What will boost Retail Ready Packaging Market in coming years? Key players: Amcor, Smurfit Kappa Group, D S Smith, WestRock Company, International Paper Company
During the period of 2019-2026, the Retail Ready Packaging Market is anticipated to expand with a CAGR of 4%. In their quest to reduce costs and carbon footprint, product marketers are trying to make products more appealing on the shelf with packaging, which is ready for retail.
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The food & beverages industry is the biggest end-user division of retail ready packaging. According to Food Marketing Institute and the Grocery Manufacturers Association, shipping damage for the food, beverage and consumer products industries accounts for around half of gross sales. In U.S. alone the damage losses equal to $1 billion every year.
The products in RRP arriving at warehouses or retail facilities fulfill the demands of a retail environment. No customer is pleased by a product offered with a jagged front display. This is prompting manufacturers in the food & beverage industry to opt for sturdy packaging solutions to reduce shipping damage costs and render attractive product exteriors.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o International Paper Company
o Georgia-Pacific LLC
o WestRock Company
o Smurfit Kappa Group
o Weedon PSC Ltd
o Clearwater Paper Corporation
o Packaging Corporation of America
o sig combibloc gmbh
o D S Smith
o Refresco Group and Huhtamaki Group
Moreover, they are heavily investing on product branding for efficient easy shelf maintenance, point-of-sale, and pallet utilization. Along with focusing on safe transportation, manufacturers in the RRP industry are complying with the hygienic production conditions and sustainability aspect; producing packaging for food and drinks under the strictest hygiene conditions.
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A Retail Ready Packaging (RRP) or Shelf Ready Packaging (SRP) makes it much easier for retailers to sell products. It is a kind of secondary packaging that aids in stocking and restocking retail shelves quickly. Packaged in the form of display trays and cases, retail ready packaged products can be directly placed on a shelf. This not only cuts down handling time but also makes products easier for customers to identify.
Growth Drivers are
o Robust growth in the retail industry
o Growth demand for food and beverage
While packaging companies are increasingly designing solutions to reduce material usage and standardize retail displays, retail chain giants, such as Walmart have been using these techniques to enhance their branding strategies.
Predominantly made of corrugated cardboard, there are many different types of retail ready packaging options available, including foldable cartons, case stackers, counter displays, and pallet displays. For suppliers and retailers alike, using this product is providing a crucial opportunity to improve supply chain efficiencies along with generating sales at the point-of-purchase.
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