According to the report, global retail ready packaging market was valued at approximately USD 61.10 billion in 2017 and is expected to generate revenue of around USD 81.82 billion by the end of 2024, growing at a CAGR of around 4.26% between 2018 and 2024.
New York, NY, Aug. 16, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Retail Ready Packaging Market – by Type (Modified Cases, Plastic RRP, Die-Cut Display Boxes, Shrink-Wrapped Trays, and Others), by End-User (Beverage Industry, Food Industry, and Non-Food Industry): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global demand for retail ready packaging market was valued at approximately USD 61.10 billion in 2017 and is expected to generate revenue of around USD 81.82 billion by the end of 2024, growing at a CAGR of around 4.26% between 2018 and 2024.
The global retail ready packaging market is likely to experience significant growth in the coming years. RRP is a method of packing the products in the ready-to-sell form so as to provide convenient transportation of products to end customers. Rising interest for RRP in grocery stores is relied upon to help the market in the coming years. Creating availability in the inventory network is foreseen to support the worldwide market in the future. Increasing preference of the general population towards simple and viable dealing with items is additionally foreseen to cultivate the development of the worldwide market. Implementation of this new shopping pattern for products to tempt potential customers to buy items is fueling the market sooner rather than later. The global RRP market utilizes the eco-friendly packaging which maintains a sustainable environment; this factor is additionally foreseen to increase the worldwide market development. On the other hand, stringent government regulations and effective supply chain network in a few nations may affect the market development in the future. Such factors are expected to drive the retail-ready packaging market growth over the forecast period.
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Europe held a substantial revenue share in 2017 in the global retail ready packaging market. The growth is due to the visibility of value-added box types. The change in consumer preferences followed by their increased usage and consumption has enhanced the usage of value added box types. Moreover, the increased retailer base in the region is projected to further drive the market growth in the forecast time period.
North America held a substantial revenue share of the global retail ready packaging market in 2017 and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed to the consumer demands have led to an ongoing increase in the number of supermarkets and hypermarkets. Moreover, development in printing technology encourages the printing of attractive designs and textures on packages. This empowers converters to create RRP units that enhance brand visibility and enable shoppers to perceive the item at the time of purchasing and decision-making. Such factors are expected to drive retail ready packaging market growth in the Asia Pacific region over the forecast timeframe.
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Latin America retail ready packaging market accounted for major growth rate during the forecast time period. The growth is accredited to the lifestyle changes in the consumer base in the region. Moreover, the rise in smaller-format stores by mass retailers will also push the visibility and implementation RRP, as these stores will have a number of product lines as compared to the traditional stores. These factors are projected to fuel the market development in the Latin America over the forecast time frame.
Some of the industry players operating in the retail-ready packaging market include Enviro-Hub Holdings Ltd., Global Electric Electronic Processing Inc., Boliden AB, Tetronics (International) Ltd., MBA Polymers, Inc., Umicore S.A., Stena Technoworld AB, Aurubis AG, Electronic Recyclers International, Inc., and Sims Metal Management Ltd.
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This report segments the global Retail ready packaging market as follows:
Global Retail Ready Packaging (RRP) Market: Type Segment Analysis
- Modified Cases
- Plastic RRP
- Die-Cut Display Boxes
- Shrink-Wrapped Trays
Global Retail Ready Packaging (RRP) Market: End-User Segment Analysis
- Beverage Industry
- Food Industry
- Non-Food Industry
Global Retail ready packaging Market: Regional Segment Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Southeast Asia
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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