Rise in consumer spending, increased preferences for luxury goods, and rapid E-commerce expansion are shaping up the global bespoke packaging market. On back of these factors, the global bespoke packaging market is estimated to register a CAGR of 6% during the forecast period of 2019-2029. Brand differentiation, shelf-to-basket conversion, and customer attachment are marking the significant trends in bespoke packaging market.
Companies are focusing on personalization and differentiation of their brands by using unique packaging. New startups, such as Lumi, Packlane, and Packhelp, are disrupting the bespoke packaging business by offering online platforms to design and order customized packaging. Small- to medium-scale businesses are expected to be benefited by internet-enabled packaging platforms.
Key Takeaways – Bespoke Packaging Market Study
- Due to the ongoing premiumization and personalized solution trend, bespoke packaging has been identified as 35-40% more costly in terms of price as compared to standard packaging across the globe.
- Rising preference towards sustainable packaging is expected to propel the demand for bespoke boxes & cartons during the forecast period. Paper & paperboard has been identified as a prominent material used for bespoke packaging, owing to its sustainability and high printability.
- The market share held by the glass bespoke packaging segment is expected to reduce by the end of 2029, attributable to the entry of bag-in-box, cartons, and paper bottles in the global market.
- The fashion accessories and apparels industry is expected to be the most lucrative end-use industry in the bespoke packaging market, on the back of growing E-commerce penetration and intense competition in this industry.
Product Development - Key Strategy of Manufacturers in Bespoke Packaging Market
Key manufacturers in the bespoke packaging market focus on product development, adoption of IoT, and on geographical & capacity expansion. Moreover, key manufacturers strive to increase their presence through the use of online sales platforms to improve brand recognition.
For More Detailed Insights on Bespoke Packaging Market
- In January 2020, James Cropper group developed COLOURFORM™, a moulded fibre bespoke packaging solutions for premium brands.
- In November 2019, DS Smith Plc collaborated with Bloom & Wild and developed a new bespoke decorative box for hand-tied flowers.
- In July 2019, WestRock's Nestlé Purina PetCare's Friskies® Lil' Soups™ Floor Stand/Powerwing won the Budget Award for maximizing resources in a creative and impactful way at the 2019 OMA awards.
Brand owners strive to invest aggressively in packaging, driven by the rise in adoption of premium and customized packaging, and increasing consumer focus on sustainable and environment-friendly products. Manufacturers can gain substantial profits by offering more diversified packaging solutions in terms of technology and design to aid brand owners to cater to consumer preferences for uniquely packaged goods.
About Bespoke Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global bespoke packaging market, analysing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study offers growth projections of the bespoke packaging market on the basis of product (mailers & envelopes, boxes & cartons, bags & totes, pouches, bottles, and others (composite cans, wraps, & others)), material (paper & paperboard, glass, plastic, metal, textile, leather, and, wood), and end-use industry (fashion accessories & apparels, food, beverages, consumer goods & durables, personal care & cosmetics, and others) across seven major regions.
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About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.