Retail Ready Packaging Market Growth: From US$ 81.4 Billion in 2023 to US$ 102.2 Billion by 2032

Retail Ready Packaging Market to Reach US$ 102.2 Bn by 2032, Growing at a 2.4% CAGR from US$ 81.4 Bn in 2023

WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- Market Overview The global retail ready packaging (RRP) market was valued at US$ 81.4 Bn in 2023 and is projected to grow at a CAGR of 2.4% from 2024 to 2032, reaching a value of US$ 102.2 Bn by the end of the forecast period. Increasing demand for die cut display containers, combined with robust growth in the retail sector, is driving market expansion globally.

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Analyst Viewpoint

The rising popularity of die cut display containers is a significant factor fueling market growth. These packaging solutions offer versatility, durability, and cost-efficiency, making them a preferred choice among retailers and manufacturers.

Retail ready packaging streamlines product stocking and display while maintaining brand image, ultimately reducing labor and operational costs. Companies are increasingly focusing on R&D to develop robust structural designs that optimize space utilization, reduce waste, and enhance overall functionality.

Market Introduction

Retail Ready Packaging (RRP), also known as shelf-ready packaging, is a packaging solution designed to optimize product stocking and improve in-store efficiency. RRP includes case stackers, pallet displays, and counter displays, made from materials such as paperboard, plastics, and paper. These solutions offer several benefits, including:

• Lightweight and easy handling
• Faster restocking and reduced labor
• Improved shelf-space utilization
• Effective brand promotion and reduced packaging waste

RRP solutions are primarily used in food, beverages, consumer goods, and electronics industries, as visually appealing packaging enhances consumer experience while reducing operational overhead.

Key Market Drivers

1. Increase in Popularity of Die Cut Display Containers
Die cut display containers are emerging as a preferred retail packaging solution due to their reusability, cost efficiency, and enhanced product safety. They are widely adopted in supermarkets, hypermarkets, and small retail stores.

• Benefits of Die Cut Containers:
o Reduced shipping costs
o Lower labor costs for shelf stocking
o Improved shelf-space efficiency in smaller stores

These advantages are increasing the adoption of die cut display containers, positively influencing the market outlook.

2. Robust Expansion in the Retail Sector

The growth of the global retail sector, particularly in developing economies, is significantly contributing to the retail ready packaging market.

• In 2021, India’s Retailer Association of India (RAI) reported retail sales returning to 93% of pre-COVID levels, with consumer durables sales climbing by 15%.
• In North America, retail sales in the U.S. grew from US$ 5.13 Trn in 2022 to an estimated US$ 5.23 Trn in 2023 (National Retail Federation).

The growing focus on reducing material wastage and improving cost-efficiency is driving increased adoption of RRP solutions.

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Regional Outlook

Leading Region: North America

North America dominated the retail ready packaging market in 2023, driven by:

• Expansion of major retail chains like Walmart and Kroger
• Growing preference for cost-effective and visually appealing packaging solutions
• Increased adoption of sustainable packaging in the U.S. and Canada

Key Statistics:

• Retail sales in the U.S. reached US$ 5.23 Trn in 2023, reflecting steady growth.

Asia Pacific: Emerging Market

Asia Pacific is poised for significant growth due to rising retail activity in emerging economies like India and China. The region’s strong demand for efficient and sustainable packaging solutions is expected to boost market growth.

Key Market Segmentation

By Product Type

• Die Cut Display Containers
• Corrugated Cardboard Boxes
• Shrink-wrapped Trays
• Plastic Containers
• Folding Cartons
• Modified Cases
• Others (Promotional Bins, etc.)

By Material Type

• Paper & Paperboard
• Plastics
• Others (Metals, Fiberboard, Glass, etc.)

By Application

1. Food
o Dairy Products
o Fruits & Vegetables
o Pet Food
o Baby Food
o Confectionery
o Meat, Poultry & Seafood
o Others
2. Beverages
o Alcoholic Beverages
o Non-alcoholic Beverages
3. Health & Beauty Products
4. Household Products
5. Electronics
6. Flowers
7. Others (Gifts, Fashion Items, etc.)

By Region

• North America (U.S., Canada)
• Europe (Germany, U.K., France, Italy, BENELUX, Russia, Spain)
• Asia Pacific (China, India, Japan, ASEAN, Australia & New Zealand)
• Latin America (Brazil, Mexico)
• Middle East & Africa (North Africa, GCC Countries, South Africa)

Competitive Landscape

Key players in the retail ready packaging market are focusing on product innovation, sustainable solutions, and acquisitions to strengthen their market positions.

Leading Companies:

• DS Smith plc
• Smurfit Kappa Group
• International Packaging Corporation
• WestRock Company
• Menasha Packaging Company, LLC
• Klöckner Pentaplast Group
• Georgia-Pacific LLC
• Pratt Industries Inc.
• McLean Packaging Corporation
• Fencor Packaging Group Limited

Recent Developments:

1. Smurfit Kappa UK Limited (SKUK): Acquired Atlas Packaging in 2022 to expand its corrugated packaging portfolio.
2. Stora Enso: Launched AvantForte WhiteTop, a 100% virgin fiber-based kraftliner, targeting premium shelf-ready packaging applications.

Conclusion

The retail ready packaging market is poised for moderate growth over the forecast period, driven by increasing adoption of die cut display containers and the robust expansion of the retail sector. North America remains the dominant market, while Asia Pacific emerges as a significant growth region due to rising retail demand in emerging economies. Key players are focusing on innovative and sustainable packaging designs to strengthen their market positions and meet evolving consumer preferences.

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