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According to MRFR analysis, the global Retail Ready Packaging Market is expected to register a CAGR of 4.8% from 2021 to 2030 and hold a value of over USD 94.2 billion by 2030.
Retail Ready packaging is also recognized as shelf-ready packaging for the products that are ready for display at the retail stores without the additional need of unpacking inner contents. The packaging gives the products an advanced look and thus promotes market revenue. Retail Ready packaging is used in numerous end-user industries such as pharmaceutical, food industry, health care, personal care, beverage, dairy, meat, and eggs industries. As numerous end-users utilize the Retail ready packaging market revenue has never gone down in history.
The diverse encouraging methods along with adding graphics on the packaging material such as embossed and other detailing on the surface of the packaging help in endorsing the product and adding brand value to the product. More than 38% of the world population demanded that they are ready to pay extra for comfortable and functional packaging. This attitude of consumers has given manufacturers the focus on refining the packaging and other effective ways in offering the products to the consumers.
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COVID-19 has generated higher demands for pharmaceuticals, healthcare products, groceries, and the e-commerce sector. This has stimulated the demand for a specific kind of packaging that has helped the public during an emergency.
North America is projected to hold a considerable share of the global Retail Ready Packaging Market. Due to growing investment in research and development processes and acceptance of solutions in the region whereas Asia-Pacific is projected to grow at a faster pace during the forecasted period. The rising number of Retail Ready Packaging Market players across regions is projected to drive market growth further. Moreover, growing investments by prominent vendors in product capabilities and business expansion is projected to fuel the market during the study period. Many market players are finding profitable opportunities in emerging economies like China and India, where large populations are attached to innovations in numerous industries
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The global Retail Ready Packaging Market has been segmented into product type, and end-user.
Based on product type, The global Retail Ready Packaging Market has been segmented into Die-cut Display Containers, Shrink-wrapped trays, Plastic Containers, and Folding Cartons. The die-cut display containers and corrugated cardboard boxes are likely to continue as the largest revenue contributors to the global retail-ready packaging market. Demand for these products will be predisposed by growth in the retail user base along with the greater existence of the value-added box types.
Based on end-user, The global Retail Ready Packaging Market has been segmented into Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, Printing & stationery, Electrical & Electronics, and Other Industries. The food & beverages are expected to lead the global market for retail-ready packaging, with a market revenue share of 27% significantly larger than those of all the other end-user segments combined. Demand for retail-ready packaging for use in food & beverages will be driven by a rising emphasis on curtailing labor costs by eliminating the product handling requirements related to the stocking of products.
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Some of the key market players are BillerudKorsnäs AB, Packaging Corporation of America Georgia-Pacific LLC, DS Smith, International Paper Company Amcor, WestRock Company, Weedon PSC Ltd, Smurfit Kappa Group, Clearwater Paper Corporation, SIG Combibloc GmbH, Refresco Group, Huhtamaki Group
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