The Retail Ready Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Retail Ready Packaging Global Market Report 2024, 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.
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.
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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 Product
2) By Material: Paper and Paperboard, Plastic
3) By Application: Food, Beverage, Cosmetics and Personal Care, Pharmaceuticals
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 retail ready packaging market report table of contents includes:
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. Global Retail Ready Packaging Market Size and Growth
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26. South America Retail Ready Packaging Market
27. Brazil Retail Ready Packaging Market
28. Middle East Retail Ready Packaging Market
29. Africa Retail Ready Packaging Market
30. Retail Ready Packaging Market Competitive Landscape And Company Profiles
Top Major Players:
- WestRock Company
- International Paper Company
- Georgia-Pacific LLC
- Amcor PLC
- Smurfit Kappa Group PLC
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