Global $81.4 Billion Retail Ready Packaging Market Growth, Trends and Forecast (2018-2023) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 5, 2019--The “Global Retail Ready Packaging Market - Segmented by Material (Paper and Paperboard and Plastics), Type (Die-cut Display Containers, Shrink Wrapped Trays, and Modified Cases), End-user, and Region - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The Retail-ready Packaging Market was valued at USD 63.4 billion in 2017 and is expected to reach USD 81.4 billion by 2023, with a CAGR of 4.3% during the forecast period (2018-2023).
Rapidly expanding mass retails and club stores and the launch of smaller-format locations are expected to drive the demand for the retail-ready packaging market, as these stores carry a limited product selection than their traditional counterparts. These stores can benefit from RRPs ability to speed stock shelves and increase shelf-space efficiency.
However, issues related to lack of standardization and additional supply chain costs are estimated to challenge the growth of the retail-ready packaging market.
Food Sector to Offer Ample Opportunities
As packaging acts as the last mile connectivity for consumers, organizations can differentiate themselves through packaging solutions that can not only improve the consumer experience with their products but also drive repeat purchases while maintaining positive reputations. Thus, retail-ready packaging creates a platform for companies to provide food with better labeling and packaging designs to increase customer engagement.
According to a PMMI study, almost 28% of consumers reported that they are willing to pay extra for additional conveniences, in terms of packaging. This is expected to further create opportunities for the retail-ready packaging market, in the future.
RRP solutions are also adopted by the food industry to meet the consumer demand for packaged food commodities because of the convenience they offer, in terms of systematic placement of products.
Also, retail ready packaging helps in the easy identification of food products, making it simple to pull orders from distribution centers. It also reduces the likelihood of out-of-stock items and boosts sales up to 3 to 5% by lowering out-of-stock inventory for retailers.
North America is Expected to Occupy the Largest Market Share
North America’s strong financial position enables it to invest in advanced solutions and technologies. These advantages have provided organizations in the region a competitive edge in the retail-ready packaging market.
Moreover, the region has the presence of several major corrugated board packaging vendors, such as International Paper Company (United States), Georgia-Pacific LLC (United States), and WestRock Company (United States). Hence, there is a strong competition among players operating in the retail-ready packaging market in the region.
Moreover, retailers in this region, such as Walmart, Kroger, and others, are increasingly adopting retail-ready packaging solutions. These stores are establishing guidelines to help standardize and transition their shelves as they adopt new package designs.
Walmart, for instance, has published a Retail-Ready Guide in 2016 to set standards for retail display and shelf packaging for their stores going forward. These guidelines help producers understand the requirement of RRPs and the way they have to be leveraged in stores.
2. Research Methodology
3. Executive Summary
4. Retail Ready Packaging Market Insights
4.1 Retail Ready Packaging Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Industry Value Chain Analysis
4.4 Technology Roadmap
5. Retail Ready Packaging Market Dynamics
5.1 Retail Ready Packaging Market Drivers
5.1.1 Increasing Consumer Interest towards Convenient and Eco-friendly Shopping Solutions
5.1.2 Growing Need for Streamlining the Supply Chain Process
5.2 Retail Ready Packaging Market Restraints
5.2.1 Lack of Standardization and Additional Supply Chain Cost is Limiting the Industry Potential
6. Global Retail-ready Packaging Market - Segmentation
6.1 By Material
6.1.1 Paper and Paperboard
6.1.3 Other Materials
6.2 By Type
6.2.1 Die-cut Display Containers
6.2.2 Shrink Wrapped Trays
6.2.3 Modified Cases
6.2.4 Plastic Containers
6.2.5 Other Types
6.3 By End-user
6.3.3 Household Products
6.3.4 Other End-users
6.4 By Region
6.4.1 North America Retail Ready Packaging Market Size (2018-2023)
6.4.2 Europe Retail Ready Packaging Market Size (2018-2023)
6.4.3 Asia-Pacific Retail Ready Packaging Market Size (2018-2023)
6.4.4 Latin America Retail Ready Packaging Market Size (2018-2023)
6.4.5 Middle East & Africa Retail Ready Packaging Market Size (2018-2023)
7. Competitive Intelligence - Company Profiles
7.1 Mondi Group
7.2 Smurfit Kappa Group
7.3 DS Smith PLC
7.4 Weedon Group
7.5 International Paper Company
7.6 LINPAC Group Limited
7.7 Georgia-Pacific LLC
7.8 Creative Corrugated Designs Inc.
7.9 Green Bay Packaging Incorporated
7.10 Caps Cases Limited
7.11 Vanguard Packaging Incorporated
7.12 PaperWorks Industries Incorporated
7.13 WestRock Company
List Not Exhaustive
8. Investment Analysis
9. Future of the Global Retail-ready Packaging Market
For more information about this report visit https://www.researchandmarkets.com/research/srqw2r/global_81_4?w=4
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING
SOURCE: Research and Markets
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PUB: 02/05/2019 03:05 PM/DISC: 02/05/2019 03:05 PM