Expansion of the Food & Beverage Industry to Assist the Growth of the Global Retail Ready Packaging Market

The trend towards retail ready packaging (RRP) is gaining traction speedily.  A new report published by Market Research Future (MRFR) reveals that the global market for retail ready packaging is on a positive growth trajectory and is anticipated to reach a valuation of USD 69.5 billion by the end of 2021. The retail ready packaging market size was valued at USD 69.5 billion in 2021 and is expected to reach USD 94.2 billion by 2030, at a CAGR of 4.8% over the forecast period 2022 - 2030.

Marketers are progressively integrating RRP design into their marketing mix in order to grab the advantages of easy identification, good merchandising, better product visibility, faster stock replenishment, efficient packing operations, and easy navigation for shoppers. All these advantages results in smaller supply chains and reduction in cost which is stimulating the adoption of RRP and boosting market growth. 

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. 

RRP is available in a broad range of print techniques such as such as flexo post print, preprint and litho. Also, advancements in RRP printing technology has opened up new avenues for the growth of the global retail ready packaging market. 

One of the exclusively advantage that RRP offers is its eco-friendly and recyclability quotient. RRPs utilize eco-friendly packagi9ng materials and are also recyclable which ensures compliance with stringent environmental norms. Besides, raising environmental awareness among consumers as well as manufacturers is a key factor augmenting the growth of the market. Other driving factors include growth of the Food & Beverage industry and increased demand from other end-user industries. 

On the downside, lack of standardization restricts adoption among end user industries which might dampen the growth of the market. Also, RRP might increase the overall cost of the finished product and might also include additional cost to the supply chain in regions where the supply chain management is effective. 

Segmentation

The global retail ready packaging market has been segmented based on material type, product type, and end-user. 

By material type, the global retail ready packaging market has been segmented into paper & paperboard, plastics, and others. The paper and paperboard segment is the leading as well as the fastest growing segment. 

Product type wise, the global retail ready packaging market has been segmented die-cut display containers, shrink wrapped trays, modified cases, plastic containers, and others. The die cut display containers segment is the leading as well as the fastest growing segment. 

By end-user, the global retail ready packaging market has been segmented into food, beverage, household product, and others. The food segment is the largest as well as the fastest growing segment. 

Regional Analysis

North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retail ready packaging. 

Europe is the largest as well as the fastest growing market for retail ready packaging spurred by high awareness regarding environment protection. The presence of a consumer-centric economy where consumers are leading incredibly busy lives has resulted in a strong preference for retail ready packaged products. In addition, the growth of the baking industry also resonates growth in the Europe retail ready packaging market. 

North America is a significant growth pocket for the global retail ready packaging market. Robust economy, developed retail Industry, and expansion of the food & beverage industry can be accredited for the growth of the North America retail ready packaging market. Moreover, the region has a considerable number of retail ready packaging vendors. Furthermore, various giant retailers such as Walmart, The Kroger Company, Costco, and others have laid down retail ready packaging guidelines which is a major drive for the growth of the market in North America. 

Asia Pacific market for retail ready packaging is expected to exhibit fast-track growth rate over the forecast period owing to expansion of the retail consumer base in the region and development of established retail chains in the region who invest heavily in retail ready packaging. The growth of the food & beverage industry is also a significant factor which cannot be excluded. 

Competitive Landscape

WestRock Company (The US), The Cardboard Box Company (The UK), Georgia-Pacific LLC. (The US), Vanguard Companies (The US), Mondi Group (Austria), DS Smith PLC (The UK), Smurfit Kappa Group (Dublin), Green Bay Packaging Incorporated (The US), International Paper Company (The US), Weedon Group (The UK)  are some of the eminent players operating in the global retail ready packaging market.

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