PUBLISHER: The Business Research Company | PRODUCT CODE: 1436649
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436649
Retail-ready packaging refers to self-contained secondary packaging of a product designed for efficient stocking and selling. This type of packaging is shipped to retailers in a way that facilitates easy stocking and displaying, particularly in large retail environments such as big box or club stores. Retail-ready packaging aims to streamline the supply chain and enhance the product's visibility and appeal at the point of purchase.
Retail ready packaging includes die-cut display boxes, corrugated boxes, shrink-wrapped trays, folding cartons, and others. Die-cut display boxes are crafted through the die-cutting process, shaping and sizing a thin flat sheet of materials such as paper, paperboard, and plastic. They find applications in various industries, including food, beverages, cosmetics, personal care, and pharmaceuticals.
The retail ready packaging market research report is one of a series of new reports from The Business Research Company that provides retail ready packaging market statistics, including retail ready packaging industry global market size, regional shares, competitors with a retail ready packaging market share, detailed retail ready packaging market segments, market trends and opportunities, and any further data you may need to thrive in the retail ready packaging industry. This retail ready packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retail ready packaging market size has grown strongly in recent years. It will grow from $82.42 billion in 2023 to $88.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be ascribed to various factors, including increased efficiency in shelf restocking, improved brand visibility, reduction in packaging waste, cost savings in the supply chain, and minimized in-store labor.
The retail ready packaging market size is expected to see strong growth in the next few years. It will grow to $121.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period within the packaging industry is driven by several key factors. There is a continued emphasis on efficiency, reflecting the industry's dedication to streamlining processes and optimizing resource utilization. The growing requirements of e-commerce packaging contribute significantly, with packaging solutions tailored to meet the specific demands of online retail.
The ongoing rapid expansion of the retail sector is a significant driver behind the growth of the retail-ready packaging market. The retail sector comprises businesses that sell goods through various channels, including stores, online platforms, and direct sales to the public in smaller quantities. Retail-ready packaging proves beneficial for the retail sector by reducing labor costs, enhancing the efficiency of the shopping experience for customers, and encouraging impulsive purchases. For instance, as reported by the Retailers Association of India (RAI), the retail industry achieved 93% of pre-COVID sales in February 2021, with consumer durables witnessing a 15% increase. Hence, the expanding retail sector is a key factor propelling the growth of the retail-ready packaging market.
The expanding cosmetics sector is poised to drive further growth in the retail-ready packaging market. The cosmetics sector, encompassing beauty and personal care products, relies on retail-ready packaging to meet the specific needs of both retailers and consumers. This packaging solution optimizes the supply chain, enhances brand visibility, and contributes to a positive shopping experience. As an illustration, the Soil Association, a UK-based registered charity organization, reported in February 2022 that sales of certified organic and natural beauty products experienced a 15% growth, reaching nearly $175 million (£138 million) in 2021. Consequently, the thriving cosmetics sector is playing a pivotal role in propelling the growth of the retail-ready packaging market.
The retail-ready packaging market is experiencing a prominent trend centered around the emergence of new product developments. Companies within this sector are actively working on creating innovative products to fortify their positions in the market. An illustrative example is Amcor PLC, an Australia-based packaging company, which, in April 2022, introduced high-shield laminate packaging. This packaging solution represents a novel, low-carbon, and recyclable option that meets the industry's stringent high barrier and performance standards. The High Shield packaging options, available in both paper-based and polyolefin-based materials, include environmentally friendly pharmaceutical sachet, stick pack, and strip pack packaging. The inventive material structure supports pharmaceutical companies in differentiating themselves in the market by aligning with regional demands for recyclability.
Major players in the retail-ready packaging market are actively channeling their efforts into strategic investments to gain a competitive edge. Strategic investments in this sector serve to enhance product offerings, expand customer bases, and increase market share, positioning companies ahead of the competition. For instance, in January 2023, Solidus Solutions, a Netherlands-based producer of recyclable packaging materials, invested €11 million ($12.02 million) in FUTURLINE, an advanced line of retail-ready packaging solutions. These solutions, which include punnets, skin packaging, and Modified Atmosphere Packaging (MAP), are currently being implemented in several European countries such as Benelux, France, Germany, Poland, the UK, and Spain. As part of its circular-making strategy, SOLIDUS offers environmentally friendly retail and food service goods that minimize environmental impact while providing high-quality, cost-effective solutions to merchants and end-users. This investment underscores the company's commitment to ongoing innovation in the retail-ready packaging space.
In March 2021, Rohrer Corporation, a US-based retail packaging designer and manufacturer, was acquired by Wellspring Capital Management, a private equity firm based in the United States. The acquisition involved an undisclosed financial transaction. This strategic move is anticipated to result in the collaboration of both companies to provide cutting-edge consumer packaging solutions. Additionally, Wellspring Capital Management aims to support Rohrer in its ongoing business expansion efforts, facilitating the delivery of industry-leading packaging solutions to its customers.
Major companies operating in the retail ready packaging market report are WestRock Company, International Paper Company, Georgia-Pacific LLC, Amcor PLC, Smurfit Kappa Group PLC, Mondi PLC, Graphic Packaging International LLC, Packaging Corporation of America, DS Smith PLC, Huhtamaki Oyj, Orora Ltd., Pratt Industries Inc., SIG Combibloc Group Ltd., BillerudKorsnas AB, Clearwater Paper Corporation, Uflex Ltd., Green Bay Packaging Inc., PaperWorks Industries Inc., Delkor Systems Inc., Vanguard Packaging LLC, Caps Cases Ltd., Rondo Ganahl AG, Weedon Group Ltd., The Cardboard Box Company Ltd., Bennett Packaging Of Kansas City Inc., i2i Europe Ltd., Service Technology International Ltd., Bahmuller GmbH, Packaging Innovations Ltd., Detpak Packaging Philippines Inc., Atlas Packaging Ltd., Belmont Packaging Ltd.
North America was the largest region in the retail ready packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail ready packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retail ready packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retail ready packaging market consists of sales of boxes and trays. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retail Ready Packaging Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retail ready packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retail ready packaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail ready packaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.