Retail Ready Packaging Market size is expected to exceed USD 71 billion by 2023

Market Size: USD 71 billion    CAGR: 3% CAGR

Retail Ready Packaging (RRP) market size was valued at over USD 58 billion in 2015 and is expected to exceed USD 71 billion by 2023, growing at more than 3% CAGR from 2016 to 2023.
In terms of volume, retail packaging market size was over 29 million tons in 2015 and is likely to surpass 35 million tons by 2023, with estimated gains of more than 3.1% from 2016 to 2023.
Europe retail ready packaging market was the dominant region owing to early adoption by marketers in the region; it is expected to witness notable growth over the forecast period. North America is anticipated to grow at a significant rate due to retail market growth in Canada and the U.S.

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Rapid growth in the retail industry owing to increase in consumer purchasing power in India and China is likely to positively drive the Asia Pacific retail packaging market. South Africa and Turkey are expected to witness significant growth owing to shift in purchasing habits and growing preference for supermarket among consumers.
Retail packaging or (RRP) Retail Ready Packaging is an innovative packaging approach that allows product to ready for sale or merchandising with nominal opening or setup. It also meets other advantages such as ease of opening and identifying products. RRP consists of both reusable transport packaging and recyclable single use packages.

Stringent regulations on plastic packaging are likely to hamper global demand in the coming years. Higher packaging cost is anticipated to adversely impact retail packaging market price trend.
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Retail ready packaging market share is comprised of Amcor, Mondi Group DS Smith, Smurfit Kappa Group, Creative Corrugated Designs, Caps Cases, ETT Verpackungstechnik, Industrial Packaging, i2i Europe, Linpac Packaging, Model Management, Mayr-Melnhof Karton, RFC Container Company, Polymer Logistics, and Robert Bosch.
Bakery segment includes biscuit liners, baking trays, cake box, clamshell packaging, and cake bake discs. Change in eating habits and increasing trend for outside food is likely to drive growth in this segment.
Flower segment consist of flower boxes which are water resistant and designed for export purpose. Electronics segment is comprised of air cushion packaging, bubble bags, composite packs, counter displays, corrugated pallets, and labeled boxes. Growth in export industry is likely to be among the key factors to positively influence retail packaging market size in these industries.

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