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Retail Ready Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Paper & Paperboard, Plastic), By Product Type (Corrugated Boxes, Folding Cartons, Trays, Containers), By End-user (Food & Beverages, Personal Care & Cosmetics, Pharmaceutical, Printing & Stationery, Others), and Regional Forecasts, 2022-2029

Region : Global | Format: PDF | Report ID: FBI104915

 

KEY MARKET INSIGHTS

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The global retail ready packaging market size was valued at USD 81.76 billion in 2021. The market is projected to grow from USD 85.45 billion in 2022 to USD 120.39 billion by 2029, exhibiting a CAGR of 5.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with retail ready packaging experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -2.0% in 2020 as compared to 2019.


The most important market driver is recyclability, a vital feature of the market. Retail ready packaging mainly uses paper and cardboard, making recycling easy. The styling and details added to the box increase the product's value and provide excellent brand promotion. Consumers want this when using cosmetic, food & beverage products. They are lightweight, easy to handle with effective replenishment, and make the product easier to use.


Rising demand for packaged processed foods and beverages is expected to drive the market growth. The growth of FMCG, mainly consisting of packaged foods, is expected to drive the development of the global market. Their innovative and effective functional design helps retailers identify products to facilitate efficient storage, improve store efficiency, and save labor by placing products directly on the shelves without unpacking the contents and turnaround time to stock up on final goods that increase the store's sales and profits. Besides these benefits, it enhances the shelf life of fragile and sensitive products. From the consumer's point of view, its product identity facilitates consumers to have a convenient shopping experience, driving the growth of the market.


COVID-19 IMPACT 


Increasing Demand for Online Shopping to Hamper the Market


The pandemic has significantly impacted almost every industry in their production chains; many have postponed work, causing market rates to drop. Likewise, the closure of local retail stores and large convenience stores had an effect during the closure period, and this scenario affected the retail ready packaging market growth. Department stores and virtual stores heavily influence the packaging industry, hampering the development of the market. Due to lockdowns, demand for premium brands and B2B shipping packaging has declined recently. Moreover, COVID-19 has increased the demand for pharmaceuticals, healthcare products, and grocery and e-commerce sectors. This has spurred the demand for a specific type of packaging that helps the public in an emergency.


LATEST TRENDS


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Indispensable Use of Paper & Paperboard Will Complement Market Growth


Paper and cardboard are recyclable and comply with various packaging regulations, making them highly recommended for product packaging. Paper and cardboard are cost-effective alternatives to plastic and have similar properties. Retail ready packaging products have many functions, making them the most popular in the food, beverage, pharmaceutical, electronic, and cosmetic industries. Corrugated boxes have excellent properties such as impact resistance and impact and shock absorption, making them very suitable for packaging food, beverages, cosmetics, and personal care products. Retail ready packaging products also help improve product identification features.


According to the Indian Paper Manufacturers Association (IPMA), the Indian paper industry accounts for about 5% of the world’s paper production. The sector's estimated turnover is USD 700 billion (domestic market size of USD 800 billion), and its contribution to the exchequer is around USD 607.57 million (INR 5,000 crore). The sector provides direct employment to 500,000 persons and indirectly to around 1.5 million. India's per capita paper consumption, at approximately 15 kg, is way behind the global average of 57 kg.


DRIVING FACTORS


Innovation in Printing Increases Brand Image and Propels Demand for Retail Ready Packaging


Innovations in digital printing and finishing systems now offer various options to customize content for specific events, store locations, or customer preferences. The efficiency of retail ready packaging systems is increased by standardized packaging, which requires less time to set up the machine, fewer pressed variants, and ultimately the efficiency of the retail staff. Moving away from models that use bars to hang bags, major retailers are encouraging the use of flexible packaging in ready-to-retail packaging to minimize labor costs. Consumers demand transparency from brands about their environmental activities and the impact of their products and packaging on the climate and the environment.


Increasing Demand from the Retail Sector to Boost the Market Growth


The die-cut display container market growth has been driven mainly by the rampant evolution in the retail sector. The die-cut display container is considered a modern retail packaging solution and is expected to gain popularity as hypermarkets and supermarkets expand. The global market for die-cut display containers is growing rapidly as they reduce costs and provide safety to the product, a factor that drives the market. A growing middle-class income group, a fast-paced lifestyle, and the increasing consumption of packaged food are expected to drive the retail ready packaging market growth, contributing significantly to the growth of the global die-cut display container market.       


