NEW YORK, Sept. 19, 2019 /PRNewswire/ —
The global in-store retail packaging market is projected to grow at a CAGR of more than 5% during the forecast period.
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With the rise in environmental consciousness, the packaging industry is shifting toward recyclable materials. Several government directives regarding the usage of sustainable materials for packaging purposes have been framed, which are expected to increase the demand for sustainable packaging material. Besides, the usage of fuel-based materials is likely to decrease during the forecast period, which is likely to increase the adoption of fiber board-based packaging, thus driving the global in-store retail packaging market. Cost-effectiveness is one of the major driver for the high adoption of retail ready packaging in APAC, MEA, and Latin America. However, mature markets such as North America and Europe, which have a high penetration of in-store retail packaging, are moving toward retail ready packaging to overcome the high labor and operational costs. With the change in governmental policies toward retail FDI investment, supermarkets and hypermarkets are increasing their presence in developing countries, thereby driving the global in-store retail packaging market.
Growth in organized retail, co-ordination between retailers, manufacturers, and converters, rise of sustainable packaging are the factors that are likely to contribute to the growth of the in-store retail packaging market during the forecast period
This research report on the in-store retail packaging market covers market sizing & forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by packaging (retail ready packaging and display packaging), products (fiberboard and rigid plastic and others), applications (food industry, beverage industry, and others), and geography (Europe, APAC, North America, Latin America, and MEA).
The study considers the present scenario of the in-store retail packaging market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
In-store Retail Packaging Market: Segmentation
This research report includes detailed market segmentation by packaging, products, applications, and geography. Retail ready packaging is showing rapid growth mainly due to the brisk growth of modern-day retail networks such as hypermarkets, supermarkets, and convenience stores. Attractive retail packaging is helping to increase profitability, high visibility, and easy navigation of the product, which is significantly driving the in-store retail packaging market globally. Further, brands are collaborating with retail stores and vendors to increase profit margins by making retail-ready packaging visually appealing with high-quality prints.
The food industry is the highest value and volume generator for the in-store retail packaging market. The growth rate is primarily attributed to the high demand for fresh products, which are hygienic with long shelf life. Although the consumption of dairy products across geographies is boosting the global in-store retail packaging market, the demand for retail dairy packaging products is expected to be high in developed economies. The adoption of retail ready packaging personal care products is high, especially with premium goods such as perfumes, deodorants, and cosmetics and is expected to be a significant value generator for the in-store retail packaging market.
The use of rigid plastic, which can either be reused or disposed of, is a major segment of the retail ready packaging market. The availability of low-cost plastic and its durability is expected to generate demand for rigid plastic. Further, transparent rigid plastic is highly in demand for packaging of personal care products and other luxury items, which is driving the in-store retail packaging market significantly.
Market Segmentation by Packaging
• Retail Ready Packaging
• Display Packaging
Market Segmentation by Products
• Fiberboard
• Rigid Plastic
• Others
Market Segmentation by Applications
• Food industry
• Beverage industry
• Others
In-store Retail Packaging Market: Geography
The retail-ready and display packaging is witnessing steady growth in Europe, especially in Germany and the UK. The market is largely fragmented in Europe, with smaller players catering to locally set-up retail stores. The growth in the retail and FMCG industries in APAC has contributed immensely to the global in-store retail packaging market. The market in APAC is mainly driven by China, India, and Australia, which are the most significant revenue contributors. Further, the market in India is largely dominated by convenient stores and grocery stores, with hypermarkets constituting a low share in the market. The presence of high labor costs in the US and Canada is a major driver for the in-store retail packaging market. In Latin America, the food and beverage industry has a higher market share than non-food categories. Also, the adoption of retail ready packaging of wine and other non-alcoholic beverages products in rigid plastic packaging is an active driver for the market growth in the region. Turkey, Saudi Arabia, and South Africa are the major revenue contributors to the MEA in-store retail packaging market.
Market Segmentation by Geography
• Europe
o Germany
o UK
o France
o Spain
o Italy
• APAC
o China
o Australia
o India
o Japan
o South Korea
• North America
o US
o Canada
• Latin America
o Mexico
o Brazil
o Argentina
o Chile
• MEA
o Turkey
o Saudi Arabia
o Egypt
o South Africa
o UAE
Key Vendor Analysis
The in-store retail packaging market majorly depends on the general economic condition of the region. Retail ready packaging is adding to the existing revenue stream; hence, the competitive pressure is high. Larger players have been aggressively adopting inorganic growth strategies to expand their presence across geographies. Technological strength and high-volume product lines of key players have helped offset cost variations. However, the competition is intense among existing vendors.
Key Vendors
• DS Smith
• Smurfit Kappa
• Mondi
• International Paper
• Westrock
Other Prominent Vendors
• Conitex Sonoco
• Indevco
• Georgia Pacific
• Menasha
• Saica Pack
• Mayr-MelnhofKarton AG
• Weedon Group
• Packaging Corporation of America
• Caps Cases
• Pratt Industries
• C&B Display Packaging
• STI Group
Key market insights include
1. The analysis of in-store retail packaging market provides market size and growth rate for the forecast period 2018-2024.
2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the in-store retail packaging market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook for in-store retail packaging market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
Read the full report: https://www.reportlinker.com/p05815871/?utm_source=PRN
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