The global sales of promotional packaging are estimated to be worth USD 313.5 million in 2021 and are anticipated to reach a value of USD 480 million by 2031. Sales are projected to rise at a CAGR of 4.4% over the forecast period between 2021 and 2031. The revenue generated by promotional packaging in 2020 was USD 300 million.
The driving force for promotional packaging comes from increasing focus on brand differentiation and consumer engagement, where companies look forward to innovative packaging solutions that make them different in the competitive marketplace. Increased promotional campaigns and the launch of limited edition products result in higher demand for eye-catching and customized packaging designs.
Technological advancement in printing and packaging material allows for increased graphics and interactive features that catch the attention of consumers. Moreover, the focus on sustainability and environment-friendly materials is reflected in packaging decisions that also appeal to a consumer base interested in greening their products.
Growth in e-commerce and direct-to-consumer sales channels will further support demand for effective promotional packaging. The expansion of world markets and more competitive retail environments adds to the pressures toward demanding creative and effective packaging solutions.
Global Promotional Packaging Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 300 million |
| Estimated Size, 2021 | USD 313.5 million |
| Projected Size, 2031 | USD 480 million |
| Value-based CAGR (2021 to 2031) | 3.8% |
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Promotions packaging are one of the most significant aspects of the marketing of a product. Packaging has recently become a prominent impacting the sales of any product. Promotional Packaging is classified as a promotion because it aids in drawing attention to the product.
Additionally, when contemplating the importance of promotion packaging, manufacturers critically consider the consumer's wants and needs. As the primary purpose of every product is to attract people and encourage them to purchase it.
Another crucial feature of promotional packaging is how it promotes and shows the product within. On the packaging of various products, particularly food products, nutritional information and ingredient descriptions are included. Another product packaging, on the other hand, may include instructions on how to set up and utilize the device.
The above factors influence the sales of any product to a higher extent hence manufacturers are focusing on promotional packaging to gain a higher share in the market.
The market for promotional packaging is expected to continue to grow in North America. As a result of the region's top manufacturers are providing their vast size and range of products, hypermarkets in the USA and Canada attract a great number of customers. Were these displays attract consumer’s attention due to their unusual and vibrant designs, and consequently play an important role in the purchase decision process.
Moreover, this opens up options for brand managers to communicate a marketing message to consumers using promotional packaging. The primary tool for conveying marketing messaging and gaining high traction in the market is promotional packaging solutions.
Principal Consultant
Promotional packaging is expected to be a dominant market in Europe, as the region is constantly demanding convenient and clean label packaging solutions, while the vegan population in the region is constantly demanding more information on any product packaging.
Moreover, promotional packaging is helping attract customers by the information provided, colours used or crucial information like disposable, environment friendly. Hence manufacturers of various products are opting for promotional packaging which is directly helping the promotional packaging market to grow exponentially in the region
Some key manufacturers operating the business in the promotional packaging market globally include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Promotional Packaging Market
