Press release
Retail Ready Packaging Market Size, Analysis, Trends Report 2024 To 2033
Retail Ready Packaging Market
Market Size And Growth Forecast:
The retail ready packaging market size has grown strongly in recent years. It will grow from $82.42 billion in 2023 to $88.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to efficiency in shelf restocking, enhanced brand visibility, reduction in packaging waste, cost savings in supply chain, minimization of in-store labor.
The retail ready packaging market size is expected to see strong growth in the next few years. It will grow to $121.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to continued focus on efficiency, e-commerce packaging requirements, customization for brand differentiation, environmental considerations, integration with automation. Major trends in the forecast period include focus on reduced packaging waste, integration of smart packaging technologies, e-commerce-friendly packaging solutions, popularity of stand-up pouches and flexible packaging, innovations in shelf-ready packaging designs.
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Market Segmentation:
The retail ready packaging market covered in this report is segmented -
1) By Product: Die Cut Display Boxes, Corrugated Boxes, Shrink Wrapped Trays, Folding Cartons, Other Products
2) By Material: Paper and Paperboard, Plastic
3) By Application: Food, Beverage, Cosmetics and Personal Care, Pharmaceuticals
Major Driver - Retail Sector Expansion Fuels Surge In Retail-Ready Packaging Market
The rapid expansion of the retail sector is contributing to the growth of the retail-ready packaging market going forward. The retail sector refers to businesses that sell goods through stores, on the internet, or to the public in small quantities. Retail-ready packaging is helpful for the retail sector by reducing labor expenditures, providing customers with a more efficient shopping experience, and encouraging impulsive purchases. For instance, according to the retailer's association of India (RAI), the retail industry achieved 93% of pre-COVID sales in February 2021, and the sale of consumer durables has increased by 15%. Therefore, the rapid expansion of the retail sector is driving the growth of the retail-ready packaging market.
Competitive Landscape:
Major companies operating in the retail ready packaging market report are WestRock Company, International Paper Company, Georgia-Pacific LLC, Amcor plc, Smurfit Kappa Group plc, Mondi plc, Graphic Packaging International LLC, Packaging Corporation of America, DS Smith plc, Huhtamaki Oyj, Orora Ltd., Pratt Industries Inc., SIG Combibloc Group Ltd., BillerudKorsnas AB, Clearwater Paper Corporation, Uflex Ltd., Green Bay Packaging Inc., PaperWorks Industries Inc., Delkor Systems Inc., Vanguard Packaging LLC, Caps Cases Ltd., Rondo Ganahl AG, Weedon Group Ltd., The Cardboard Box Company Ltd., Bennett Packaging Of Kansas City Inc., i2i Europe Ltd., Service Technology International Ltd., Bahmuller GmbH, Packaging Innovations Ltd., Detpak Packaging Philippines Inc., Atlas Packaging Ltd., Belmont Packaging Ltd.
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Top Trend - Strategic Investments Drive Innovation And Market Leadership In Retail-Ready Packaging Sector
Major companies operating in the retail-ready packaging market are integrating their efforts into strategic investments to gain a competitive edge in the market. Strategic investments in the retail-ready packaging sector can help companies stay ahead of the competition by improving their product offerings, expanding their customer base, and increasing their market share. For instance, in January 2023, Solidus Solutions, a Netherlands-based producer of a range of recyclable packaging materials, invested €11 million ($12.02 million) in FUTURLINE, a line of cutting-edge retail-ready packaging solutions. These solutions include punnets, skin packaging, and MAP (Modified Atmosphere Packaging), which are currently being implemented in Benelux, France, Germany, Poland, the UK, and Spain. As part of its circular-making strategy, SOLIDUS offers a range of retail and food service goods that minimize environmental impact while providing merchants and end users with high-quality, affordable solutions. This investment shows the company's dedication to ongoing innovation.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Retail Ready Packaging Market Characteristics
3. Retail Ready Packaging Market Trends And Strategies
4. Retail Ready Packaging Market - Macro Economic Scenario
5. Retail Ready Packaging Market Size And Growth
…..
27. Retail Ready Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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