japan (APEJ) during 2017 to 2026. Sales of retail ready packaging products in APEJ are likely to latch onto over one-third market share through the forecast period.
North America and Europe are also expected to persist as major markets for retail ready packaging. In addition, APEJ and North America are likely to exhibit the highest CAGRs in the market through 2026.
Based on material type, the largest share of the market is projected to be accounted by paper & paperboard. Additionally, paper & paperboard, polyethylene terephthalate (PET, PETE, PETG or polyester), and high density polyethylene (HDPE) are poised to reflect a parallel sales expansion at a steady CAGR through 2026.
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In a bid to gain an edge over their competitors, leading players in the global retail ready packaging market are focusing on enhancing their product portfolios through huge investments in research & development activities and acquisition of smaller firms with innovative technologies but lacking in resources. Key companies actively supporting expansion of the market include Creative Corrugated Designs, Inc., Orora Packaging Australia Pty Ltd., Caps Cases Ltd., i2i Europe Ltd., LINPAC Packaging, International Paper Company, Amcor Limited, Mondi, DS Smith plc, and Smurfit Kappa Group plc.
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