August 17, 2021
According to the research report titled ‘Retail Ready Packaging Market Size By Product (Die Cast Display Box, Corrugated Paper Box, Shrink Wrapped Trays, Folding Cartons), By Material (Paper & Paperboard, Plastic [PETE, PE]), By Industry (Food [Dairy Products, Fruits & Vegetables, Meat & Poultry], Beverages, Cosmetic & Personal Care, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global retail ready packaging market is reckoned to register notable gains over the forecast period 2020-2026.
As per the report findings, rising demand for packaging solutions across the food, pharmaceutical & cosmetic industries, as well as rapidly expanding construction sector are contributing to worldwide retail ready packaging market growth.
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Despite the positive industry outlook, stringent regulatory norms, and concerns regarding amount of environmental waste created by packaging products are expected to impede market progression in the forthcoming years.
Considering material type, plastics material segment, which is further split into PETE and PE, accounted for 30% of the total market share in 2019 and is estimated to register 4.5% CAGR through the analysis timeframe. The PETE and PE sub-segments are anticipated to expand at 4.5% CAGR and 5.1% CAGR through 2026, respectively.
Based on product gamut, corrugated paper boxes segment is touted to generate substantial returns over the forecast period. This can be attributed to ecofriendly properties, and rising product demand in food sector due to superior safety, and high-quality features.
Moving on to application scope, beverage segment held a total of 25% in worldwide retail ready packaging industry share in 2019 and is likely to observe considerable growth throughout the assessment period. Meanwhile, food segment captured a major market share in 2019 and is estimated to record a similar growth trend over the next 5 years.
From a regional point of view, Asia Pacific accounted for 40% of the total industry share in the recent past and is projected to record y-o-y growth of 4.8% over the forecast time frame. Whereas, North America held 20% of the overall market share in 2019 and is poised to garner remarkable returns over the assessment period. Speaking of Europe, the market in this region is likely to witness steady gains during 2020-2026, driven by mounting demand for processed food.
Key players profiled in global retail ready packaging market report are Huhtamäki Oyj, Refresco Group, DS Smith plc, SIG Combibloc Group AG, BillerudKorsnäs AB, Packaging Corporation of America (PCA), Clearwater Paper Corp., Linpac Group Ltd., Weedon Group Ltd., Smurfit Kappa Group plc, Amcor plc, WestRock Co., Georgia-Pacific LLC, and International Paper Co.