Nov 26, 2018
Decorative Packaging Sales Continue to be Driven by Seasonal, Festive Trends
by Team Fact.MR
Decorative packaging sales continue to grow on account of a combination of factors, most notably, growing demand for personalized gifting and booming e-commerce sales. However, the evolution towards sustainable packaging has led manufacturers to change their production status-quo and incorporate more sustainable materials in their offerings. Gains are led by growing momentum in the gift packaging market, which is witnessing increasing proliferation of wrapping paper. According to the research study, consumer demand is evolving, which has led to increasing demand for lightweight packaging formats vis-à-vis rigid containers.
A sample of the study is available upon request.
According to the study, demand for decorative packaging is influenced by a multitude of trends, and healthy living and convenience factor are among the top parameters. The evolving regulations have meant that manufacturers now have the obligation to provide information to consumers so that they can make informed choices. The decorative packaging industry is focusing on mitigating the use of harmful ingredients, and promoting use of sustainable packaging materials.
The use of gift packaging as a ‘value-added’ feature is also promoting growth of the market. Many retailers often provide basic gift wrapping at no additional costs. The demand for gift packaging from retailers, therefore, has remained steady, and it is likely to stay so during the course of the forecast period.
According to the study, the growing popularity of food gifting is another key trend in the decorative packaging market. The popularity of e-retail, combined with launch of customized food gifting items has led to a resurgence in food gifting. The demand for food gifting is especially higher during the festive season, creating sustainable opportunities for manufacturers.
The research study also offers insights on the decorative packaging trends and developments on the basis of key markets. According to the study, the US continues to be one of the leading markets for decorative packaging globally, followed by Europe. The tradition associated with personal gifting, combined with the ease of gifting brought about by the pervasiveness of e-retail, has also led to growth of the decorative packaging market.
Demand for decorative packaging is growing at a brisk pace in Asia Pacific, as the trend of gifting has caught on among the rising middle class and millennials in the region. According to the study, China and India are creating substantial opportunities for decorative packaging manufacturers, and gains are likely to remain strong over the course of the forecast period.
The research study also offers competitive insights and analysis on the key players in the decorative packaging market. According to the study, the decorative packaging marketplace continues to be highly fragmented considering the nature of the product. The fragmentation of the market has meant that many local players, whose sales revenue cannot be tracked, hold miniscule revenue share of the market. However, collectively, these small and local players account for a sizeable share of the market. On the other hand, large players are focusing on offering customized and personalized gift packaging solutions to cater to the needs of other demographic of consumers. The large players are aware of the relative strength of smaller players, and are focusing on collaborations and tie-ups.
According to the research study, considering the seasonal nature of the decorative packaging market, manufacturers have to pay a lot of attention to inventory and demand forecasting. Maintaining operational efficiency is likely to be one of the key factors for decorative packaging manufacturers, and use of advanced technologies is likely to gain traction.
The key players analyzed in the research study on decorative packaging market include Hoomark (Subsidiary of IG Design Group), IG Design Group Plc., Mondi Group Plc., Card Factory Plc., KARL KNAUER KG, Hallmark Cards Inc., and DS Smith Plc.