Packaging Design Services Market to Reach $31.9 Billion Globally by 2030 at a CAGR of 3.7%: Allied Market Research
Packaging with product information helps customers make decisions that is driving the growth of the global packaging design services market.
PORTLAND, Oregon., May 16, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Packaging Design Services Market By Material (Polymer, Paper, Metal, Glass, Wood), By End User (Food, Beverages, Healthcare, Cosmetics, Electronics, Others), By Design Type (Packaging, Label ): Global Opportunities Analysis and Industry Forecast, 2020-2030″. According to the report, the global packaging design services industry generated $21.9 billion in 2020, and should generate $31.9 billion by 2030, with a CAGR of 3.7% from 2021 to 2030.
Main determinants of growth
Advertising by design helps brands to increase sales of the product. Packaging with product information helps customers make decisions. For example, more than 70% of purchasing decisions are made in-store based on packaging through the information provided. This, in turn, is driving the growth of the global packaging design services market. However, old packaging machines are hampering the growth of the market. On the other hand, the growth of e-commerce industries presents new opportunities in the coming years.
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- The outbreak of the Covid-19 pandemic has negatively impacted the growth of the global packaging design services market, owing to the implementation of the global lockdown.
- The construction, manufacturing, hospitality and tourism industries were heavily impacted, due to the temporary shutdown of manufacturing activities. Construction and transportation activities, and their supply chains, have been hampered globally. This has led to decline in the manufacturing of packaging design services market along with their demand in the market, thereby limiting the growth of the market.
- However, the market will recover soon in 2022.
The Polymers Segment to Maintain Its Leading Status Throughout the Forecast Period
Based on materials, the polymer segment held the highest market share in 2020, accounting for nearly three-fifths of the global packaging design services market, and is expected to maintain its leading status throughout the period. forecast. This is due to the large-scale use of plastic in the packaging industry. However, the paper segment is expected to show the highest CAGR of 4.6% from 2021 to 2030, owing to the surge in demand for sustainable packaging solutions.
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The food segment to maintain its leading position during the forecast period
On an end-user basis, the food segment accounted for the largest share in 2020, contributing nearly two-fifths of the global packaging design services market, and is expected to maintain its leading position over the period. forecast. This is attributed to the highest demand for food packaging services in the world. However, the healthcare segment is expected to show the largest CAGR of 4.6% from 2021 to 2030, owing to the increase in health awareness among people across the globe.
Asia Pacific maintain dominance by 2030
Based on the region, Asia Pacific held the highest market share in terms of 2020 revenue, accounting for more than one-third of the global packaging design services market, owing to the large-scale production of food and beverages and other products in China, India and other nations in the region. However, the LAMEA region is expected to experience the fastest CAGR of 4.9% during the forecast period, owing to industrialization and urbanization in developing countries in the region.
Main market players
- DEI Creative
- Always Sincretix
- The Visual Inc.
- creative whisper
- Paste + Yarn
- Marketing Ruckus, LLC
- Tank design
- The Netmen Corp.
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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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