November 11, 2021 10:00 ET | Source: Fior Markets Fior Markets
Newark, New Jersey, November 11, 2021 (Global News Agency)--According to a report released by Fior Markets, the global retail ready-made packaging market is expected to grow from US$60.8 billion in 2020 to US$96.18 billion in 2028. Continued growth During the forecast period from 2021 to 2028, the compound annual growth rate is 5.9%.
Retail ready packaging, also known as shelf ready packaging, is an auxiliary packaging that helps improve inventory and sales efficiency. These RRP products meet all packaging requirements while also offering other advantages such as light weight, easy handling and fast filling. RRP products are recyclable and provide huge brand promotion opportunities at reasonable prices, making them popular all over the world. Especially large large stores, supermarkets and warehouse clubs, selling a large number of fast-moving consumer goods. These merchants often require products to be shipped from their distribution centers to their stores in the form of unit loads and bulk boxes so that they can restock without having to deal with the merchandise. Corrugated boxes are used to place box products directly on shelves and storage locations without the need for separate handling of unit packaging or primary packaging. Retailers often need to put on shelves packaging to save inventory costs by reducing labor expenditures.
It is expected that the retail packaging market (RRP) will grow with the rapid expansion of mass retail stores and club stores and the opening of small stores, because these stores have a narrower product range than traditional stores. These stores can benefit from RRP's ability to fill shelves quickly and maximize shelf space. RRP can not only reduce packaging waste, but also save operating costs by reducing manpower. RRP is also favored by retailers because it provides customers with a more efficient shopping experience and often encourages impulse purchases. The fragmentation of traditional media channels (such as TV, radio, and movies) and increased awareness of the impact of point-of-sale propositions, coupled with the requirements of RRP by multiple retailers and brand owners, have resulted in retail stores becoming fast moving consumer goods (FMCG) A stronger marketing environment in the market. Therefore, the demand for decorative corrugated boxes is expected to double the growth rate of overall corrugated boxes. However, challenges such as lack of standardization and increased supply chain costs are expected to hinder the expansion of the retail packaging market.
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Georgia-Pacific LLC, Smurfit Kappa Group, Amcor, Weedon PSC Ltd., WestRock Company, Clearwater Paper Corporation, International Paper Company, Packaging Corporation of America, SIG Combibloc GmbH, DS Smith PLC, Refresco Group and Huhtamaki Group are all leading retail Participants in the packaging industry.
The die-cut display box segment dominates the market and will occupy the largest market share in 2020, 26.3%
According to products, the global retail ready-made packaging market is divided into corrugated cartons, die-cut display boxes, folding cartons and shrink packaging pallets. The die-cut display box segment dominates the global ready-made packaging market and will occupy the largest market share in 2020 at 26.3%. The die-cut display is a height-adjustable corrugated box for packaging various items. These die-cut cartons can be put together without glue or staples. Die cutting is a manufacturing technique that uses a variety of customizable cardboard forms and adds folding lines to obtain the desired pattern. Graphics such as product information, corporate logos, and warnings can be added to the die-cut display box to make them unique. Throughout the review period, the demand for die-cut display boxes has continued to grow, mainly from the food and beverage industry, which will increase demand in the retail ready-made packaging market. Due to the growing demand in the food and beverage industry, it is expected that by 2028, the corrugated carton segment will dominate the global retail ready-made packaging market.
The paper and board sector dominates the market and will occupy the largest market share of 60.5% in 2020
Based on materials, the global retail ready-made packaging market is divided into plastic and paper and cardboard. The paper and board sector will have the largest market share in 2020, approximately 60.5%. Cardboard is a common raw material in retail ready-made packaging production. Food and beverage, personal care, medical care, hardware and electronics, home care and other sectors use them as packaging materials. Cardboard can be folded, bent, and customized die-cut in a variety of ways. Graphics can also be added to packaging materials, such as embossing images and bronzing on the surface of the circuit board. Even before reaching the customer, cardboard packaging materials can save costs, increase efficiency, and other benefits throughout the supply chain. They are lightweight and durable, making purchasing and selling a breeze.
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Regional segmentation of the global retail ready-made packaging market
Based on geographic location, the global retail ready-made packaging market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America has the largest market share in 2020, at 25.16%. Due to its strong financial position, North America is able to invest in cutting-edge solutions and technologies. These characteristics help companies in the region gain a competitive advantage in the retail packaging industry. The Asia-Pacific region is the main source of income for the global retail packaging industry. This may be mainly attributed to the growing retail industry in India and China. The expansion of various businesses such as food and beverages, pharmaceuticals, cosmetics and personal care has had a significant impact on the packaging industry in the region. In addition, the growing population in the region has increased the demand for packaged goods and beverages, which has advanced the development of the retail packaging industry.
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Analyze the global retail ready-made packaging market based on value (in billions of dollars). All market segments are analyzed on a global, regional and national basis. The research includes analysis of more than 30 countries in each market segment. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market. The research includes Porter's five forces model, attractiveness analysis, raw material analysis, and competitor's location grid analysis.
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