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
Retail ready packaging is expected to exceed USD 51 billion by 2026. Booming retail sector in the developing regions shall fuel the market growth.
Some major findings of the retail ready packaging market report include:
Developments in the Asia Pacific retail sector is one of the pivotal factor driving the market growth
Paper & paperboard will have the largest market share due to their growing demand in production of various retail ready packaging products
Corrugated boxes industry will generate revenue owing to their increasing usage mainly for the packaging of food and beverages.
Companies in the value chain are engaged in capacity expansions and mergers to gain competitive advantage over their competitors.
Retail ready packaging or shelf ready packaging is a broader concept of packaging that allows easy identification of products and facilitates “one touch replenishment “ principles. RRP mostly uses recyclable or reusable raw materials and hence are a preferred choice among various FMCG manufacturers. These products are available with vast range of printing techniques and in a wide range of one piece and two piece pack style products. The growing retail sector across the globe along with the strive for reduction in labor cost amongst the retailers is projected to boost industry growth.
The retail ready packaging market has medium level of backward integration with some of the major player engaging in the production of raw materials. For instance, proficient players such as International Paper company is one of the largest players globally that engages in the production of both retail ready packaging and raw materials such as pulp & paper. The company is one of the largest renewable manufacturers across the globe. Some of the companies in the RRP market are also seen to actively engage in research and development for production of innovative products. Companies such as Georgia-Pacific Packaging owns state of art innovative institute that stimulates real world retail packaging environments to test new concepts. The company has developed a new type retail ready packaging known as “ brand ready packaging” that creates high graphics packaging solutions that helps the brand owners to easily adopt secondary packaging solutions that facilitates an on-shelf brand impact.
Some proficient players are also seen to adopt capacity expansion strategies to attain a larger share in the market . For instance, Amcor, invested over USD 25 million to upgrade its facilities in Madison to improve quality, expand capacity, and reduce waste with an updated technology. Furthermore, this expansion is also expected to result in 50% increase in employment in the plant. These growing trend of strategical transformations in the market by the key players is projected to bring about more competition in the market in turn positively effecting the RRP demand in the coming years.
Asia Pacific was the largest retail ready packaging market in terms of both volume and revenue in 2018 and is projected to exhibit the same trend throughout the review. The growing retail sector in the region coupled with the increasing demand for processed food and beverages shall generate substantial revenue generating opportunities in this region throughout the assessment period. Moreover, the increasing retail sales especially in China and India shall further aid to the market demand. According to National Investment Promotion & Facilitation Agency India, the India retail market shall cross USD 1.7 trillion in the coming years from USD 795 billion in 2017.
Major players in the RRP market include International Paper Company, Georgia-Pacific LLC, WestRock Company, Amcor, Smurfit Kappa Group, Weedon PSC Ltd, Linpac, Clearwater Paper Corporation, Packaging Corporation of America, BillerudKorsnäs AB, sig combibloc gmbh, D S Smith, Refresco Group and Huhtamaki Group among others.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook