Global Bespoke Packaging Market: Overview
The growth of the global bespoke packaging market is likely to be influenced by the increased demand for premium packaging solutions for different types of apparel. In addition to that, growing adoption of high quality raw material and paper and paperboard packaging is likely to augur well for the market. There has been a widening scope of application for bespoke packaging solutions amongst its end users, such as cosmetics, aerospace, defence, and various other industries. This factor is estimated to fuel growth of the global bespoke packaging market over the timeframe of analysis, from 2020 to 2030.
This kind of packaging solution comes with several benefits, such as flame resistance, anti-static, and Ultraviolet (UV) stability, which is likely to drive its demand amongst various manufacturing companies. In addition to that, technological progress made in the field of printing is likely to open up plethora of opportunities for the development of the global bespoke packaging market over the period of projection, from 2020 to 2030.
The global bespoke packaging market has been classified based on three significant parameters, which are type, application, and region. Such segmentation offers better insight into the market.
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Global Bespoke Packaging Market: Notable Developments
The global bespoke packaging market has experienced some path-breaking, important developments over the last few years.
- In February 2020, US-based provider of high quality flexible packaging solutions, Liqui Box Corporation, has made acquisition of the Plastics Division of DS Smith plc, UK-based packaging business. The acquired Plastics Division comprises both flexible and rigid packaging businesses. With this acquisition, Liqui Box Corporation will be able to have wider reach in the UK and diversified product portfolio.
Some of the prominent companies in the global bespoke packaging market are mentioned below:
- Mayr-Melnhof Karton AG
- Stevenage Packaging Limited
- Kolbus GmbH & Co. KG
- Gatto Astucci SpA
- Liqui Box Corporation
- McLaren Packaging Limited
Global Bespoke Packaging Market: Key Trends
The global bespoke packaging market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
High Demand from E-commerce and Brick-and-Mortar Businesses to Augur Well for the Market
In the packaging business, cartons and boxes account for a large chunk of the global bespoke packaging market and are likely to remain one of the leading end user for the said market throughout the period of assessment. High demand for kids’ products and luxury footwear is likely to generate augmented demand for bespoke packaging solutions. This form is no more “Just a Box” and it estimated to transform the packaging industry in the years to come.
Consumer-centric packaging has gained momentum in the brick-and-mortar as well as E-commerce businesses. Focus on consumers is likely to bring on colossal changes in the space of bespoke packaging. At the same time, massive progress made in the field of Internet of Things (IoT), sensors, and digital printing is likely to open up new scope of opportunities for the development of the global bespoke packaging market over the tenure of analysis, from 2020 to 2030.
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Global Bespoke Packaging Market: Geographical Analysis
Europe is estimated to offer huge growth opportunities for the global bespoke packaging market and is likely to remain one of the prominent regions in the said market throughout the analysis period, from 2020 to 2030. High demand for this kind of packaging from the cosmetics and personal care sector is likely to augur well for the regional market. In addition, confectioneries and tobacco companies are also venturing into this kind of packaging solution so offer more personalized services to the customer. Riding on the back of these factors, the bespoke packaging market is likely to observe high growth in Europe in the near future.
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.