RESTRAINING FACTORS


E-commerce Sector to Hamper Market Growth


As e-commerce and online shopping continue to grow, ready-made packaging will have disadvantages as more purchases leave retail stores. Factors limiting the shelf packaging market are online shopping that makes everything accessible to people via smartphone, lack of flexibility in the product or customer-based sales promotion, and the additional inclusion of packaging costs.


SEGMENTATION


By Material Analysis


Paper & Paperboard Packaging Dominates Market Due to High Usage in Retail Sector


Based on material, the market is segmented into paper & paperboard and plastic. The paper & paperboard material type holds a dominant retail ready packaging market share. Due to growing concerns among consumers about waste generation reduction, manufacturing industries are trying to focus on recycling and reusing packaging materials and increasing their cycle life.  


By Product Type Analysis


Demand for Corrugated Boxes Packaging as a Sustainable Solution to Gain Momentum 


Based on product type, the market is segmented into corrugated boxes, folding cartons, trays, and containers. In terms of market share, die-cut display cases and corrugated boxes or cardboard boxes are likely to remain the largest source of revenue in the global market. The demand for these products is influenced by the growth of the retail user base and the growth of value-added box types.


By End-user Analysis


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Growing Consumption of Ready-to-eat Processed Food Across the Globe is Slated to Fuel Market Growth


Based on end-user, the market is segmented into food & beverages, personal care & cosmetics, pharmaceutical, printing & stationery, and others. The retail ready packaging trend has emerged due to cost initiatives by retailers and increasing consumer demand for sustainable packaging products. Industry experts believe this innovation will provide consumers with pain points and make the shopping experience seamless.


REGIONAL ANALYSIS


Europe Retail Ready Packaging Market Size, 2021 (USD Billion)

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The market has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


In North America, advanced solutions and technologies are readily available due to their solid economic position. Regional organizations have gained a competitive edge in retail packaging due to these advantages. There are also several key suppliers of corrugated packaging in the region, such as International Paper Company (U.S.), Georgia-Pacific LLC (U.S.), and WestRock Company (U.S.). As per the research, the U.S. market is also strengthening with the recent announcement of a two-part RTP license agreement between DS Smith and RockTenn.


Additionally, regional retailers, such as Walmart, Kroger and others, are increasingly adopting retail packaging solutions. These stores develop guidelines for standardizing and modifying their shelves when introducing new packaging designs. For example, in August 2022, Walmart released a retail ready guide to set future standards for retail displays and shelf-to-shelf packaging in its stores. These guidelines help manufacturers understand EIA requirements and implement them in stores. Consumer demand led to a steady increase in supermarkets and hypermarkets. In addition, polygraphic technology's development facilitates printing exciting patterns and texts on packages.


According to PLASTICS EUROPE, in 2020, the turnover of the European plastic industry was USD 335 billion, which showed a slight decrease compared to the previous year, mainly due to the impact of the COVID-19 crisis on the majority of customer industries. In 2021, plastic producers planned significant investments in chemical recycling technologies – ramping from USD 3.07 billion (EUR 2.6 billion) in 2025 to USD 8.42 billion (EUR 7.12 billion) in 2030. The Asia Pacific region holds a significant market share. According to the India Brand Equity Foundation (IBEF), India is the world’s fifth largest global destination in the retail space. India’s retail industry is projected to grow by 9% from 2019-2030, from USD 779 billion in 2019 to USD 1,407 billion by 2026 and more than USD 1.8 trillion by 2030.


KEY INDUSTRY PLAYERS


Key Participants in the Market Witnessing Significant Growth Opportunities


The global market overview for retail ready packaging shows that it is highly fragmented and competitive. In terms of market share, a few major players dominate the market by offering innovative packaging in the packaging industry. These major players in the market are constantly focusing on expanding their customer base and supply chain across the regions. Key players in the market include DS Smith plc, Smurfit Kappa Group plc, Mondi, Amcor Limited, International Paper Company, and Georgia-Pacific LLC. Significant companies constitute more than 50% of the market, and many regional and local players dominate the remaining market. Numerous other players operating in the industry are focused on delivering advanced packaging solutions.


List of Key Companies Profiled 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)

  • Belmont Packaging Limited (U.K.)

