Retail Ready Packaging (RRP) Market expected to show steady growth by 2024
Global Retail Ready Packaging (RRP) Market: Overview
RRP stands for retail ready packaging usually used to pack foodstuff and beverages. RRP is associated with “Five Easies,” that is, to identify, open, replenish, shop, and dispose of. It packs the products in the ready-to-sell form in order to provide convenient transport of products to customers. It is a complete approach to reloading stocks efficiently and improve supply chain efficiency. It is designed to reduce the cost of the retailer and increase brand awareness. RRP ensures visibility of products and effective handling. For instance, Great Northern Corporation has created a Retail-Ready Packaging for Reichel Foods.
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Global Retail Ready Packaging (RRP) Market: Growth Factors
Escalating demand for RRP in supermarkets is expected to boost the market in the coming years. Developing connectivity in the supply chain is anticipated to boost the global market in future. Increasing preference of the people towards easy and effective handling products is also anticipated to foster the growth of the global market. Adoption of new shopping trend for RRP products entices potential customers to purchase these products; this, in turn, is expected to fuel the demand in the near future. The global RRP market uses eco-friendly packaging which has less impact on the environment and is easily degraded; this factor is also anticipated to augment the global market growth. Conversely, strict government regulations and incomprehensible supply chain in some countries may restrain the market growth in future.
Global Retail Ready Packaging (RRP) Market: Segmentation
The global RRP market is segmented on the basis type as modified cases, plastic RRP, die-cut display boxes, shrink-wrapped trays, and others. Of which, plastic RRP segment dominates the global market. On the basis of end-user, the global market is further categorized as beverage industry, food industry, and non-food industry. Of which, the food industry is the dominating segment and accounts for the largest market share in the global market.
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Global Retail Ready Packaging (RRP) Market: Regional Analysis
The global RRP market in Europe is anticipated to witness high growth in the global market growth. Early adoption of RRP in North America is expected to increase the demand in future. Improved economy and rising population in Asia Pacific contribute to the overall market growth. Escalating demand from supermarkets for RRP in developing economies is expected to foster the market demand in future. Moreover, formalized supply chain in China, Brazil, and Africa is also anticipated to enhance the market in future.
Global Retail Ready Packaging (RRP) Market: Competitive Players
Some of the major players dominating the global retail ready packaging (RRP) market include Mayr-Melnhof Karton, Polymer Logistics, Smurfit Kappa Group, Industrial Packaging, Creative Corrugated Designs, Robert Bosch, and ETT Verpackungstechnik. Other key players influencing the global market are RFC Container Company, DS Smith, Linpac Packaging, Amcor, Model Management, Caps Cases, Mondi Group, and i2i Europe.
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Global Retail Ready Packaging (RRP) Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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