DUBLIN--(BUSINESS WIRE )--The "Packaging Design Services Market By Material, By End User, By Design Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The packaging design services market was valued at $21,918.6 million in 2020, and is expected to reach $31,938.2 million by 2030, registering a CAGR of 3.7% from 2021 to 2030.
Packaging design involves a process of connecting different components. It provides connection of typography, regulatory information, materials, imagery, colors, form, and structure with the ancillary design elements. This makes product suitable for marketing purpose.
Advertising and product development are some of the key factors that drive the packaging design services market. Advertisement and product development lets the companies to innovate their product. In addition, it lets the companies to offer variety of packaging styles, color combinations, and material pattern.
Advertising products provide useful information about the product. In addition, it helps in providing useful information. Customers are drawn to packaging that provides them simple access to product facts. For instance, more than 70% of purchasing choices are made in-store based on packaging and information provided. Moreover, the protection of the interior goods is another element that drives the growth of the market.
A product travels hundreds of thousands of miles before reaching clients. It gets delivered through the roadways, railways, rivers, or aircraft. Distinct modes of transportation necessitate different packaging and protection of the goods within the packaging industry, which demand for durable packaging solutions. Hence, this drives the use of durable packaging design for shipping applications.
However, innovation in packaging materials, change in packaging processes, and new packaging machineries required are the factors that limit the growth of the market. Customers' demand for eco-friendly packaging, as well as the upgraded or innovative packaging machines has grown.
This is impeding the growth of small-scale industries that are unable to absorb the costs of upgrading or using new materials. This is due to newer investments in materials and machines. The best chance for growth in packaging design services is in the E-commerce industry. Hence, various small-scale companies find it difficult to afford newer machines and wastage of older materials.
On the contrary, ecommerce industry has grown at a rapid pace with years. It is effective in reaching clients at every nook and cranny of the globe. Hence, it is necessitating the use of specialized packaging to keep the product safe inside the package till it reaches the customer. In addition, various e-commerce companies have expanded their same-day delivery options for clients in various regions.
For instance, Amazon introduced its same-day goods delivery feature for additional regions in the U.S. in August 2021. Furthermore, many developing countries, such as India and China have gained access to the feature of same-day product delivery. Thus, this is providing more convenience to the customers, which in turn, is anticipated to offer lucrative opportunities for the packaging design services market.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900