Packaging is one of the fastest growing industries that is in continuously changing according to demand from end users and consumers. Packaging not only represents the indent of a brand or company, but doubles as a means of offering consumers information and messages regarding various aspects of a product or brand. Highly visible packaging allows a company to differentiate its products from that of competitors in the market, and also helps to increase visibility owing to features such as attractiveness etc.
In the food industry, packaging is required to carry information pertaining to health benefits and ingredients used, method of preparation in order to reinforce the hygiene aspect, besides displaying details such as manufacturing date, shelf-life period etc. These details serve to reinforce purchase decision, and is also supported by offering food products in highly visible packaging, thus enabling contents of the package to be seen before a purchase is made. The reason highly visible packaging is gaining popularity worldwide, is because it allows easy authentication of particular brands and product differentiation. In addition, ability to be produced with certain durable properties such as tamper-proof and highly protective covering makes it a lucrative option for product manufacturers, and indirectly for consumers.
Packaging considered as highly visible include blister packaging, skin packaging, clamshell packaging, windowed packaging, shrink wrap packaging, plastic container packaging, glass container, and others.
The advantages offered by highly visible packaging are the main factors fueling demand for such products. This packaging enables efficient preservation and protection of products, besides offering convenience to customers to be able to make a purchase decision on the basis of what they see. This way, it not only helps customers in being selective, but also enables food production companies to maintain the competitive edge in the market. Conveying the proper information about products and legitimately communicating the brand image are some of the other main features that differentiate highly visible packaging from other types of packaging. These advantageous properties are the main factors expected to fuel growth of the highly visible packaging market in the near future.
Innovation in highly visible packaging technology and growing awareness among end-users are factors also significantly driving market growth and this market is expected to account for substantially high revenue growth over the forecast period.
However, relatively high capital expenditure of this type of packaging technology currently is resulting in hesitation among manufacturers to invest in setting up this technology. This factor is expected to act as a restraint for growth of the highly visible packaging market over the forecast period.
The global highly visible packaging market is segmented on the basis of types and regions. The product type segment is categorized into blister packaging, clamshell packaging, skin packaging, windowed packaging, shrink wrap packaging, plastic container packaging, glass container packaging, and others.
Geographically, the global highly visible packaging market is segmented into seven main regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. Due to higher consumer awareness, North America is expected to hold largest market share in the global highly visible packaging market, followed by Europe gaining market share by the end of 2016. Asia Pacific region is expected to witness maximum growth in consumption of highly visible packaging during the forecast period, on account of rising awareness, increasing consumption of consumer products, and increasing population.
Some key players in the global highly visible packaging market are Amcor, Bemis, MeadWestvaco, Sonoco Products, Mondi Group, Reynolds Group Holdings Limited, Rohrer Corporation, Bayer AG, Anchor Packaging, Imex Packaging, and others.
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.