In the dynamic world of modern marketing, brands are increasingly compelled to craft innovative promotional strategies to ensure their products stand out. With the pervasive influence of the internet, consumers are now more informed about product specifications, actively filtering their choices. Enter promotion bins, a tool embraced by numerous brands to augment the appeal of their products on store shelves. These strategically designed bins have a knack for subtly influencing consumers’ subconscious, often leading to impulse purchases. Moreover, their space-efficient nature is appreciated by brand owners and retailers alike, allowing for the accommodation of more products in limited floor space, making them a common sight in grocery stores.
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The advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for PROMOTION BINS
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for PROMOTION BINS market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Global Promotion Bins Market: Dynamics
Retailers and wholesalers are majorly focusing on the display products that enhance the visibility of the newly launched products. The new launched products needs branding and differentiation from the older ones, and promotional bins fulfils the purpose by enhancing the way of presentation of the product.
Thus, the promotion bins are used for displaying consumer goods in the retail shops. Food products such as fruits, vegetable, ready to eat meals and beverages are widely stored in the promotion bins. There rise in demand for ready to eat food products is proportionally increasing the demand for displaying products. Thus, food industry is fueling the growth of the promotion bins market.
Nowadays, packaging manufacturers are majorly focusing on reducing the cost of packaging products. The production cost of the promotion bins is lower as compared to the other point to purchase display products that are made up of paper and paperboard material. High cost of the promotion bins is restraining it’s demand in the market.
Global Promotion Bins Market: Key Players
Some of the key players of the global promotion bins market are Netwell Engineering Work Sdn. Bhd., Shenzhen Ruimei Display Industry Co., Ltd., Suzhou Hammers Display Equipment Co., Ltd., Wuxi Puhui Metal Products Co., Ltd and other promotion bins manufacturers.
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Global Promotion Bins Market: Regional Players
Global promotion bins market is segmented into seven regions including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan. In North America region the promotion bins market is expected to witness decline in the next decade. U.S. has witnesses a retail apocalypse.
About 6,800 grocery stores and restaurants were closed in 2017. This has occurred due to financial crises and also traction towards the e-companies such Amazon, Filpkart in the region. Changing preference of the consumers in the region has highly impacted the retail sector, resulting in the decline of the growth of the promotion bins market. In Europe, grocery online sales is expected to grow at a fast pace.
This has negatively impacted the sales of the promotion bins in the region. China holds the leading position in terms of production as well as consumption of promotion bins. The reason behind this is the increase in the buying power of the consumers in developing economies. It is expected that for the next decade Asia Pacific region will lead in terms of consumption of promotion bins.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Promotion Bins Market: Segmentation
The global promotion bins market is segmented by product type, application type and end use.
On the basis of product type, global promotion bins market is segmented into:
- Single Storage Promotion Bins
- Multi Storage Promotion Bins
Multi storage promotion bins enable high consumer convenience and therefore has higher preference over its counter parts.
On the basis of application, type global promotion bins market is segmented into:
- Food & beverages
- Ready to eat meals
- Fruits & Vegetables
- Nonalcoholic drinks
- Consumers Goods
- Household and personal care
- Others
On the basis of end use, global promotion bins market is segmented into:
- Grocery Stores & Retailers
- Supermarkets
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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