Global Display Packaging Market, By Type (Cellulose Fibers, Corrugated Pallets, Corrugated Paper Board Sheeting, Others, by end use (Retail and Pharmacy) and Region – Forecast 2017-2023
Synopsis of Display Packaging Market
Packaging has a significant impact on the efficiency and effectiveness of retail supply chains, where improvements can be achieved through the adaptation and development of the concept of packaging logistics. Display packaging, also called luxury packaging, is used to pack products for increasing their aesthetic value by adding innovative packaging designs and packaging solutions. It combines the strengths and characteristics of secondary and promotional packaging to maximize the visibility and accessibility of a product in a retail environment. It is also known as the packaging provided to retailers by the manufacturers in a ready-to-sell form. In contrast to typical shelving, display packaging offers certain evident advantages, which make it useful, especially for a targeted marketing campaign, or for the launch of a new product.
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The Global Display Packaging Market is expected to have a CAGR of 7.02% by the end of forecast period.
Display packaging eliminates the requirement for packing and repacking of the products when it is being placed for sale on the retail shelf. It offers an effective means of showcasing a particular product and is often used during a special promotion period. The major driver for the global display packaging market is the regulations and stringent government legislations that are is forcing the manufacturers to choose display packaging options over the conventional packaging. Display packaging, being an environment friendly packaging option, has gained enough consumer preference to be used as a marketing tool. An innovative printed display packaging enhances the visibility of the brand, and a high-quality display packaging increases the in-store retail experiences of the customers. Luxury brands are keen to maintain their brand name and polish their brand identity wherever possible on a global scale. As per the recent trend analysis, paperboard is the most popularly used material in packaging. Some of the other materials used popularly include glass, metal, plastic, wood, textiles, and leather. Most of these materials used are easily procured, and they help establish a sense of premium quality in the minds of customers.
The major opportunity for the global display packaging market lies in reducing the operational cost of recycling and collection of packaging. Another major opportunity for the global display packaging market is to increase the product categories in different application segments, especially, in consumer packaging segment.
Display Packaging Market Regional Analysis
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 its dominance over the forecast period. The Asia Pacific market is expected to witness maximum growth rate in the global display packaging market. Moreover, increase in consumer income has led to the 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 of 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 will boost the market growth.
Key Players
The major player operating in the market of global display packaging are DS Smith Plc. (U.K.), International Paper (U.S.), Mondi Plc. (Austria), 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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