Global Retail-ready Packaging Market 2019-2023
About this market
Packaging increases brand visibility and eases product identification. Retail-ready packaging, such as corrugated boxes, stores products efficiently, thereby facilitating their transportation. Corrugated boxes play a major role in packaging and supply chain management. They assure the safe transportation and marketing of goods. Corrugated boxes are available in several forms and serve as packaging solutions for various products such as food, beverages, durable and non-durable products. This will drive the retail-ready packaging market. In the retail sector, the high demand for fast food requires lightweight and convenient packaging, which helps the market to grow. Corrugated boxes are expected to contribute significantly to the total revenue of the market. Furthermore, corrugated packaging facilitates easy and quick material handling which helps in the easy replenishment of the products, besides enabling retailers to make optimum utilization of shelf space which adds to the cost reduction for the retailers and manufacturers. Technavio’s analysts have predicted that the retail-ready packaging will register a CAGR of almost 3% by 2023.
Benefits of retail-ready packaging
Retail-ready packaging is used for convenient transition of goods from case to shelves at a single attempt, instead of taking time for emptying single units. Since is also known as shelf-ready packaging, it considers the requirements of shelf replenishment.
Rising prices of wood pulp and paper
The corrugated cardboard industry is under tremendous margin pressure due to rising input costs and the industry's failure to raise prices. Moreover, the increase in prices by paper mills is met by resistance by packaging users. This can compel many manufacturers to shut down their operations. Thus, the shutdown of the corrugated cardboard industry will have a drastic impact on the retail-ready packaging market since it among the important raw materials.
For the detailed list of factors that will drive and challenge the growth of the retail-ready packaging market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Retail-ready Packaging Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the M&A leading to market consolidation.”
According to the report, one of the major drivers for this market is the growth in the organized retail segment.
Further, the report states that one of the major factors hindering the growth of this market is the rise in the number of regulations on the use of plastics hinders the growth of the market.
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