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The retail-ready packaging market share is expected to increase by USD 16.92 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.82%.
This retail-ready packaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers retail-ready packaging market segmentation by end-user (food, beverages, household products, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The retail-ready packaging market report also offers information on several market vendors, including Bandall BV, Caps Cases Ltd., DS Smith Plc, Graphic Packaging Holding Co., Great Northern Corp., International Paper Co., Koch Industries Inc., Logson Group, Mid-Atlantic Packaging Inc., Mondi Group, Orora Ltd., Packaging Corp. of America, Smurfit Kappa Group, Sonoco Products Co., STI Gustav Stabernack GmbH, Tosca Services LLC, Vanguard Packaging LLC, Visy Group, Weedon Group Ltd., and The West Rock group among others.
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The increased adoption of corrugated boxes is notably driving the retail-ready packaging market growth, although factors such as rising prices of wood pulp and paper may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the retail-ready packaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Retail-ready Packaging Market Driver
The increased adoption of corrugated boxes is one of the key drivers supporting the retail-ready packaging market growth. Corrugated boxes are available in several forms and serve as packaging solutions for various products such as food, beverages, durable and non-durable products. This will drive the retail-ready packaging market. In the retail sector, the high demand for fast food requires lightweight and convenient packaging, which helps the market to grow. They are expected to contribute significantly to the total revenue of the market. Furthermore, corrugated packaging facilitates easy and quick material handling, which helps in the easy replenishment of the products, besides enabling retailers to make optimum utilization of shelf space which adds to the cost reduction for the retailers and manufacturers. Such beneficial attributes will drive the market growth during the forecast period.
Key Retail-ready Packaging Market Trend
M and A leading to market consolidation is one of the key trends contributing to the retail-ready packaging market growth. To gain an edge in the market, many companies have stepped forward to reduce competition through inorganic growth. For example, DS Smith acquired Interstate Resources, a US-based manufacturer and supplier of corrugated packaging products, in August 2017. In June 2018, DS Smith acquired Corrugated Container Corporation in the US and announced the proposed acquisition of Europac, a leading Western European integrated packaging business. Another example is the acquisition of KapStone Paper and Packaging by WestRock, which received a green signal from the European Commission in 2017. Thus, companies stepping forward to reduce competition will positively impact the market during the forecast period.
Key Retail-ready Packaging Market Challenge
Rising prices of wood pulp and paper is one of the factors hindering the retail-ready packaging market growth. Over the last few years, since 2019, paper mills raised the prices of kraft paper, which is the main raw material for the industry, by $20 to $40 per ton. However, buyers of corrugated boxes refuse to pay higher prices despite repeated requests. The profit margin for the packaging industry has contracted because of the rise in the price of all raw materials, mainly kraft paper, which is estimated to be around 70% to 76% of the total input cost. Moreover, the increase in prices by paper mills is met by resistance by packaging users. This can compel many manufacturers to shut down their operations. Thus, the shutdown of the corrugated cardboard industry will have a drastic impact on the retail-ready packaging market since it is among the important raw materials.
This retail-ready packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global retail-ready packaging market as a part of the global metal and glass containers market . Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the retail-ready packaging market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the retail-ready packaging market encompasses successful business strategies deployed by the key vendors. The retail-ready packaging market is fragmented and the vendors are deploying growth strategies such as product customization, product differentiation, and price differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The retail-ready packaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the retail-ready packaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for retail-ready packaging market in North America. Market growth in this region will be faster than the growth of the market in APAC.
Many buyers switch to sustainable packaging for their goods, which will facilitate the retail-ready packaging market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
North America is one of the primary regions that was severely affected by the COVID-19 pandemic in 2020. However, in the first half of 2021, several countries lifted lockdowns and resumed their production and manufacturing activities, owing to the ramping up of the vaccination drives all over the region. Thus, the demand for retail-ready packaging is expected to witness an accelerating growth momentum during the forecast period.
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The retail-ready packaging market share growth by the food segment will be significant during the forecast period. Growing urbanization and expansion of organized retailing in developing countries are significant factors that influence the demand for packaged food products. These high-volume products need frequent replenishment leading to an increase in retail-ready packaging. Aesthetic appeal, customer convenience, material compatibility, and product features are factors that help vendors in determining the type of packaging to be used for food products. Rigid plastics, corrugated boxes, die-cut wraps, and shrink wraps are the most important packaging products used in the food packaging market, primarily because they are easy to carry and store. Such factors will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the retail-ready packaging market size and actionable market insights on post COVID-19 impact on each segment.
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Retail-ready Packaging Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
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Market growth 2022-2026 |
$ 16.92 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.16 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key consumer countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bandall BV, Caps Cases Ltd., DS Smith Plc, Graphic Packaging Holding Co., Great Northern Corp., International Paper Co., Koch Industries Inc., Logson Group, Mid-Atlantic Packaging Inc., Mondi Group, Orora Ltd., Packaging Corp. of America, Smurfit Kappa Group, Sonoco Products Co., STI Gustav Stabernack GmbH, Tosca Services LLC, Vanguard Packaging LLC, Visy Group, Weedon Group Ltd., and The West Rock group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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