The growth of the global bespoke packaging market is likely to be influenced by the increased demand for premium packaging solutions for different types of apparel. In addition to that, growing adoption of high quality raw material and paper and paperboard packaging is likely to augur well for the market. There has been a widening scope of application for bespoke packaging solutions amongst its end users, such as cosmetics, aerospace, defense, and various other industries. This factor is estimated to fuel growth of the global bespoke packaging market over the timeframe of analysis, from 2020 to 2030.
This kind of packaging solution comes with several benefits, such as flame resistance, anti-static, and Ultraviolet (UV) stability, which is likely to drive its demand amongst various manufacturing companies. In addition to that, technological progress made in the field of printing is likely to open up plethora of opportunities for the development of the global bespoke packaging market over the period of projection, from 2020 to 2030.
The global bespoke packaging market has been classified based on three significant parameters, which are type, application, and region. Such segmentation offers better insight into the market.
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Global Bespoke Packaging Market: Notable Developments
The global bespoke packaging market has experienced some path-breaking, important developments over the last few years.
- In February 2020, US-based provider of high quality flexible packaging solutions, Liqui Box Corporation, has made acquisition of the Plastics Division of DS Smith plc, UK-based packaging business. The acquired Plastics Division comprises both flexible and rigid packaging businesses. With this acquisition, Liqui Box Corporation will be able to have wider reach in the UK and diversified product portfolio.
Some of the prominent companies in the global bespoke packaging market are mentioned below:
- Mayr-Melnhof Karton AG
- Stevenage Packaging Limited
- Kolbus GmbH & Co. KG
- Gatto Astucci SpA
- Liqui Box Corporation
- McLaren Packaging Limited
Global Bespoke Packaging Market: Key Trends
The global bespoke packaging market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
High Demand from E-commerce and Brick-and-Mortar Businesses to Augur Well for the Market
In the packaging business, cartons and boxes account for a large chunk of the global bespoke packaging market and are likely to remain one of the leading end user for the said market throughout the period of assessment. High demand for kids’ products and luxury footwear is likely to generate augmented demand for bespoke packaging solutions. This form is no more “Just a Box” and it estimated to transform the packaging industry in the years to come.
Consumer-centric packaging has gained momentum in the brick-and-mortar as well as E-commerce businesses. Focus on consumers is likely to bring on colossal changes in the space of bespoke packaging. At the same time, massive progress made in the field of Internet of Things (IoT), sensors, and digital printing is likely to open up new scope of opportunities for the development of the global bespoke packaging market over the tenure of analysis, from 2020 to 2030.
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Global Bespoke Packaging Market: Geographical Analysis
Europe is estimated to offer huge growth opportunities for the global bespoke packaging market and is likely to remain one of the prominent regions in the said market throughout the analysis period, from 2020 to 2030. High demand for this kind of packaging from the cosmetics and personal care sector is likely to augur well for the regional market. In addition, confectioneries and tobacco companies are also venturing into this kind of packaging solution so offer more personalized services to the customer. Riding on the back of these factors, the bespoke packaging market is likely to observe high growth in Europe in the near future.
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