New York, United States , July 24, 2023 (GLOBE NEWSWIRE) -- The Global Packaging Design Services Market Size is to grow from USD 22.17 billion in 2022 to USD 33.78 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period. The Packaging Design Services market is being driven by increased online retail revenue, increased consumer desire for visually appealing and instructive packaging, and the requirement for strong advertising and distinction.
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Packaging is a critical marketing sector since it boosts sales while also reinforcing brand familiarity and the purpose of the product. Packaging design is the process of creating anything on the outside of a product that a buyer would buy in a store or online. Packaging design services also refer to the expert and creative solutions provided by design organizations or individuals to create visually appealing and efficient product packaging. Among the services provided are designing concepts, designing graphics, the conceptualization of structures, material selection, and artwork creation. As a result, packaging design becomes an important aspect in this context. Because of rising customer demand and environmental concerns, the packing design service industry is focusing more on environmentally friendly packaging design. Designers have used clean designs with simple layouts, minimalist fonts, and subtle branding aspects to create an aesthetically pleasing and cutting-edge package style. Furthermore, the rapid expansion of e-commerce has transformed the retail industry and had a significant impact on the packaging industry.
Browse key industry insights spread across 210 pages with 130 Market data tables and figures & charts from the report on the, "Global Packaging Design Services Market Size, Share, and COVID-19 Impact Analysis, By Design Type (Packaging, Label), By Material Type (Paper & Cardboard, Polymer, Metal, Glass, Wood, Others), By End-Use Industry (Automotive, Food & Beverage, Pharmaceutical & Healthcare, Consumer Goods, Personal Care & Cosmetics, Electronics, E-commerce, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032 "
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The label segment is expected to dominate the market with the largest revenue share over the forecast period.
On the basis of design type, the global packaging design services market is segmented into the packaging and label. Among these, the label segment is expected to dominate the market with the largest revenue share of 38.6% over the forecast period. Labels represent an essential role in the goods packaging design services industry because they have a considerable impact on the final design, look, efficiency, and brand communication of the packaging. Different label kinds provide distinct benefits and are tailored to individual product requirements, consumer preferences, and industry laws.
The paper & cardboard segment is witnessing significant CAGR growth over the forecast period.
On the basis of material type, the global packaging design services market is segmented into paper & cardboard, polymer, metal, glass, wood, and others. Among these, the paper & cardboard segment is witnessing significant CAGR growth over the forecast period. Cardboard and paper products are popular among environmentally conscious organizations and customers because they are environmentally benign, recyclable, and long-lasting.
The food & beverage segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of end-use industry, the global packaging design services market is segmented into automotive, food & beverage, pharmaceutical & healthcare, consumer goods, personal care & cosmetics, electronics, e-commerce, and others. Among these, the food & beverage segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Packaging design services are important in the food and beverage sector because they enable brands to produce appealing, practical, legally binding, environmentally friendly, and appealing packaging options.
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Europe dominates the market with the largest market share over the forecast period.
Europe is projected to dominate the market with an estimated share of more than 38.7% during the forecast period, owing to a significant amount of technological advancement and a design-driven strategy adopted by the packaging sector. North America, on the contrary, is expected to grow the fastest throughout the forecast period due to factors such as a well-developed packaging sector, the presence of substantial consumer goods businesses, and a greater emphasis on product marketing and brand awareness. During the forecast period, the Asia Pacific market is expected to rise at a rapid CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Packaging Design Services Market include Design Packaging, Inc., TricorBraun Inc., Ruckus Marketing, LLC, Pulp+Wire, Crown Holdings, Inc., La Visual Inc., Arhue, Forever Sincretix, Murmur Creative, Gerresheimer AG, The Netmen Corp., DEI Creative, KushCo Holdings, Inc., Tank Design, Schawk, Inc, Packaging Corporation of America, PaperWorks Industries, Inc., Tetra Pak International S.A., and among others.
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Recent Developments
On June 2023, Mayville Engineering Company, Inc., a leading value-added provider of design, prototyping, and manufacturing solutions to a wide range of end markets, announced a definitive agreement to acquire privately held Mid-States Aluminum Corp. ("MSA") for approximately $96 million, subject to customary adjustments. MSA provides design, engineering, extrusions, fabrication, anodizing and finishing, assembly, and packaging as value-added services. MSA has worked with major OEMs in the Building & Construction, Recreational, Medical, Agriculture, Transportation, and other industries.
On January 2023, Oliver Inc. purchased Tap Packaging + Design, a custom folding carton maker that serves customers in the food and beverage, beauty products, confection, health and wellness, and consumer goods markets. Tap Packaging, based in Cleveland, Ohio, will continue to provide innovative packaging solutions from its current site. Oliver Inc. will be able to extend its product range and strengthen its position as a significant independent specialty packaging provider as a result of this collaboration.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Packaging Design Services Market based on the below-mentioned segments:
Packaging Design Services Market, Design Type Analysis
- Packaging
- Label
Packaging Design Services Market, Material Type Analysis
- Paper & Cardboard
- Polymer
- Paper
- Metal
- Glass
- Wood
- Others
Packaging Design Services Market, End-Use Industry Analysis
- Automotive
- Food & Beverage
- Pharmaceutical & Healthcare
- Consumer Goods
- Personal Care & Cosmetics
- Electronics
- E-commerce
- Others
Packaging Design Services Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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