Wraparound Market: An Overview
The increase in product ranges offered at retail outlets leads to stiff competition among various market players. Closed corrugated boxes are not considered to be good for displaying the products, to extemporize the display of the products in retail outlet, an innovative method was introduced Smart Display Packaging that includes wraparound. Wraparound has transformed the corrugated boxes from its traditional function of transport to add the functionality of display at the retail outlet that has added a sales promotion. Wraparound has a unique property that not only saves labor costs but also saves time for opening the corrugated boxes and for displaying on the retail outlet. Wraparound has given additional sales promotional advantages as well as better product visibility to gain traction among the customers visiting stores.
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Wraparound Market: Dynamics
Wraparound packaging has solved the problem of space, as wraparound packaging is smaller in size through compressed packaging. Wraparound requires a lesser amount for its packaging and thus improves pallet stacking efficiency. Product display is directly relational to the purchase of the product at the retail outlet. Wraparound packaging gives a more attractive representation of the products. Wraparound packaging is anticipated to be in demand in the regions which have a scarcity of space, especially in the Asia-Pacific market. The cost of manufacturing corrugated boxes has been increasing over the years and wraparound packaging would help the manufacturers to reduce overall cost significantly. The special feature of ready to sell packaging of wraparound reduced waste and replacement cost. Due to the discount pressure in the retail market, in order to intensify its overall profit margin, it is often suggested to use product display options on less labor-intensive by opting wraparound packaging solutions in the product ranges that have maximum demand.
The brands may opt printing on products and on wraparound packaging to customize the designs for short-run sales promotions to be out of box among its competitors. The E-commerce industry has adopted the wraparound packaging for feasible delivery through the retail outlet. As has been observed in many cases, the delivery of the online ordered product is offered by the nearest retail outlet making the packaging easy and convenient. The major advantages of wraparound packaging are: it is more product precise adjustment than the standard box used that consumes more space and protects the consignment during the transit. The market is demanding recyclable product, wraparound is a 100% recyclable product. Wraparound packaging is helpful in the self-promotion of the product and increases awareness in the existing and new markets.
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Wraparound Market: Segmentation
Globally, Wraparound market segmented into many subsets.
- 0.8mm to 1.6mm
- 1.6mm to 3.2mm
- 3.2mm to 5mm
- 5mm and above
By End Use Industry
- Shipping & Logistics
- Food & Beverages
- Manufacturing & Warehousing
- Healthcare & Pharmaceuticals
- Cosmetics & Personal care
Wraparound Market: Regional Outlook
The countries of the Asia Pacific and Latin America are anticipated to give significantly well in the market share of wraparound, due to the fact, that companies of developed economies are establishing its manufacturing units in the above-mentioned locations to meet economies of scale and add competitive advantage over its rivals. China is expected to be the world’s highest exporter and producer of corrugated boxes for packaging followed by India due to the efficient cost of its production. North America and Europe would be among the regions that would innovate the technology of wraparound. Market of wraparound packaging is anticipated to grow at the growing pace in years ahead.
Wraparound Market: Key Players
The leading companies operational in the Wraparound market are Rengo Co., Ltd., MESPACK SL, Crown Technologies, CS Packaging, Inc., Easternpak, Napco National, Cargo International Packagings among others and many indigenous and unorganized companies are likely to give to the worldwide wraparound market in the latest upcoming years.
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
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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:
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Below is a snapshot of these quadrants.
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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.
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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?
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