Market Highlights:
Packaging industry witnessed technology adoption, at large, in terms of equipment, and packaging methods, and the demand for primary packaging is stagnant. MRFR analysts conclude that Display Packaging Market will grow at a CAGR of 5.6% during the forecast period. The global display packaging market continues to grow due to the exciting trends such as the surge of personalized packaging, increasing awareness to sustainability issues, demographic and economic drivers. Prestigious luxury brands look for new packaging techniques and innovations to make their products stand out in extremely competitive shelf spaces. The packaging sales in the emerging markets are expected to continue to show strong growth, as both increased consumer consumption and demand for luxury goods, drive the need for sophisticated packaging. Display Packaging is mostly used to package highly expensive and sophisticated products. Packaging impacts the brand image of a company to a great extent. Display packaging also improves brand recall, to increase the revenue generated by the manufacturers and retailers. Display packaging market is expected to reach a CAGR of ~5.6% during the forecast period.
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Market Research Future Analysis:
Market Research Future analysis shows that the global market of display packaging market is estimated to grow with a CAGR of 7.02% by the end of year 2023.The display packaging industry has the ability to be a part of the solution since it offers packaging in different sizes; innovations that help extend the shelf life of the product, and keeps it safe. The global market for display packaging witnessed fast growth in last few years. The value share of display packaging in developed economies, such as North America, Europe and Australia, is higher than other regions, and is expected to maintain their dominance over the forecast period. The Asia Pacific market is expected to witness maximum growth in the global display packaging market. Moreover, increase in consumer income has led to growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand for display packaging products. Mostly, consumers view premium packaging as the basic indication of a high-quality product. Thus, vendors use expensive technologies, colors, and packaging techniques to develop premium packages, which is expected to boost the market growth.
Packaging plays a significant role in the buying decision process as well as it adds high value. Besides making the products incredibly appealing, display packaging prevents contamination of products and protects premium items from damages. It reduces package pilferage and increases consumer engagement. The global display packaging market can be segmented on the basis of regions as Asia Pacific, Europe, North America, and the Middle East and Africa (MEA). Asia Pacific is expected to witness fast growth during the forecast period on account of growing consumer spending in Japan and China. In Middle East and Africa, moderate growth can be expected due to expansion in the area, by global luxury product manufacturers.
Taste the market data and market information presented through more than 45 market data tables and 35 figures spread over 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Display packaging Report -Forecast to 2022”.
Key Market Players:
The prominent players in the display packaging market include DS Smith Plc. (U.K.), International Paper (U.S.), Mondi Plc., Smurfit Kappa Group Plc. (Dublin), Sonoco Products Company (U.S.), Deufol SE (Germany), C&B Display Packaging Inc. (Canada), Grant Austin Display Packaging (South Australia), Excel Displays & Packaging (U.S.), Glama Pak (Australia).
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