Retail Ready Packaging Market Overview, Challenges, Opportunities, Trends And Analysis By 2023
Retail Ready Packaging Market Overview
The global retail ready packaging market is predicted to touch USD 81700 million at a 4.39% CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report.
Rapidly expanding retail chains, super markets and hyper markets across the globe, especially in the developing economies generate demand for retail ready packaging. Also such large stores prefer RRP since they facilitate better stock management and customer engagement.
Regional Analysis
Based on the region, the retail ready packaging market report covers growth opportunities and the latest trends across North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC). Of these, Europe will spearhead the market over the forecast period. The key end use industries in the region are expanding, which include food & beverage and consumer goods. Moreover, the organized retail sector is exhibiting substantial growth and is focusing on consumer-centric business model which is spurring the growth of the retail ready packaging market. Besides, the increasing use of retail ready packaging in the baking industry has proven to be beneficial for the market.
The established retail brands such as Walmart, The Kroger Company, Costco, and others in North America have adopted retail ready packaging solutions, which is encouraging others in the industry to follow the suit. The presence of a developed retail industry, expanding the food & beverage industry is providing an impetus to the growth of the market.
Key Players
- Smurfit Kappa Group (Dublin)
- The Cardboard Box Company (The UK)
- Mondi Group (Austria)
- Weedon Group (The UK)
- DS Smith PLC (The UK)
- International Paper Company (The US)
- WestRock Company (The US)
- Green Bay Packaging Incorporated (The US)
- Vanguard Companies (The US)
- Georgia-Pacific LLC. (The US)
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the retail ready packaging market based on material type, product type, and end user.
Based on material type, the retail ready packaging market has been segmented into paper & paperboard, plastics, and others. Of these, the paper and paperboard segment will have the largest share in the market and is likely to capture the highest CAGR over the forecast period.
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