According to a recent Fact.MR analysis, the global retail ready packaging market will grow at a CAGR of 4.6 percent in terms of volume over the forecast period (2017-2026). By the end of 2026, the market is expected to generate more than $100,000 in sales, according to the analysis.
RRP demand will be bolstered by the expansion of club stores and mass merchants, as well as rising food and beverage sales in atypical channels like as medicine and discount stores. The emergence of deep discount grocery stores and club stores has dominated the global retail ready packaging market as the primary driver of growth. These retailers offer things directly from secondary packaging, requiring vendors to provide products in a variety of retail-ready packaging alternatives.
Retail Ready Packaging Market: 6 Key Takeaways
- From 2017 to 2026, Asia-Pacific except Japan (APEJ) is expected to be the most profitable area for the retail ready packaging industry. During the projected period, sales of retail ready packaging products in APEJ are expected to take over one-third of the market.
- North America and Europe are projected to continue to be the most important markets for retail ready packaging. Furthermore, through 2026, APEJ and North America are expected to have the greatest CAGRs in the market.
- Paper and paperboard are expected to account for the biggest proportion of the market by material type. Furthermore, paper and paperboard, polyethylene terephthalate (PET, PETE, PETG or polyester), and high density polyethylene (HDPE) are expected to grow at a constant CAGR.
- Die-cut display containers are predicted to be the most popular among the many goods available on the market, followed by corrugated cardboard boxes. By the end of 2026, sales of these two product types are expected to total over 58,000 thousand tonnes.
- Meat, poultry, & seafood, non-alcoholic beverages, and alcoholic beverages are projected to remain dominant application sectors in the global retail ready packaging market.
- The most common end-user of retail ready packaging will continue to be food and beverages.
Which Region is expected to Provide Most Lucrative Opportunities to Manufacturers of Retail Ready Packaging Present in the Market?
In 2021, the retail ready packaging industry in North America led overall sales of retail-ready packaging. It contributed more than 25% to the overall market valuation for retail ready packaging and is expected to expand at a CAGR of 7.1 percent between 2022 and 2032.
Furthermore, the presence of major corrugated board packaging vendors in this region, such as Georgia-Pacific LLC, International Paper Company, and West-Rock Company in the United States, creates a highly profitable market scenario for retail ready packaging manufacturers with a strong supply-chain network in the United States. As a result, the US retail ready packaging market is expected to increase at a 7.6% CAGR over the following ten years, reaching a market worth of USD 19.7 billion by 2032.