by Packaging design services involve the planning and designing of packaging for various products so as to attract customers. Packaging plays a pivotal role in differentiating products from competitors and informs customers about product features and benefits. It ensures safety of products during transportation and storage.
The global Packaging Design Services Market is estimated to be valued at US$ 24.63 billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Today’s customers are more likely to purchase products that come in attractive and innovative packaging. Packaging design plays a crucial role in grabbing the attention of customers at the point of purchase. The key trend governing the packaging design services market is the need for unique and visually appealing packaging among brands. Packaging designers create designs that connect emotionally with customers and communicate the core values of brands. Sustainable and environment-friendly packaging is also a major design trend as companies now focus on reducing plastic usage and opting for recyclable materials. Digitalization has further enabled packaging designers to utilize virtual and augmented reality for simulating the look and feel of designs before manufacturing. This allows evaluating designs efficiently and eliminating errors at the production stage.
SWOT Analysis
Strength: Packaging design services providers have skilled workforce and capabilities to design visually appealing, innovative and sustainable packaging solutions that help brands differentiate in the market.
Weakness: High costs associated with hiring experienced designers and employing latest design technologies. Limited innovation capabilities of some local players.
Opportunity: Growing demand for customized and personalized packaging from various end-use industries especially food and beverage sector. Packaging is increasingly being used as a marketing tool.
Threats: Intense competition among designers. Supply chain disruptions during pandemic can delay projects.
Key Takeaways
The Global Packaging Design Services Market Size is expected to witness high growth.
Regional analysis: North America region currently dominates the market due to presence of leading packaging design service providers. The Asia Pacific region is expected to grow at fastest pace due increased production and exports of packaged foods and beverages from China, India, Japan and other developing nations
Key players related content comprises Key players operating in the Packaging Design Services market are Elgo Irrigation Ltd., Netafim Ltd., Eurodrip SA, Jain Irrigation Systems Ltd., Hunter Industries, Inc., The Toro Company, and Rain Bird Corporation.. Major packaging design service providers focus on adoption of latest design technologies like virtual & augmented reality to provide innovative packaging solutions. They also explore sustainable packaging trends and design packages using eco-friendly materials to meet evolving brand and regulatory requirements.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
