The most recent study conducted by Report Ocean, titled “Global Retail Ready Packaging Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Retail Ready Packaging. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
The Retail Ready Packaging (RRP) can be defined as a secondary packaging of any product. Retail Ready Packaging is easy to identify and handle the product, to display the brand. looks attractive and lightweight. Retail Ready Packaging made up of plastic, paper and paperboard. The key factor driving the market growth is rising demand in FMCG sectors.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Retail Ready Packaging uses in FMCG sectors to design the product which from customer can attract from packaging, helps to increase the growth and demand of product. For instance, according to India Brand Equity Foundation, the value of FMCG market in India in the year 2018 was USD 68.38 billion and in the year 2021 the number reached USD 103.70 billion.
Demographic help to increase the revenue and market of Retail Ready Packaging. Moreover, the one more key factor driving is E-Commerce industry which helps in transportation as well as help in supply chain cost. For Instance, according to UNCTAD, the sale of e-commerce industry in US in the year 2019 is $5269 billion and in the year 2020 is $5638 billion. The opportunity of the global Retail Ready Packaging market is recycling and sustainability of packaging.
Mostly Retail Ready Packaging uses the paper and paperboard which is very easy to recycle so this can help company to decrease the wastage and help to increase the brand promotion. However, lack of standardization and additional cost of capital, challenges the growth of Retail Ready Packaging.
The key regions considered for the global Retail Ready Packaging (RRP) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region of Retail Ready Packaging due to rising the demand and growth of food and household products. Whereas, Asia Pacific is the fastest growing region due to rising demand in end-use industries such as Food and Beverages, Electronics and Health and Beauty.
Major market players included in this report are:
DS Smith PLC.
Green Bay Packaging Incorporate.
Mondi Group.
The Cardboard Box Company.
International paper Company.
Weedon Group.
WestRock Company.
Georgia-Pacific LLC.
Vanguard Companies.
Smurfit kappa Group.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Die Cut Display Containers
Corrugated Cardboard Boxes
Shrink Wrapped trays
Plastics Containers
Folding Cartoons
Modified Cases
By Materials
Paper and Paperboard
Plastic
By Application
Food
Beverages
Health and Beauty products
Household products
Electronics
Flowers
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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