Retail Ready Packaging Market Size to Record 5.04% CAGR over 2023-2030; Growing Product Use in Retail Sector to Augment Market Expansion

The global retail ready packaging market size touched USD 85.11 billion in 2022 and is predicted to reach USD 88.74 billion in 2023. The market is anticipated to touch USD 125.19 billion by 2030, recording a CAGR of 5.04% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Retail Ready Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Paper & Paperboard and Plastic), By Product Type (Corrugated Boxes, Folding Cartons, Trays, and Containers), By End User (Food & Beverages, Personal Care & Cosmetics, Pharmaceutical, Printing & Stationary, and Others), and Regional Forecasts, 2023-2030”.

Retail ready packaging, as the name suggests, refers to a process wherein the goods are packed in attractive packaging material that are ready to be sold at retail stores. Using this type of packaging can help retailers reduce their time and effort to a great extent and focus on other important activities. Since recyclable packaging has gained significant traction due to its ability to cause less harm to the environment, customers are actively buying products with this packaging. These factors are anticipated to fuel the retail ready packaging market growth.

Growing Online Shopping Demand Due to COVID-19-Imposed Restrictions which Strained Market Progress

The pandemic had a substantial influence on almost every sector as there were several supply chain disruptions that caused unnecessary delays in production and delivery. Moreover, retail outlets and convenience stores across many regions were forced to shut down their operations, which indirectly decreased the demand for packaging products. The development of this industry was hampered as more people opted for online shopping over physical stores. Lockdowns also slowed the demand for premium brands and B2B shipping packaging, further hindering the market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/retail-ready-packaging-market-104915

Growing Product Use in Retail Sector to Augment Market Expansion

The sales of die-cut display containers is picking notable pace every year as the global retail sector is undergoing a major evolution. These containers are often viewed as a modern retail packaging solution and predicted to gain traction among supermarkets and hypermarkets as they are planning to expand their operations. Die-cut containers are being widely used in the retail sector as they decrease costs and boost the safety of products. Other factors, such as hectic lifestyle, growing income of middle-class population, and rising consumption of processed packaged foods, will drive the market growth and also boost the use of die-cut containers.

Competitive Landscape

Focus on Introducing Advanced Packaging Solutions to Help Key Players Maintain their Lead Position

The market is highly competitive and fragmented, with a few key market players dominating the market. These companies are focusing on offering advanced packaging solutions for the packaging sector. They are also increasing their efforts to expand their customer base and boost their supply chain networks. Some of the leading firms operating in this market include Smurfit Kappa Group plc, DS Smith plc, Amcor Limited, Mondi, Georgia Pacific LLC, and International Paper Company.

Notable Industry Development

• January 2023 – Solidus Solutions invested in FUTURLINE, a range of innovative retail ready packaging solutions, including skin packaging, Modified Atmosphere Packaging (MAP), and punnets, which are already being rolled out across Benelux, France, Germany, Poland, the U.K., and Spain.

List of Key Players Covered in the Report

• DS Smith plc (U.K.)
• Smurfit Kappa Group plc (Ireland)
• Mondi (U.K.)
• International Paper Company (U.S.)
• Caps Cases Limited (U.K.)
• Orora Packaging Australia Pty Ltd (Australia)
• WestRock Company (U.S.)
• Kapco Packaging (India)
• Amcor Limited (Australia)
• Georgia Pacific LLC (U.S.)
• Clearwater Paper Corporation (U.S.)
• Packaging Corporation of America (U.S.)
• Weedon Group Ltd (U.K.)
• STI Group (Germany)
• Ashtonne Packaging (India)

Further Report Findings

• North America is expected to hold the largest retail ready packaging market share in the coming years as the region has a vast presence of major suppliers of corrugated packaging solutions. These include Georgia Pacific LLC, International Paper Company, and WestRock Company.
• Asia Pacific has captured a major share of the global market as the region’s retail and packaging sectors are expanding at a strong rate due to the rising sales of FMCG and processed food items. India, considered one of the biggest global destinations in retail space, further accelerating the regional market growth.
• The corrugated boxes segment is expected to dominate the market as the demand for eco-friendly packaging products is rising. These boxes are mostly made from paper or cardboard, making them a viable product to package foods and beverages.

Table of Segmentation