Personalized Packaging Market Explores New Growth Opportunities By 2024
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Personalized packaging is a very big trend nowadays which is seen in almost all sectors. Personalized packaging can be segmented into product type, its end users and by region. Products available in personalized packaging depend on the industry and the end user desiring that product. For example, a design house may want personalized bags, name labels, visiting cards, tissue papers, mugs, pens etc. So personalized packaging can be of any kind depending on how you want to present and market your brand. Therefore, personalized packaging can be in bags, mugs, boxes, imprinted ribbons, clothes (T-shirts) etc. The end users for these personalized packaging may range from the food and beverages industry to the pharmaceuticals sector, automobile industry to aviation industry, and textile industry to the advertising sector.
The food and beverages industry prefers personalized packaging with respect to their products and accessories. One can have personalized messages or phrases on the product boxes, on the product bottles or other similar packaging. In the pharmaceutical sector, personalized packaging can be done on medicine boxes, other accessories like note pads, paper clips, pens etc. In the automobile industry personalized packaging is usually seen on vehicle accessories. In the aviation industry, companies can have several personalized packaging such as uniforms, packaged meals and travel bags. The textile industry has many options for product personalization. Personalized packaging industry can get personalized shopping bags, clothing boxes, clothes as well as the labels on the clothes personalized.
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The increasing demand for personalization and changing demographics, as well as increasing competition in each sector due to new entrants, is expected to increase the demand for personalized packaging. Nowadays, personalized packaging is also slowly being adopted as a marketing strategy. Therefore, the growth in personalized packaging market is expected to surge in the forecast period. The change in product presentation scenario has also driven the growth of personalized packaging market to an extent. Consumers also prefer products with attractive packaging options. They get lured towards value based packaging and if gift packaging is available with a personalized touch, it adds to the overall emotional quotient of the customer. However, there are no obvious restraining factors for personalized packaging market aside from the fact that plastic use can affect the market since it has been attributed to global warming. Certain regulations prevent the use of plastic, however, new innovations in product type and packaging of boxes and labels can boost the market. Personalized packaging can ease the efforts of customers as these products can directly be gifted.
The leading market worldwide for personalized packaging is the US. North America is the market leader for personalized packaging followed by Europe and Latin America market for personalized packaging. Core companies in these regions have already introduced personalization in various forms of packaging. Personalized packaging is still in an introductory phase in Asia Pacific and Middle East & Africa. Generally, there are very few public limited companies and this market has many small private companies. Local players also are very active in this market. Make it Personalized, Essentra, CWS Packaging, 4imprint are some of the companies which offer personalized packaging solutions.
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