Packaging Design Services Market Expected to Reach $31.9 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Packaging Design Services Market," The packaging design services market size was valued at $21.9 billion in 2020, and is estimated to reach $31.9 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030. Packaging design is a type of process that is a connection of different components. It involves connection of regulatory information, typography, imagery, color, materials, structure, and form with ancillary design elements. This helps in making a product suitable for marketing.

The global packaging design services market is anticipated to grow due to factors such as advertising and product development. Product development helps in providing essential features over the product. In addition, it provides innovate features to the product. Different features such as packaging styles, color combinations, and material choice of packaging can be added through product development. In addition, effective advertising through packaging design helps in increasing sales of the products. Customers are drawn to packaging that provides quick access to product information. For instance, as per the statistics, packaging influences more than 70% of in-store purchases. In addition, need for preservation of the items inside the package is another factor that drives the growth of market. A product travels hundreds of thousands of miles before reaching its customers. It gets delivered through highways, rails, rivers, or planes. Distinct forms of transportation require different packaging and protection for the commodities inside the packaging. Hence, this is turn is drives the demand for efficient packaging design.

However, innovation in packaging materials, techniques, and new machinery are factors that limit the growth of the market. Customers' demand for eco-friendly packaging material is growing. In addition, the demand for upgraded or innovative packaging design is changing. Hence, this is impeding small-scale industries to afford newer machines and waste of older raw materials. Thus, this in turn is limits the growth of the market.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the packaging design services market growth. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.

The growth in ecommerce market is one of the factors that offers new opportunities for packaging design services. Ecommerce is rapidly growing and reaching customers in every corner of the globe. In addition, it is necessitating the usage of durable packaging to keep the product safe until it reaches the customer. In addition, several e-commerce companies have expanded their same-day delivery services for customers in different parts of the world. For instance, in August 2021, Amazon, expanded its same-day goods delivery service to new regions in the U.S. In addition, several developing countries, including India and China, are getting access to same-day goods delivery. Thus, these factors are expected to offer lucrative opportunities for the growth of the market.

The packaging design services market is segmented on the basis of type, material, design type and region. By type, the market is divided into food, beverage, healthcare, cosmetics, electronics, and others. By material, the market is fragmented into paper, polymer, glass, metals, and others. By design type, the market is divided into packaging and label.

Region wise, the packaging design services market analysis is done across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the packaging design services market share, and LAMEA is anticipated to secure a leading position during the forecast period. The major players profiled in the market include Arhue, DEI Creative, Forever Sincretix, La Visual Inc., Legnd, Murmur creative, Pulp+Wire, Ruckus Marketing, Tank design and The Netmen Corp.

KEY FINDINGS OF THE STUDY

•        The report provides an extensive analysis of the current and emerging global packaging design services market trends and dynamics. 

•        Depending on material, the polymer segment was the largest revenue generator in 2020.

•        By end user, the food segment generated the highest revenue in 2020.

•        Based on design type, the packaging segment dominated the market in 2020.

•        Region wise, Asia-Pacific is anticipated to dominate the global packaging design services market throughout the study period.

•        The global packaging design services market forecast analysis from 2021 to 2030 is included in the report.