January 17, 2020
According to the research report titled ‘Retail Ready Packaging Market Size By Product (Die cast display box, Corrugated paper box, Shrink wrapped trays, Folding Cartons), By Material (Paper & Paperboard, Plastic [PETE, PE]), By Industry (Food [ dairy products, fruits & vegetables, meat & poultry], Beverages, Cosmetic & Personal Care, Pharmaceuticals) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, U.K, France, Italy, Spain, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global retail ready packaging market is expected to cross USD 51 billion by the year 2026.
Rapid expansion of retail sector in emerging nations is the major factor driving the retail ready packaging (RRP) market growth. Retail ready packaging primarily uses reusable or recyclable raw materials and hence are extensively preferred by FMCG (fast-moving consumer goods) manufacturers. Growing inclination towards reducing labor cost among retailers is also aiding the expansion of the market.
In terms of material type, paper & paperboard segment is expected to register substantial growth during the estimated timeframe. Growing demand of the material for production of several RRP products is stimulating the industry outlook.
As per the product type, corrugated boxes segment is presumed to expand significantly during the forecast period. Rising adoption of the product for packaging of food & beverages is facilitating the business scenario.
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Considering the geographical landscape, the report states that Asia-Pacific held the largest volume & revenue share of retail ready packaging market in 2018 and is expected to register continuous growth in the forthcoming years. Growing demand for processed food & beverages, in tandem with emerging retail sector are contributing towards the popularity of retail ready packaging solutions across the region. Moreover, mounting retail sales, especially in India and China, will fuel the growth of Asia-Pacific market.
Huhtamaki Group, Refresco Group, DS Smith, SIG Combibloc GmbH, BillerudKorsnäs AB, Packaging Corporation of America, Clearwater Paper Corporation, Linpac, Weedon PSC Ltd., Smurfit Kappa Group, Amcor, WestRock Co., Georgia-Pacific LLC, and International Paper Company are the prominent companies operating in the retail ready packaging market.
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