The Global Display Packaging Market is garnering substantial traction. The market witnesses increasing demand for packaging that can boost sustainability. The continually rising demand for lightweight, curbside recyclable, easy-to-open, and shelf-ready packaging solutions contribute to the market growth. Growing pressure to reduce operational costs is another major factor pushing the display packaging market value.
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Increased product categories in different application segments, especially consumer packaging, create considerable market opportunities. Besides, the growing adoption of next-gen on-demand packaging automation that can offer a connected automation platform substantiate the market size, securely communicating performance data and support to help optimize production lines.
With the growing developments of proprietary packaging solutions, the market is projected to perceive exponential gains in the next few years. According to Market Research Future (MRFR), the global display packaging market is expected to reach a significant valuation by 2027, registering a colossal CAGR during the anticipated period (2020 – 2027).
Increasing investments by industry players to develop a paper-based substrate to replace the mass use of flexible packagings, such as plastic and bubble mailers, to respond to consumers’ shifting preference for sustainable packaging boosts the market shares. The emergence of retail-ready and display-ready boxes has been impacting the market growth positively.
Additionally, factors such as increasing trends in local, regional, and international markets, the need for a wide range of transport modes optimized total cost of ownership (TCO), and relentless competition and margin pressures bolster the market growth. Other key industry trends include high awareness for the availability of a wide range of temperature-controlled packaging solutions.
The COVID-19 outbreak severely hit the display packaging market industry, causing huge revenue losses. The lockdown mandates halted the production of several key raw materials in the global market, resulting in spiked prices and lowered demand for display packaging. Though the demand for pharmaceutical products was significantly high amid the pandemic, the industry underwent a huge dip.
Industry players faced problems ranging from attracting workers from quarantines to obtaining raw materials required to produce and deliver end products. However, the display packaging market is rapidly returning to normalcy, witnessing the steadily increasing display packaging market shares. The high consumption of smart packaging solutions is rising continually due to increased manufacturing activities and demand for storage and distribution applications, likely to offer robust market opportunities.
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The report is segmented into type, end-use, and regions. The type segment is sub-segmented into corrugated pallets, cellulose fibers, corrugated paper board sheeting, and others. The end-use segment is sub-segmented into retail and pharmacy. The region segment is sub-segmented into Asia Pacific, North America, Europe, and the Rest-of-the-World.
The Asia Pacific region dominates the global display packaging market. Factors such as the growing demand for good-quality packaged food and population in many countries across the region drive the market growth. Besides, rapid economic growth and an increase in consumer income in the region foster the market size. The increase in food beverage consumption has ultimately led to increasing the demand for display packaging products.
Additionally, the strong presence of key packaging vendors, such as Glama Pak and Grant Austin Display Packaging in the region, impacts the market growth positively. The spurring rise in the retail and pharmacy industries in the region substantiates the market shares. Also, impressive urbanization fosters market growth, driving the household product industry.
The display packaging market witnesses several strategic initiatives, such as collaboration, mergers acquisitions, expansion, and product/ technology launches. Key industry players invest substantially in driving their research and development activities and expansion plans.
Given the consumer demand for sustainable packaging on the rise, display packaging solution providers strive to design products that enhance the direct visibility and longevity of products. They look for new ways to bring innovative solutions to customers.
For instance, recently, on Sep. 17, 2021, Ynvisible Interactive Inc, a leading IoT market, announced its partnership withpragmatic semiconductor, a leader in flexible electronics for services and deliverables focused on fully integrated flexible display modules. Ynvisible’s printed electrochromic technology is ideal for smart packaging and display applications, enabling sustainable ultra-low-power displays in novel thin and flexible form factors.
Key players active in the market are International Paper (US), DS Smith Plc. (UK), Mondi Plc. (Austria), Sonoco Products Company (US), Smurfit Kappa Group Plc. (Dublin), Deufol SE (Germany), Grant Austin Display Packaging (South Australia), CB Display Packaging Inc. (Canada), and Excel Displays Packaging (US), Glama Pak (Australia), among others.
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