According to Smithers Pira's latest report, The Future of Retail-Ready Packaging to 2024, demand growth for retail ready packaging stems from emerging and transitional economies, with Asia Pacific accounting for 4.5 million tonnes, almost half of total global demand.
Meanwhile, the relatively mature Western markets will grow at a slower-than-average rate through 2024, although South and Central America will have the second highest demand at 1.7 million tonnes. Total global demand is 9.1 million tonnes.
Global retail-ready packaging (RRP) demand exceeded 29.1 million tonnes in 2018, with an average annual growth of 4% since 2014. In 2018, the market was valued at approximately $57.46 billion.
As shown in the figure below, from 2019 to 2024, the consumption of retail ready packaging is expected to grow at an average annual rate of 5.4%, and at constant prices in 2018, the total will reach nearly 40 million tons, worth US$77 billion.
