Global Retail-ready Packaging Market 2019-2023 | Use of Fiber-Based Material for Packaging to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
The global retail-ready packaging market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global retail-ready packaging market 2019-2023. (Graphic: Business Wire)
Retail-ready packaging is eco-friendly as it is made of recyclable materials such as paper and cardboard. The high strength and stability offered by retail-ready packaging reduces transit damage and lowers storage space and transportation costs through supply chain optimization. It also ensures higher customer satisfaction with improved visibility. Many such benefits offered by retail-ready packaging are driving the growth of the market.
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As per Technavio, the use of fiber-based material for packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Retail-Ready Packaging Market: Use of Fiber-Based Material for Packaging
Packaging products made using fiber-based materials are witnessing wide acceptance across industries such as food and beverage, chemical, and construction. This is owing to the fact that fiber-based materials are reusable, renewable, and biodegradable in nature. The use of such packaging products is helping enterprises comply with regulations of various countries. The increased use of fiber-based material for packaging is expected to boost the growth of the global retail-ready packaging market during the forecast period.
“Growth in online retail stores/retailing and M&A leading to market consolidation are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Retail-Ready Packaging Market: Segmentation Analysis
This market report segments the global retail ready packaging market by end-users (food, beverages, household products, and other end-users) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the growing demand for on-the-go food and ready-to-drink beverages in the US.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: PACKAGING MANUFACTURING
SOURCE: Technavio Research
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PUB: 11/08/2019 08:30 AM/DISC: 11/08/2019 08:30 AM