Combination Packs Market: Introduction
Manufacturers and brand owners around the world are seeking innovative ways to provide complementary and multiple product categories through singular packaging formats. Combination packs provide manufacturer and suppliers a flexible solution to cater different end use segments. Combination packs are popularly used in packaging of chemicals, cosmetics and pharmaceutical products. Ease and convenience in safe transport of hazardous chemicals for multiple container formats has supported the growth of global combination packs market.
Combination Packs Market: Segmentation
The global market for combination packs is segmented on the basis of product type and end use.
On the basis of product type the global market for combination packs is segmented as follows:
- Blister Packs
- Folding Cartons
- Corrugated Boxes
On the basis of end use the global market for combination packs is segmented as follows:
- Food & Beverages
- Hazardous Chemicals
- Cosmetics and Personal Care
- Homecare and Toiletries
Combination Packs Market: Market Dynamics
The global market for combination packs is characterized by supply of packaging formats such as corrugated cases and cartons, folding cartons, plastic bottles, blister packs, etc. The market for combination packs is witnessing the emergence of packaging formats fabricated through thermoforming technology. Packaging manufacturers with thermoforming capabilities are supplying combination packs with custom or bespoke designs and functionalities.
Thermoforming technology allows manufacturers to customize packaging solution. Combination packs incorporated with customization features are expected to find lucrative market opportunities over the forecast period. In May 2017, pharmaceutical manufacturer Novartis Pharmaceuticals Corp. developed combination pack for its product Kisqali Femara. The combination pack provides solution for packaging of advanced breast cancer prescription products. The packaging design allows Novartis to employ the solution for varying dosages.
In 2014, packaging manufacturer Ecobliss received recognition for innovation in blister carton combination pack. The combination pack developed by Ecobliss constitutes a box shaped blister pack wherein the glued flaps are eliminated. The combination pack provides features of blister packaging and also of a folding carton. The combination pack developed by the company caters to packaging of healthcare products including prefilled syringe, needles, water bottled injection suspension, etc.
Combination packs have emerged as an effective packaging solution in the North America pharmaceutical packaging market. Innovation by manufacturers in the North America and Europe region is expected to spread across the Asia Pacific and GCC market due to shift in focus by multinational packaging manufacturers towards emerging markets
Apart from pharmaceutical and healthcare packaging, combination packs are expected to continue new applications into varied end use segments such as food and beverages, cosmetics and personal care, homecare, etc. Cosmetics and personal care end use segments are expected to register considerably high CAGR over the forecast period, 2017-2027 as manufacturers and brands innovate in terms of product offering.
Manufacturers and brand owners operating in the cosmetics and personal care segment are developing ways to provide multiple product categories through innovative packaging formats. Combination packs provide manufacturer and suppliers effective and flexible solution to cater to application in consumer products packaging. Combination packs also provide ease and convenience in safe transport of hazardous chemicals through complex supply chain processes.
Combination Packs Market: Regional Outlook
The Combination Packs market is segmented into 7 key regions including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ) and Japan.
Global Combination Packs Market: Competitive Landscape
Some of the players operating in the Combination Packs market include Nelson Container Corporation and Ecobliss Holding BV. The global market for combination packs is expected to witness entry of multinational as well as domestic packaging manufacturers over the forecast period, 2017-2027.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.