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The global retail ready packaging market size was valued at USD 85.11 billion in 2022 and is projected to grow from USD 88.74 billion in 2023 to USD 125.19 billion by 2030, exhibiting a CAGR of 5.04% during the forecast period.
Retail-ready packaging mainly uses paper and cardboard, making recycling easy; the most important driver of this market is recyclability. The styling and details added to the box increase the product's value and provide excellent brand promotion. Consumers want this type of packaging when using cosmetic and 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 the FMCG sector, which mainly consists of packaged foods, is expected to drive the growth of the retail ready packaging industry. 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 increasing turnaround time to stock up on final goods that increase the store's sales, boost shelf space, and enhance profits. Besides these benefits, retail ready packaging products enhance the shelf life of fragile and sensitive products. From the consumer's point of view, such packaging offers products their identity, which helps consumers have a convenient shopping experience, thereby driving the growth of the market for retail ready packaging.
Increasing Demand for Online Shopping Hampered the Retail Ready Packaging Market Growth
The pandemic significantly impacted almost every industry in their production chains; many postponed their manufacturing activities, causing the market growth rate to drop. Likewise, the closure of local retail stores and large convenience stores affected the growth of the retail-ready packaging market. Virtual and online stores drive the growth of the packaging industry, which, in turn, hinders the development of the retail-ready packaging market. Due to lockdowns, the demand for premium brands and B2B shipping packaging declined considerably. Moreover, the outbreak increased the demand for pharmaceutical, healthcare, grocery, and e-commerce products. This factor spurred the demand for a specific type of packaging that helped the public during an emergency.
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Growing Use of Paper & Paperboard will Complement Market Growth
Paper and cardboard are recyclable and comply with various packaging regulations, making them a highly recommended material for product packaging. These materials are cost-effective alternatives to plastic and have similar properties. Retail-ready packaging products have many functions, making them the most popular in food, beverage, pharmaceutical, electronic, and cosmetic industries. Corrugated boxes have excellent properties, such as impact resistance and impact & shock absorption, making them suitable for packaging food, beverages, cosmetics, and personal care products. Retail-ready packaging solutions 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 636.15 million. 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.
Innovation in Printing to Increase Brand Image will Propel Demand for Retail Ready Packaging
Innovations in finishing systems and digital printing now offer various options to customize content for specific events, customer preferences, and store locations. 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 for hanging bags, major retailers encourage using flexible packaging for minimizing labor costs. Consumers seek transparency from brands about their environmental activities and the impact of their products and packaging on the environment. These factors will fuel the adoption of retail ready packaging items.
Increasing Product Demand from the Retail Sector to Boost Market Growth
Die-cut display containers are being extensively used due to the rampant evolution in the retail sector. These containers are considered a modern retail packaging solution and expected to gain popularity as hypermarkets and supermarkets expand their operations. The demand for die-cut display containers is growing rapidly as they reduce costs and provide safety to the product. A growing middle-class income group, fast-paced lifestyle, and increasing consumption of packaged foods are expected to drive the market growth, contributing significantly to the adoption of die-cut display containers.
Expansion of E-commerce Sector to Hinder Market Growth
The e-commerce sector has shown continuous growth, so the demand for ready-made packaging has decreased as more customers are leaving retail stores and opting for online shopping. Factors limiting the market growth are online shopping that makes everything accessible to people via their smartphones, lack of flexibility in product or customer-based sales promotion, and additional inclusion of packaging costs.
Paper & Paperboard Packaging to Dominate Market due to High Usage in Retail Sector
Based on material, the market is segmented into paper & paperboard and plastic. The paper & paperboard segment holds a dominant retail ready packaging market share. Due to growing consumer concerns about waste generation, manufacturing industries are focusing on recycling and reusing packaging materials and increasing their shelf life.
Demand for Corrugated Boxes as Sustainable Packaging Solution to Gain Momentum
Based on product type, the market is segmented into corrugated boxes, folding cartons, trays, and containers. Die-cut display cases and corrugated boxes or cardboard boxes are likely to remain the largest source of revenue for the global retail-ready packaging market. The demand for these products is influenced by the growing base of retail customers and demand for sustainable packaging solutions.
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Growing Consumption of Ready-to-Eat Processed Food to Fuel Product Use in Food & Beverage Sector
Based on end user, the market is segmented into food & beverage, personal care & cosmetics, pharmaceutical, printing & stationary, and others. The food & beverage segment is set to dominate the market due to the rising consumption of ready-to-eat & processed foods by consumers worldwide. Moreover, cost initiatives by retailers and increasing consumer demand for sustainable packaging products also contribute to the segment’s growth.
Europe Retail Ready Packaging Market Size, 2022 (USD Billion)
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The retail ready packaging market analysis has been done 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 the region’s solid economic position. This benefit has helped organizations across the region gain a competitive edge in retail packaging. There are also several key suppliers of corrugated packaging in the region, such as International Paper Company, Georgia-Pacific LLC, and WestRock Company. As per research, the U.S. market is also strengthening its pace with the recent announcement of collaboration between LVHM and DOW. Both the companies collaborated to improve sustainable packaging in major perfume and cosmetics brands.
Additionally, regional retailers, such as Walmart, Kroger, and others, are increasingly adopting retail packaging solutions. These stores are developing 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 will help manufacturers understand the EIA requirements and implement them in stores. A steady rise in supermarkets and hypermarkets also contributed to the regional growth. In addition, the development of polygraph technology has facilitated the printing of exciting patterns and texts on packages.
In 2020, according to Plastics Europe, the turnover of the European plastic sector accounted for USD 335 billion, which highlighted a slight decrease than the previous year, primarily due to the COVID-19 impact on the majority of customer industries. However, in 2021, plastic manufacturers planned crucial investments in the technologies for chemical recycling. The Asia Pacific region holds a significant share in the retail-ready packaging industry. According to the India Brand Equity Foundation (IBEF), India is the world’s fifth largest destination in the retail space. India’s retail industry is expected to increase by 9% between 2019 and 2030, growing from USD 779 billion in 2019 to USD 1,407 billion by 2026 and over USD 1.8 trillion by 2030.
Key Participants in the Market are Witnessing Significant Growth Opportunities
The report for retail ready packaging depicts that the market is highly fragmented and competitive. Some of the key players dominate the market in terms of market share by providing innovative packaging. They are also constantly focusing on product innovation and expansion of customer base & supply chains across several regions.
Key players in the market include DS Smith plc, Smurfit Kappa Group plc, Mondi, Amcor Limited, International Paper Company, and Georgia Pacific LLC. Several other local and small manufacturers operating have increased their focused on offering advanced retail ready packaging solutions.
An Infographic Representation of Retail Ready Packaging Market
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The research report presents a comprehensive industry assessment by offering valuable insights, facts, market size, industry-related information, and historical data. Several methodologies and approaches have been adopted to make meaningful assumptions and views to formulate this report. Furthermore, the report makes a detailed analysis of the market segments, including material, product type, end-user, and regions, helping readers get a comprehensive overview of the global industry.
CAGR of 5.04% from 2023 to 2030
Value (USD Billion)
By Material, By Product Type, By End User, and By Region
By Product Type
By End User
The Fortune Business Insights study shows that the global market size was valued at USD 85.11 billion in 2022.
The global market is projected to register a CAGR of 5.04% during the forecast period.
The market size of Europe stood at USD 31.85 billion in 2022.
Based on product type, the corrugated boxes segment holds a dominating share in the global market.
The global market size is expected to reach USD 125.19 billion by 2030.
The key market drivers are innovation in printing to boost brand image and increasing demand for retail ready packaging products from the retail sector.
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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