Soaring demand from various industries for customized packaging has boosted the growth of the personalized packaging market. Manufacturers are increasingly using personalized packaging for creating their brand image among the end users. Commonly, secondary packaging is altered for creating the unique identity of the products or brands in the market. Apart from improving the aesthetic appearance of the product, personalized packaging is used for safeguarding the product during transit by customizing the packaging according to the dimensions of the product. While established players have already set remarkable trends through innovative packaging solutions, emerging companies are also foreseen to adapt to evolving trends in the global customized packaging market.
Rising consumer disposable income, especially in APAC region, is observed to be responsible to increase the demand for luxury packaging and positively influencing the growth in the personalized packaging market. Manufacturers in the region are expanding their capabilities and production capacity in order to amplify the footprint in the steadily growing market. Increasing penetration of e-retail format across the globe is also supporting the growth since the past decade. Over the past few years, carbonated beverages have seen a decline, however increasing consumption of bottled water across the globe may bring in several opportunities.
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Growing need for customization in packaging for ensuring the safety of the product is generating the demand to a large extent, which is further strengthened by growing international exports and imports. Maintaining safety during transportation of products has gained immense importance, paving the way for the growth of the personalized packaging market. Personalized packaging manufacturers are mainly emphasizing on expanding footprint through strategic mergers and acquisitions, thereby enhancing their product portfolio and quality. A growing number of brand owners are preferring personalized packaging over conventional, attributed to the need for creating a brand image amidst stiff competition in the market.
By material type, the paper and paperboard segment is expected to hold the largest volume share, however, by value plastic segment is expected to remain dominant in the market. The glass segment is expected to be the fastest-growing segment of the material type in the personalized packaging market. By packaging type, the bottle segment is expected to dominate with the largest value share and with the increasing use of flexible packaging, bags and pouches are expected to represent the most attractive segment. By end use, beverages segment is estimated to contribute over 50% of the market share of the global personalized packaging market.
The APAC region is estimated to account for the largest share in personalized packaging market on the backdrop of high concentration of the packaging manufacturers and rise in disposable income of the consumers. North America is expected to trail the APAC region in personalized packaging market as the region has highest per capita consumption of packaging. The MEA region is estimated to contribute small but rapidly growing market share in personalized packaging market. Growth in personalized packaging market in Latin America region is expected to be moderate during the forecast period.
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Few of the key players in the global personalized packaging market include Owens Illinois Inc., Salazar Packaging, Inc., Design Packaging, Inc., PrimeLine Packaging, International Packaging Inc., Elegant Packaging, Pak Factory Inc., ABOX Packaging, ACG Ecopak, CB Group, SoOPAK Company, Huhtamaki Oyj, The Mondi Group plc., Smurfit Kappa Group, Glenroy Inc. and ProAmpac LLC.