Retail Ready Packaging Market to Experience a Hike in Growth in Coming year
The demand within the global retail ready packaging market has been rising on account of advancements in the overall retail industry, finds Transparency Market Research (TMR). The competitive dynamics of the global retail ready packaging market have been changing in recent times, and this factor has created fresh opportunities for some of the leading vendors. The prominent market players in the global retail ready packaging market have been focusing on developing resilient and durable packaging materials. This has been done to win the confidence of the retailers, and increase the profit margin. The retail ready packaging market is projected to witness new competitive strategies in the years to come. It would be interesting to see the reaction of the leading vendors in the global retail ready packaging market to the inflow of newbie players.
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The global market vendors in the retail ready packaging market are on a quest to continually expand their geographical reach, This strategy can also create new opportunities for local vendors who can tie up with the global players in the global retail ready packaging market. Moreover, acquisition of small and defunct players in the global retail ready packaging market is also a projected trend. Some of the key players in the global retail ready packaging market are Mondi, Weedon Group, International Paper Company, Orora Packaging Australia Pty Ltd, Amcor Limited, Smurfit Kappa Group plc, LINPAC Packaging, and Caps Cases Limited.
Transparency Market Research (TMR) predicts that the global retail ready packaging market would expand at a steady CAGR of 4.3% over the period between 2017 and 2025. The total value of the global retail ready packaging market is projected to reach US$84,465.6 mn by 2025-end, rising up from a value of US$60,521.1 mn in 2017. On the basis of end-user, retailers of food products have emerged as key consumers of retail ready packaging market.
Growth of Retail Channels to Propel Market Demand
The sale of several kinds of products through retail channels has played a vital role in the growth of the global retail ready packaging market. Retail ready packaging refers to packaging of goods in such a way that the retailers can directly stock the products on the shelves, post procurement. The utility served by retail ready packaging has played a vital part in the growth of the global market. Moreover, increase in the number of products available on the shelves of retail outlets has also aided market growth.
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Increasing Number of Retail Chains
With opening of foreign direct investments, several retail outlets have emerged across developing countries. This has given a global outreach to the global retail ready packaging market in recent times. Moreover, retailers have become extremely particular with the packaging of their products which has also given an impetus to market growth. Henceforth, the total revenues within the global retail ready packaging market are expected to witness an uptick in the years to come. The sale of fresh vegetables and fruits through retail outlets has created a plethora of opportunities within the global retail ready packaging market.
The review is based on TMR’s report titled, “Retail Ready Packaging Market (Material Type – Paper & Paperboard and Plastics; Product Type – Die Cut Display Containers, Corrugated Cardboard Boxes, Shrink Wrapped Trays, Plastic Containers, Folding Cartons, and Modified Cases; Application – Food (Dairy Products, Fruits & Vegetables, Pet Food, Baby Food, Confectionery, and Meat, Poultry & Seafood), Beverages, Health & Beauty Products, Household Products, Electronics, and Flowers) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.
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