New market data from Smithers Pira, a worldwide authority on packaging, suggests the retail-ready packaging market will reach $82.0 billion by 2021. The rise is based on a 4% annual growth from $62.8 billion in 2015. The areas with highest rate of expansion are Asia-Pacific and Africa, which currently boast 6% annual growth.
“Shorter print runs are seen as a key factor driving the retail-ready packaging (RRP) market, as more retailers and brand owners are looking to promotional marketing to boost sales,” said Stephen Harrod, author of the Smithers report. “These promotions result in unpredictable demand for packaging in general – including RRPs – creating a premium on short runs and quick response to orders.” The full report is available here.
