Smithers latest report, “The Future of Retail-Ready Packaging to 2029”, reveals global demand for corrugated and plastic retail-ready packaging (RRP) is set to grow from 33.8 million metric tonnes in 2024 to 42.7 million tonnes by 2029, driven by a 5% CAGR, with the market value rising from $54.6 billion to $69.2 billion.
As the population grows alongside a greater demand for flexible primary packaging, RRP must effectively display and promote a host of products. Food items account for over three quarters of the total volume demand, with beverages contributing another 15% to the overall figure, the report highlighted. Over the medium term to 2029, the report suggested that these market shares are predicted to remain mostly unchanged, with a slight increase anticipated in the market share of non-food goods.
In 2024, over 75% of RRP was made from corrugated board, a figure expected to rise to 80% by 2029. The report revealed that die-cut containers are poised for above-average growth, while shrink-wrapped trays and plastic RRPs will experience growth significantly below the market average, leading to a decrease in its market share.
Smithers’ report also unveiled that North America, Western Europe, and the Asia-Pacific region together accounted for nearly three-quarters of global RRP demand in 2024. However, the highest growth from 2025 to 2029 is anticipated in Africa, India, China, and other emerging markets in Asia, where consumption is projected to grow at an annual rate of over 8%, continuing through the end of the decade.
