The global retail ready packaging market
is prophesied in a report by Transparency Market Research (TMR) that
finds highly competitive landscape owing to presence of numerous players
to compete. However, extensive use of plastic for numerous applications
coupled with innovation of new product mainly for packing are creating
opportunities and driving growth of the market. Some of the players
operating in the growth of the market includes DS Smith plc, Weedon
Group, LINPAC Packaging, Smurfit Kappa Group plc, Caps Cases Limited,
Mondi, International Paper Company, Amcor Limited, Creative Corrugated
Designs, Inc., and Orora Packaging Australia Pty Ltd.
Report on the global retail ready
packaging market predicts steady growth with a CAGR of 4.3% between
forecast periods of 2017 to 2025. In 2017, the market value was
registered at a US$60.52 bn and predicted to attain value of US$84.46 bn
by the end of 2025.
High Adoption from Large Retailers to Ensure Safety of Product to be Beneficial for Market
Retail ready packaging market mainly
witnessing growth owing to its property of being a shelf-ready packaging
material. Mostly larger retailers and big stores including supermarkets
and hypermarkets referrers shelf-ready-packaging as they don’t need to
be packed or repacked. Due to its large shelf life, many store have
adopted the ready packaging for better stock managements and safety of
stock. These factors are propelling growth of the global ready packaging
market and expected to continue growth over forecast period.
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Ready packaging materials are mostly
recyclable and eco-friendly. Due to stringent regulations on the use of
plastic many environmentally-conscious people prefers ready packaging
materials. Advantages of material such as visibility, safe handling of
product coupled with cost effective material are augmenting growth of
the global market for ready packaging. However, standardization and
additional cost charged by suppliers are crimping growth of the world
ready packaging market.
Changing Trade Channels in Asia Pacific to Uptake the Market
The market is segmented on the basis of
material type, product type, application, and region. On the basis of
material type, the market is segmented in to paper & paperboard,
plastics, and others (metals). Of these, paper and paperboard is
anticipated to witness substantial growth over the forecast period owing
to its recyclability and sustainability. On the basis of type, die cut
display containers, shrink wrapped trays, corrugated cardboard boxes,
plastic containers, modified cases, folding cartons, and others
(promotional bins). Of these, die cut display containers are expected to
hold substantial share in terms of revenue in the market thanks to ease
of handling while transporting.
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