Retail Ready Packaging Market SWOT Analysis, Business Growth Opportunities, Forecast By 2028

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Retail Ready Packaging Market Business
Development Strategy, Key Stakeholders and
Regional Demand Analysis to 2028
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Global Market Scenario of Retail Ready Packaging
Industry
Retail Ready Packaging Market size is likely to
exceed USD 85 billion by 2028. The growing retail
sector, especially in the developing regions,
will propel market size. Some of the major
findings in the retail ready packaging market
report include The market is fragmented in
nature with a medium barrier for new entrants The
paper and paperboard material segment and food
application segment were the most prominent
revenue generating segments in the retail ready
packaging market in 2021. The polyethylene
polymer segment was the highest revenue
generating segment in 2021. Asia Pacific held
the largest revenue share in 2021 and is
projected to exhibit similar trends throughout
the assessment period.
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Continue-
The major players in the RRP market include,
Refresco Group, SIG Combibloc GmbH, Weedon PSC
Ltd., BillerudKorsnäs AB, WestRock Company,
Georgia-Pacific LLC, International Paper Company,
Smurfit Kappa Group, Amcor, Clearwater Paper
Corporation, Linpac, Packaging Corporation of
America, DS Smith, and Huhtamaki Group, among
others. The food industry is one of the major
consumers of retail ready packaging. This
packaging is used for dairy products, meat
poultry, and fruits vegetables. These products
are aseptic in nature, making them an essential
part of food packaging. COVID-19 outbreaks at
food processing plants, such as Smithfields
Foods, in the U.S., forced the shutdown of many
processing facilities. However, packaged food
industry, one of the major applications for
retail ready products, has seen a sudden surge
during early 2020 complimenting the overall
market growth. The retail ready packaging market
has seen decline of 5 in consumption in the year
2020. RRP is used in the packaging of a variety
of food products from on-the-go products to dairy
products. Paperboards used in the packaging of
food products are coated with polymers to
maintain hygiene and prevent contamination, which
leads to enhance the aseptic value of food
products. The paperboard segment is expected to
grow at a CAGR of 4.9 during the forecast
period. Furthermore, the rigidity of retail ready
packaging and the ability to withstand multiple
contacts are other major factors enhancing the
product demand in the food beverage industry
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The growing demand for ready-to-eat processed
food across the globe is expected drive the
demand for retail ready packaging products during
the forecast period. RRP products are recyclable
hence, they comply with various food packaging
regulations across the globe. The food segment is
anticipated to account for 40 share by
2028. Asia Pacific food beverage industry has
witnessed tremendous growth in recent times. The
developing retail sector in the region coupled
with the increasing penetration of processed food
beverages will act as a major factor, driving
the overall market throughout the forecast
period. According to the Indian Brand Equity
Foundation, The Indian food grocery market is
the worlds 6th in the world, with retail
contributing 70. The RRP market in Asia Pacific
is expected to grow at a CAGR of 6.0 during the
forecast period.
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Competitive Analysis
Moreover, the regeneration of the retail industry
in the Asia Pacific has opened up major
opportunities in the retail ready packaging
market. The combination of economic stability
with higher per capita income has created new
middle-class demography in the country. This
emerging middle class has driven up retail
figures in the country especially for
supermarkets hypermarkets, which is projected
to add up to the retail ready packaging market
during the review period. The major players in
the retail ready packaging industry include
Refresco Group, SIG Combibloc GmbH, Weedon PSC
Ltd., BillerudKorsnäs AB, WestRock Company,
Georgia-Pacific LLC, International Paper Company,
Smurfit Kappa Group, Amcor, Clearwater Paper
Corporation, Linpac, Packaging Corporation of
America, DS Smith, and Huhtamaki Group, among
others.
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