Highly Visible Packaging Market is Expected Witness High Revenue Growth Over the Forecast Period 2016-2024
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In the food industry, packaging is required to carry information pertaining to health benefits and ingredients used, method of preparation in order to reinforce the hygiene aspect, besides displaying details such as manufacturing date, shelf-life period etc. These details serve to reinforce purchase decision, and is also supported by offering food products in highly visible packaging, thus enabling contents of the package to be seen before a purchase is made. The reason highly visible packaging is gaining popularity worldwide, is because it allows easy authentication of particular brands and product differentiation. In addition, ability to be produced with certain durable properties such as tamper-proof and highly protective covering makes it a lucrative option for product manufacturers, and indirectly for consumers.
Packaging considered as highly visible include blister packaging, skin packaging, clamshell packaging, windowed packaging, shrink wrap packaging, plastic container packaging, glass container, and others.
The advantages offered by highly visible packaging are the main factors fueling demand for such products. This packaging enables efficient preservation and protection of products, besides offering convenience to customers to be able to make a purchase decision on the basis of what they see. This way, it not only helps customers in being selective, but also enables food production companies to maintain the competitive edge in the market. Conveying the proper information about products and legitimately communicating the brand image are some of the other main features that differentiate highly visible packaging from other types of packaging. These advantageous properties are the main factors expected to fuel growth of the highly visible packaging market in the near future.
Innovation in highly visible packaging technology and growing awareness among end-users are factors also significantly driving market growth and this market is expected to account for substantially high revenue growth over the forecast period.
However, relatively high capital expenditure of this type of packaging technology currently is resulting in hesitation among manufacturers to invest in setting up this technology. This factor is expected to act as a restraint for growth of the highly visible packaging market over the forecast period.
The global highly visible packaging market is segmented on the basis of types and regions. The product type segment is categorized into blister packaging, clamshell packaging, skin packaging, windowed packaging, shrink wrap packaging, plastic container packaging, glass container packaging, and others.
Geographically, the global highly visible packaging market is segmented into seven main regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. Due to higher consumer awareness, North America is expected to hold largest market share in the global highly visible packaging market, followed by Europe gaining market share by the end of 2016. Asia Pacific region is expected to witness maximum growth in consumption of highly visible packaging during the forecast period, on account of rising awareness, increasing consumption of consumer products, and increasing population.
Some key players in the global highly visible packaging market are Amcor, Bemis, MeadWestvaco, Sonoco Products, Mondi Group, Reynolds Group Holdings Limited, Rohrer Corporation, Bayer AG, Anchor Packaging, Imex Packaging, and others.
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