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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Retail Ready Packaging Global Market Report 2022' -
The global retail ready packaging market is expected to grow from $70.76 billion in 2021 to $75.83 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The retail ready packaging market is expected to grow to $94.49 billion in 2026 at a CAGR of 5.7%.
The retail-ready packaging market consists of sales of retail-ready packaging services by entities (organizations, sole traders, and partnerships) that are used by retailers to sell the products and improve the supply chain that generates sales at the point of purchase. Retail-ready packaging refers to self-contained secondary packaging that is commonly used for stocking and display at big box or club stores.
The main types of retail ready packaging are die-cut display boxes, corrugated boxes, shrink-wrapped trays, folding cartons, and others.The die-cut display boxes are made by the die-cutting process in which a thin flat sheet of different materials is given a specific shape and size using machines or steel cutting die plates.
The various materials include paper and paperboard, and plastic, which are used in different applications such as food, beverages, cosmetics and personal care, pharmaceuticals, and others.
North America was the largest region in the retial ready packaging market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the retial ready packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The retail ready packaging market research report is one of a series of new reports that provides retail ready packaging market statistics, including retail ready packaging industry global market size, regional shares, competitors with a retail ready packaging market share, detailed retail ready packaging market segments, market trends and opportunities, and any further data you may need to thrive in the retail ready packaging industry. This retail ready packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rapid expansion of the retail sector is contributing to the growth of the retail-ready packaging market going forward.The retail sector refers to the businesses that sell goods through stores, on the internet, or to the public in small quantities.
Retail-ready packaging is helpful for the retail sector by reducing labor expenditures, providing customers with a more efficient shopping experience, and encouraging impulsive purchases.For instance, according to the retailer's association of India (RAI), the retail industry achieved 93% of pre-COVID sales in February 2021, and the sale of consumer durables has increased by 15%.
Therefore, the rapid expansion of the retail sector is driving the growth of the retail-ready packaging market.
New product developments have emerged as a key trend gaining popularity in the retail-ready packaging market.Companies operating in the retail-ready packaging sector are developing innovative products to strengthen their position in the market.
For instance, in 2019, DS Smith PLC, a UK-based packaging services provider, introduced a new line of loop-ready packaging.It is a more sustainable, robust, and zero-waste-ready packaging solution that provides a more convenient and affordable product type.
This can be recycled and can be used multiple times before that.Consumers need to pay a small deposit on the LRP (loop-ready packaging) when making their purchase.
Once finished with the items, the customers can simply return the packaging and jars to the store for a refund. The whole process has been automated in multiple places with a machine that scans the packaging and contents and provides a coupon with a store credit for future purchases.
In March 2021, Wellspring Capital Management, a US-based private equity firm, acquired Rohrer Corporation for an undisclosed amount.Through this acquisition, both companies are expected to deliver innovative consumer packaging solutions and are also expected to support Rohrer in the continued growth of its business so it can provide industry-leading packaging solutions for its customers.
Rohrer Corporation is a US-based retail packaging designer and manufacturer.
The countries covered in the retial ready packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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