Market Overview: In 2020, the global custom packaging market demonstrated significant strength, and it is anticipated to maintain a consistent revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. The growth in market revenue can be attributed to several key factors, including an increasing demand for convenient packaging and continuous innovations in packaging technologies. Additionally, the pursuit of brand awareness, personalized customer experiences, and enhanced customer engagement are other pivotal factors expected to stimulate the demand for custom packaging and contribute to market revenue growth.
The importance of product packaging for businesses extends beyond differentiation and consumer experience enhancement; it also encompasses the protection of the enclosed product. Custom packaging specifically refers to packaging designed explicitly to match a business's unique products. It is engineered to precisely fit the product, offering superior protection compared to generic packaging. While the structural design of the packaging is crucial, the visual aspects are equally important. Logos, patterns, shapes, images, and other branding elements can be printed on custom packaging to align with a company's brand identity. Packaging is often the first point of contact between customers and a brand, especially in offline retail settings. It sets the tone for the consumer's experience and reinforces their decision to choose the brand.
Major Factors Driving Global Custom Packaging Market Growth: The growth in revenue of the global custom packaging market is significantly driven by the aspiration to create a positive and lasting impression of products on both consumers and retailers. When businesses design and print bespoke packaging with their logos and colors, it becomes highly attractive to consumers. Custom packaging is an excellent solution for products with unique shapes or those susceptible to breakage, as it enhances shipment protection. Well-crafted customized packaging, combined with high-quality products, can enhance a brand's value, strengthening the emotional connection with customers and driving revenue growth. Consumers respond positively to well-designed packaging, which elicits joy and a sense of uniqueness, further bolstering revenue growth.
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Factors Restraining Growth of the Global Custom Packaging Market: The growth of the global custom packaging market faces significant challenges, including the time and effort required for designing, as well as elevated costs associated with additional processes and manufacturing. Customized packaging often necessitates extra layers of protection for designs, inks, and shapes, which can further increase costs. Additionally, requirements for careful handling and specialized shipping can potentially hamper revenue growth.
Global Custom Packaging Market Leading End-User Segment: In terms of revenue share, the beverage segment is anticipated to dominate other segments during the forecast period. The beverage industry encompasses a wide array of products, from water and wine to spirits and soda. Customized beverage packaging plays a pivotal role in enhancing brand recognition and driving sales, given the global preference for beverages.
North America Accounts for the Largest Revenue Share in the Global Custom Packaging Market: North America emerged as the largest market for custom packaging in 2020, boasting the highest revenue share. The growth in North America is primarily attributed to businesses' increasing adoption of customized packaging to distinguish their products and create packaging that is both transport-friendly and visually appealing. Technological advancements and cost-effective access to raw materials also contribute to market growth in this region. The Custom Packaging Market in North America is poised for robust revenue growth throughout the forecast period, supported by the presence of leading industry players such as Glenroy, ProAmpac, Owens Illinois, Packlane, Packola, PakFactory, SoOPAK Company, The Custom Boxes, Fantastapack, and Salazar Packaging.
Major Companies Profiled in the Report: The report profiles several major companies operating in the custom packaging market, including:
1. Smurfit Kappa Group
2. Glenroy
3. ProAmpac
4. Arka
5. Owens Illinois
6. Packlane
7. Packola
8. Huhtamaki
9. PakFactory
10. SoOPAK Company
11. International Packaging
12. The Custom Boxes
13. Refine Packaging
14. The Mondi Group
15. Pakible
16. Salazar Packaging
17. Design Packaging
18. PrimeLine Packaging
19. Sticker Mule
Strategies and Objectives of Major Companies: The report highlights the strategies and objectives of major companies in the custom packaging market. Here are a few notable examples:
1. In April 2021, Fantastapack, a U.S.-based web-to-print bespoke packaging company, introduced a new range of corrugated insert boxes. This marked the first-time automated technology was employed to create unique insert packaging online, giving customers a competitive advantage through innovative packaging solutions.
2. In November 2021, Packhelp secured $45.6 million in funding to expand its custom packaging business. Packhelp caters to businesses of all sizes, offering eye-catching custom packaging, which became particularly relevant with the surge in e-commerce and on-demand delivery.
3. In August 2021, C-P Flexible Packaging, based in the United States, acquired Fruth Custom Packaging and its subsidiary, Cleanroom Film and Bag (CFB), as part of its expansion strategy. This acquisition enhances C-P's presence on the West Coast and strengthens its packaging capabilities for medical devices, biopharmaceuticals, electronics, and semiconductors.
What Our Report Provides and Why Our Offering Is Superior: The report presents historical data and forecasts, offering insights into revenue growth at the global, regional, and country levels. It includes analysis of industry trends, consumption patterns, and market strategies for each region, major country, and segment from 2018 to 2028. The global market report encompasses information on industry trends, drivers, restraints, opportunities, threats, segment revenue, and market share contributions for each regional and country market.
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