The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on the global and regional basis. Moreover, the study covers price trend analysis, product portfolio of various companies according to the region.
Sarasota, FL -- (SBWIRE) -- 12/11/2018 -- Zion Market Research has published a new report titled "Retail Ready Packaging (RRP) Market by Type (Modified Cases, Plastic RRP, Die-Cut Display Boxes, Shrink-Wrapped Trays, and Others), by End-User (Beverage Industry, Food Industry, and Non-Food Industry): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, global retail ready packaging market was valued at approximately USD 61.10 billion in 2017 and is expected to generate revenue of around USD 81.82 billion by the end of 2024, growing at a CAGR of around 4.26% between 2018 and 2024.
Raising interest for RRP in grocery stores drives the market in the coming years. Creating availability in the inventory network is foreseen to support the worldwide market in the future. Increasing preference of the general population towards simple and viable dealing with items is additionally foreseen to cultivate the development of the worldwide market. Implementation of the new shopping patterns for products, tempt potential customers to buy these items; thus, it is propelling the market growth sooner rather than later. The global retail ready packaging market utilizes eco-friendly packaging which maintains a sustainable environment; this factor is additionally foreseen to increase the worldwide market development. On the other hand, stringent government regulations and effective supply chain network in a few regions may affect the market development in the future.
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Customer's preferences and choices are changing day to day. Development in packaging food sector is mostly determined by customer needs and preference which are basically impacted by changing worldwide patterns. Packaging food technologies are additionally evolving owing to consumer requests and industrial production and generation of quality food products. Likewise, changes in retailing practices, or customer's lifestyle, display significant changes and boost the market growth and development.
The retail ready packaging market is segmented on the basis of type, which is further divided into plastic RRP, die-cut display boxes, modified cases, shrink-wrapped trays, and others. Die-cut display boxes held the major revenue share in 2017. The growth is attributed because the boxes are easy to handle as well as due to its product recognition features; these boxes are gaining reputation among retailers. Also, the boxes are easy to transport and are an eye-catching option to make the brands and the organizations more visible.
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Based on end-user, the retail ready packaging market has been categorized as the food industry, beverage industry, and non-food industry. The food industry contributed a significant revenue share in 2017. The growth of this segment is attributed because food packaging involves the packaging of various items, for example, vegetables, edible oils, snacks, fruits, and many more. FMCG organizations and their competitors combining the rising consumer preferences are boosting the growth of the segment.
Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa are regional segments of the global retail ready packaging market. North America held major revenue share in 2017 and is expected to continue its regional superiority in the forecast period. The growth is accredited to the consumer demands which have led to an ongoing increase in the number of supermarkets and hypermarkets. Moreover, advancement in printing technology encourages the printing of attractive designs and textures on packages. Europe also contributed a good market share in 2017. This growth is attributed due to the growth of the retail user base followed by the augmented presence of value-added box types in the region. Such factors will further boost the market growth and development in the forecast time period.
Some of the industry players operating in the retail ready packaging market include Enviro-Hub Holdings Ltd., Global Electric Electronic Processing Inc., Boliden AB, Tetronics (International) Ltd., MBA Polymers, Inc., Umicore S.A., Stena Technoworld AB, Aurubis AG, Electronic Recyclers International, Inc., and Sims Metal Management Ltd.
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This report segments the global retail ready packaging market as follows:
Global Retail Ready Packaging (RRP) Market: Type Segment Analysis
Die-Cut Display Boxes
Global Retail Ready Packaging (RRP) Market: End-user Segment Analysis
Global Retail Ready Packaging Market: Regional Segment Analysis
The Middle East and Africa