-- Global Retail Ready Packaging Market 2018-2023:
The Global Retail-ready Packaging Market was valued at USD 63.4 billion in 2017 and is expected to reach USD 81.4 by 2023, with a CAGR of 4.3% during the forecast period (2018 - 2023). The report is segmented by Material (Paper & Paperboard, Plastics), Type (Die-cut Display Containers, Shrink Wrapped Trays, and Modified Cases), End User, and Region.
Global Retail-ready packaging (RRP) Market refers to the secondary packaging of retail products to go directly onto the shelf, without the need to unpack inner contents. 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.
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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 Global Retail Ready Packaging 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.
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Key Developments in the Global Retail Ready Packaging Market
Jul 2018: Smurfit Kappa collaborated with Scania to replace materials used in its supply chain with paper-based packaging solutions. The paper-based solution combines corrugated and honeycomb production capabilities, which are robust and enable the company to deliver an innovative and reliable service to their valued partner, Scania.
Jan 2018: WestRock Company acquired all of the assets of Plymouth Packaging Inc. to expand in the on-demand corrugated packaging market that serves many E-commerce and other custom-packaging applications.
Major Companies Mentioned:
Mondi Group, Smurfit Kappa Group, DS Smith PLC, Weedon Group, International Paper Company, LINPAC Group Limited, Georgia-Pacific LLC, Creative Corrugated Designs, Inc., Green Bay Packaging Incorporated, Caps Cases Limited, Vanguard Packaging Incorporated, PaperWorks Industries Incorporated, WestRock Company
Reasons to Purchase Global Retail Ready Packaging Market Report
Impact of the increasing usage of retail-ready packaging products on the market studied
Analysis of various perspectives of the market with the help of Porter’s Five Forces Analysis
The segments that are expected to dominate the market
Regional analysis of the market, during the forecast period
Latest developments, market shares, and strategies employed by major market players and key innovators
3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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Fundamentals of Table of Content:
1. Introduction
1.1 Key Study Deliverables
1.2 Global Retail Ready Packaging Market Definition
2. Research Methodology
3. Executive Summary
4. Global Retail Ready Packaging Market Insights
4.1 Global Retail Ready Packaging Market Overview
5. Global Retail Ready Packaging Market Dynamics
5.1 Global Retail Ready Packaging Market Drivers
6. Global Retail-ready Packaging Market - Segmentation
7. Competitive Intelligence - Company Profiles
8. Investment Analysis
9. Future of the Global Retail-ready Packaging Market
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