The Retail Ready Packaging Market size was valued at $65.1 billion in 2021, and is estimated to reach $107.8 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Top Leading Players
DS Smith, Georgia-Pacific LLC, Green Bay Packaging Inc., International Paper, Mondi, Smurfit Kappa, the Cardboard Box Company, Vanguard Packaging, LLC, Weedon Group Ltd. and WestRock Company.
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Recyclability, which is its most essential feature, is the most important market driver. This is attributed to the fact that as retail ready packages are mayorly made up of paper and paperboard, they are simple to recycle. The designs and elements added to the box provide value to the product while also promoting the brand. In addition, they are lightweight and easy to handle, with quick refilling, and they make the product more user-friendly.
Rise in demand for packaged processed foods and drinks is likely to drive the expansion of the retail ready packaging market. Moreover, the demand for retail ready packaging is driven by development of the fast moving consumer goods (FMCG) industry. FMCG products have increased the demand for retail ready packaging through creative and effective functional designs. This is an effort for retailers to identify products, promote effective warehousing, improve store efficiency, eliminate internal unpacking content & replenishment time, and place products directly on retail shelves, thus ultimately increasing a store’s sales and profits.
Furthermore, retail ready packaging helps to improve the shelf life of fragile and delicate products. From the consumer’s point of view, the nature of its product identification promotes a convenient shopping experience for consumers, which drives the demand for ready-to-sell packages in the retail ready packaging industry.
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The global retail ready packaging market is segmented into product type, material, and application, and region. Depending on product type, the market is categorized into die cut display containers, corrugated cardboard boxes, shrink wrapped trays, folding cartons, and others. On the basis of material, it is fragmented into paper & paperboard, plastics, and others. By application, it is differentiated into food & beverages, pharmaceutical, personal care & cosmetics, electronics, and others.
Region wise, the global retail ready packaging market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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