The global personalized packaging market size was valued at approximately USD 25,678.20 million in 2018 and is expected to generate revenue of around USD 35,823.95 million by the end of 2026, growing at a CAGR of around 4.98% between 2019 and 2026.
The swift technological development and continuous improvement in the product have led to the upsurge in the packaging industry across the globe. With the help of these technological upgradations, the demand for personalized packaging is increasing. In addition, the emergence of sustainable and consumer-friendly packages has propelled the growth of the market. Moreover, with the help of personalized packaging, the products are easy to transport over long distances with safety and security. The transportation costs mainly depend upon the type of the product, its structure, and composure. With the change in geography, the needs of end-users also change. Many organizations are significantly investing their capital in research and development in order to come up with the exclusive and personalized product packaging so as meet the customer needs, provide satisfaction, and convenience to the customers. Ease of convenience, satisfaction, light weightiness and the safety of the products are the main reasons which are influencing the customer minds. Thus, the organizations across the globe are expanding their manufacturing and production capabilities to cater to the needs and demands of customers. Likewise, changes in retailing practices, or customer’s lifestyle, display significant changes and boost the market growth and development. Such factors are expected to drive the flexible packaging market growth over the forecast period.
The personalized packaging market is segmented on the basis of material type into glass, metal, plastics, and paper. Plastics segment held major revenue share in 2017. The growth is accredited to the large usage of this type of packaging in the food and beverage industry because it increases the shelf life of the food products.
Based on packaging type, personalized packaging market has been bifurcated into bottles, containers, jars, bags and pouches, cartons, envelopes, and boxes. Pouches segment is projected to contribute for noteworthy revenue share in 2017. The growth is anticipated due to its extensive usage in various end-user industries owing to its graphics properties, lightweight, and suitability for easy-open attributes.
Based on end-user, personalized packaging market has been categorized into food and beverages. Food segment contributed a noteworthy revenue share in 2017. The growth is anticipated due to rise in convenience packaging. Regulatory bodies such as FDA (Food and Drug Administration) have formulated stringent rules and regulations regarding food safety because of the growing health concerns among the consumers.
Europe held a substantial revenue share in 2017 in the global personalized packaging market. Ease of convenience, satisfaction, light-weightedness, and safety of the products are the main reasons influencing the customer minds. Thus, the organizations across the globe are expanding their manufacturing and production capabilities to cater the needs and demands of customers. This is driving the growth of the market.
The Asia Pacific personalized packaging market is estimated to grow at the highest growth rate over the forecast timeframe. The growth of this regional market is attributed to the rising demand of food industry in products such as alcoholic beverages, carbonated drinks, and others. In addition, the per capita income of the consumers in developing countries is growing at a substantial pace. This is further fueled by the changing lifestyles and changing food habits. Also, the food consumption in the region is growing. This is contributing to the healthy growth of the personalized packaging market. Such factors are expected to drive the flexible packaging market growth over the forecast period.
North America flexible packaging market accounted for important growth rate during the forecast timeframe. The growth is credited because of the consumers in the region want packaging which is convenient to transport and easy to carry apart from the aesthetic designs on the package. This factor is expected to drive industry growth in North America over the forecast period.
Some of the industry players operating in the personalized packaging market include ACG Ecopak, Owens Illinois Inc., Design Packaging, Inc., Elegant Packaging, International Packaging Inc., Smurfit Kappa Group, ABOX Packaging, Salazar Packaging Inc., Pak Factory Inc., CB Group, PrimeLine Packaging, SoOPAK Company, The Mondi Group Plc., ProAmpac LLC., Huhtamaki Oyj, Glenroy Inc., and others.
Global Personalized Packaging Market: Material Type Segment Analysis
Global Personalized Packaging Market: Packaging Type Segment Analysis
Global Personalized Packaging Market: End-User Segment Analysis
Global Personalized Packaging Market: Regional Segment Analysis
Global Behavioral Biometrics Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Autonomous Ships Market Size, Share, Growth, Trends, Company Analysis and Forecast 2020-2030Read more...
Global Cold Chain Logistics Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Food Packaging Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...
Global Industrial Packaging Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026Read more...