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Overview
The global shelf ready retail 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. Retail ready packaging solutions are being increasingly adopted by participants across the supply chain to provide a convenient shopping experience to consumers. Retail ready packaging solution is a packaging format which adheres to the five easies principle, i.e., easy to identify, easy to open, easy to stock, easy to shop, and easy to dispose of.
Packaging solutions have evolved to become shelf ready to facilitate speedy delivery of products to the market. shelf ready retail packaging solutions use corrugated cardboards, die-cut containers, and shrink-wrapped trays, which helps in making products shelf-ready in less time. Shelf ready products are easy to identify and navigate. Additionally, they ensure maximum utilization of space, efficient packaging operations. Shelf Retail ready packaged products can easily be put on shelves with minimum human effort. Such advantages aligned with retail ready packaging has led to increased adoption among end users. Besides, adoption of retail ready packaging solutions helps to considerably reduce supply chain costs and streamline operations.
Leading retailers across the globe are encouraging suppliers to use retail ready packaging solutions, which is also signaling growth in the market. The retail industry is gradually shifting towards small-format packages, which too has influenced the market growth. Other factors which contribute to the market expansion include a rise in the number of smaller stores and specialty stores. These types of stores generally store limited products in individual sized portions and retail ready packaging format is ideally suited for these stores.
On the contrary, the high cost of retail ready packaging solutions and the fluctuating price of raw materials are factors that may hamper the shelf ready retail packaging market growth over the forecast period.
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.
Based on product type, the retail ready packaging market has been segmented die-cut display containers, shrink wrapped trays, modified cases, plastic containers, and others. Of these, the die cut display containers segment will dominate the market over the forecast period.
Based on end user, the shelf ready retail packaging market has been segmented into food, beverage, household product, and others. Of these, the food segment will lead the market over the forecast period.
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. Additionally, various retail ready packaging guidelines have been laid down in the region which has induced demand within the market.
The APAC shelf ready retail packaging market is likely to expand at a torrid pace on account of expanding consumer base in the region. Moreover, the development of established retail chains in the region has led to increased demand for retail ready packaging solutions. The expanding food & beverage industry is also contributing significantly to the market growth.
Key Players
Leading players profiled in the shelf ready retail packaging market report include 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), and Georgia-Pacific LLC. (The US).
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