Retail Ready Packaging Market Analysis

Retail Ready Packaging Market Analysis

The paperboard segment will generate a demand of around 35 million tons by 2028 owing to the growing demand for sustainable packaging across the globe. The paper & paperboard recyclable and adheres with various packaging regulations, making it highly desirable for product packaging. Paper & paperboards are cost-efficient alternatives of plastics, providing similar characteristics. Plastic is another important material segment in the industry. Among the various plastic segments, polyethylene is anticipated to show the highest revenue gains during the assessment period.
 

The corrugated box segment is projected to grow at a CAGR of over 5% through 2028. The RRP products possess varied properties, making them a preferred choice in food, beverage, pharmaceuticals, electronics, and cosmetic industries. Corrugated boxes exhibit excellent properties, such as impact resistance, cushioning, and shock absorption, making them highly suitable in the packaging of food, beverage, cosmetic, and personal care products. RRP products also help in providing better product identification properties. The growing demand for corrugated products mainly in the Asia Pacific region is anticipated to further fuel the retail ready packaging market share during the forecast period.
 

The food application segment dominates the retail ready packaging market and will generate over USD 35 billion by 2028 owing to the growing demand for processed food in the developing regions. RRP products are recyclable; hence, they comply with various food packaging regulations across the globe. In terms of manufacturers, these packaging products allow effective brand promotions at a comparatively lower price, making them ideal for the competitive food & beverage market.
 

The other applications segment includes electronics, homecare products, and tobacco is anticipated to exhibit a CAGR of over 3.5% through 2028. The growing per capita income in the developing regions has resulted in the increase of electronic sales, in turn, boosting the overall retail ready packaging industry during the forecast period.
 

Asia Pacific is one of the major revenue pockets and will hold a market share of over 40% by 2028 due to the growing retail sector in India and China. The propelling investments in various sectors, such as food, beverages, cosmetics, and pharmaceuticals, are projected to have major to the overall Asia Pacific packaging industry.
 

The Middle East retail ready packaging industry held a share of around 9% in terms of revenue in 2021. The burgeoning retail sector in the region coupled with increasing demand for packaged food is anticipated to augment the production demand throughout the forecast period.