  • Visy (U.S.)

  • Atlantic Packaging Products Ltd (U.S.)

  • WH Skinner (U.K.)

  • VPK Group (Belgium)

  • Vel-Vin Packaging & Paper Products (India)

  • Napco National (Saudi Arabia)


KEY INDUSTRY DEVELOPMENTS:



  • April 2022 – Sidel launched PressureSAFE, a PET aerosol container for home and personal care products, approved for recycling in traditional PET streams and claims to have a lower carbon footprint than aluminum alternatives.

  • May 2022 - A new line of 100% PET Processor Trays has been launched by Tekklex Consumer Products, which addresses common packaging challenges faced by poultry processors, particularly higher-end products labeled organic, non-GMO, or sustainably sourced. TekniPlex's new trays are made from 100% PET and contain up to 50% post-industrial recycled content. Furthermore, they are 100% recyclable, appealing to consumers' heightened sustainability awareness.

  • May 2022 –Packaging solutions provider Alpla Group, in partnership with Austrian mineral water bottler Vöslauer, has developed a new returnable PET bottle that reduces carbon emissions by about 30%. The fully-recyclable PET mono-material bottle weighs 55 grams and is about 90% lighter than the returnable glass.

  • December 2021 - LanzaTech announced that Migros, Switzerland's largest retailer, is producing the world's first PET bottle made from captured carbon dioxide emissions that would otherwise enter the atmosphere as carbon dioxide. Polyethylene terephthalate, or PET, is a polyester molded into plastic bottles and containers to package food and beverages, personal care products, and many other consumer products.

  • February 2020 - Quinn's Orbital is a food packaging solution made from 100% recycled PET material, eliminating the recyclable plastic in most PET food packaging. Orbital is certified by the European Food Safety Authority as fully suitable for food packaging.


REPORT COVERAGE


An Infographic Representation of Retail Ready Packaging Market

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The market research report presents a comprehensive industry assessment by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views to formulate the market research report. Furthermore, the report covers a detailed analysis of market segments, including material, product type, end-user, and regions, helping our readers get a comprehensive global industry overview.


REPORT SCOPE & SEGMENTATION 



















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



Segmentation



By Material, Product Type, End-user, and Region



 


Segmentation



By Material



  • Paper & Paperboard

  • Plastic



By Product Type



  • Corrugated boxes

  • Folding Cartons

  • Trays

  • Containers



By End-user



  • Food & Beverages

  • Personal Care & Cosmetics

  • Pharmaceutical

  • Printing & Stationery

  • Others



By Region



  • North America (By Material, By Product Type, By End-user, and by Country)

    • U.S. (By End-user)

    • Canada (By End-user)



  • Europe (By Material, By Product Type, By End-user, and by Country)

    • U.K. (By End-user)

    • Germany (By End-user)

    • France (By End-user)

    • Italy (By End-user)

    • Spain (By End-user)

    • Russia (By End-user)

    • Rest of Europe (By End-user)



  • Asia Pacific (By Material, By Product Type, By End-user, and by Country)

    • China (By End-user)

    • India (By End-user)

    • Japan (By End-user)

    • Australia (By End-user)

    • Southeast Asia (By End-user)

    • Rest of Asia Pacific (By End-user)



  • Latin America (By Material, By Product Type, By End-user, and by Country)

    • Brazil (By End-user)

    • Mexico (By End-user)

    • Rest of Latin America (By End-user)



  • Middle East & Africa (By Material, By Product Type, By End-user, and by Country)

    • GCC (By End-user)

    • South Africa (By End-user)

    • Rest of the Middle East & Africa (By End-user)





Frequently Asked Questions

Fortune Business Insights study shows that the global market was worth USD 81.76 billion in 2021.

The market size of Europe stood at USD 30.66 Billion in 2021.

Based on the product type, the corrugated boxes segment holds the dominating share in the global market.

The global market size is expected to reach USD 120.39 billion by 2029.

The key market driver is the increasing usage of die-cut display containers to hold a significant share is expected to drive sales in the market.

The top players in the market are DS Smith plc, Smurfit Kappa Group plc, Mondi, Amcor Limited, International Paper Company, Caps Cases Limited, Orora Packaging Australia Pty Ltd, Georgia-Pacific LLC, and WestRock Company.

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