Exterior Packaging Market is driven by Rising disposable income which has led to increase in consumer power
Exterior Packaging refers to any packaging used for enclosing or protecting products for distribution, storage, sale, and use. However, it does not include interior packaging such as Internal Pouches, Pillow Packs etc. which in turn are used as a compliment to exterior packaging to enhance protectiveness and does not contribute to aesthetics, thus governing purchasing decisions. The availability of variegated type of exterior packaging is the most prominent driver fuelling revenues in the global exterior packaging market.
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The global exterior packaging market is expected to expand with an impressive CAGR over the forecast period.
Exterior Packaging Market: Drivers & Restraints
The major factors boosting the growth of Exterior Packaging Market is rising disposable income which has led to increase in consumer power, and has directed the modern consumerism, which includes product packaging and the need to transport products safely with good control during handling. As Exterior Packaging is a sure attention getter in the marketplace due to its front printed appearance, demand for the product due to its aesthetic look in another driver for the global Exterior Packaging market. Apart from this, the customization Exterior Packaging offers as per the packaging and handling needs is also an added advantage for various companies to adopt Exterior Packaging for all packs irrespective of the sizes.
Trends in the market include shift towards packaging which takes less production times and is significantly light weight, to offer logistic cost benefits. Further environmental effects of many packaging materials is restraining the demand for those materials, and companies are shifting towards organic based packaging. The availability of variegated type of exterior packaging options for one product, is a significant driver for the market, as it pushes companies to often shift from one packaging to other, based on consumer preferences, environmental regulations and cost effectiveness.
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Exterior Packaging Market: Market Segmentation
The Exterior Packaging market is segmented into three parts on the basis of its type, usage type, material and end use.
Based on Type, the Exterior Packaging Market is segmented into:
Based on Material Type, the Exterior Packaging market is segmented into:
Based on usage type, the Exterior Packaging market is segmented into:
Bases on end use industry, the Exterior Packaging market is segmented into
Electrical and Electronics
Food and Beverages
Healthcare and Pharmaceuticals
Exterior Packaging Market: Regional Outlook
Geographically, Exterior Packaging market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Asia Pacific Exc. Japan has been a global leader in Exterior Packaging market, due to high demand for consumer goods, particularly in across all industry verticals inclusive of automotive components, food and beverages, pharma or retail and regions existing high preference for polythene based products. The aesthetic look and safety features has led many North American and Western Europe based players to switch packaging of their normal products towards different Exterior Packaging. However stringent environment regulation in these countries is leading regional companies to adopt costlier but environment friendly solutions. Now a days, one can find applications of Exterior Packaging in almost every area, and products carrying these packets can be seen in every super market store in North America. In Western Europe, many industrial, hardware, pharmaceutical, F&B and nutraceutical products have adopted Exterior Packaging, thus, fuelling more demand for such packaging. Latin America is another prominent consumer market with a vast consuming population, also the products in the region often require long logistics and transportation efforts, thus heavy duty poly bags are gaining wide acceptance in the region. Middle East and African markets are also executing high adoption rate for Exterior Packaging, amid high preference for plastic based packaging in the region.
Exterior Packaging Market: Key Players
Some of the players identified in Global Exterior Packaging market are:-
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