IMARC Group, a leading market research company, has recently releases report titled “Retail Ready Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global retail ready packaging market size reached US$ 75.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 111.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.22% during 2024-2032.
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Factors Affecting the Growth of the Retail Ready Packaging Industry:
- Efficiency and Sustainability:
The rising preferences of retailers and manufacturers for packaging solutions that optimize their supply chains and minimize environmental impact represent one of the primary factors propelling the market growth. Additionally, the increasing volume of online orders is driving the need for packaging that is visually appealing and easy to handle and transport. Retail-ready packaging features a shelf-ready design, which reduces the time and effort required to restock shelves in physical stores. This efficiency streamlines in-store operations and ensures a consistent and attractive product presentation to individuals.
- Evolving Consumer Preferences:
The rising preferences of individuals for convenience, information, and an immersive shopping experience are strengthening the growth of the market. Additionally, the escalating demand for product personalization and branding is facilitating the market growth. Retail-ready packaging allows for tailored designs and branding, enhancing the overall shopping experience. It provides an efficient solution to convey product information, storytelling, and even interactive elements through QR codes or augmented reality features. In line with this, the escalating demand for packaging solutions with transparency about the product details is contributing to the market growth.
- Global Expansion and Diversification of Retail Channels:
The global expansion of retail chains and the diversification of retail channels are driving the adoption of retail-ready packaging. In addition, the rising demand for packaging that can accommodate a wide range of product types, sizes, and shelf layouts is influencing the market positively. The modular and customizable nature of retail ready packaging makes it an ideal choice for retailers looking to standardize their packaging solutions across multiple regions and store formats. Moreover, the growth of non-traditional retail channels, such as convenience stores, discount stores, and online marketplaces, is driving the need for packaging that can stand out in various settings.
Key players in the Retail Ready Packaging Industry:
- Caps Cases Ltd
- DS Smith PLC
- Green Bay Packaging Inc.
- Kapco Packaging
- Mondi plc
- Smurfit Kappa Group PLC
- STI - Gustav Stabernack GmbH
- The Cardboard Box Company
- The International Paper Company
- Vanguard Packaging, LLC
- Weedon Group
- WestRock Company
Retail Ready Packaging Market Report Segmentation:
By Product Type:
- Die Cut Display Containers
- Corrugated Cardboard Boxes
- Shrink Wrapped Trays
- Folding Cartons
- Others
Die cut display containers dominate the market by product type due to their versatility and eye-catching design.
By Material:
- Plastic
- Paper and Paperboard
- Others
Plastic holds the largest market share due to its cost-effectiveness, durability, and suitability for preserving product freshness.
By End User:
- Food and Beverage
- Pharmaceuticals
- Electronics
- Personal Care and Cosmetics
- Others
The food and beverage (F&B) industry represents the largest market segment due to its substantial retail industry and the adoption of innovative retail-ready packaging solutions.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the retail ready packaging market is attributed to substantial investment in research and development (R&D), leading to advanced technological developments in this field.
Global Retail Ready Packaging Market Trends:
The increasing emphasis on sustainability and eco-friendly packaging solutions is supporting the growth of the market. In addition, the growing environmental awareness among the masses and the escalating demand for responsible consumption are encouraging retailers and manufacturers to adopt packaging options that minimize their ecological footprint. Retailers are using packaging as a platform to educate people about responsible disposal and recycling practices, fostering a sense of environmental responsibility. Along with this, several retailers and brands are using customized packaging to create a strong brand identity. Unique graphics, logos, and colors help products stand out on the shelf, reinforcing brand recognition and recall.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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