According to Future Market Insights, the global black Friday packaging market size is expected to grow from US$ 800 Million in 2021 to US$ 1.5 Billion by 2032, with overall sales exhibiting a CAGR of 8% throughout the forecast period (2022-2032).
Rising trend of black Friday shopping across the world is a key factor driving the global black Friday packaging market. Similarly, growing popularity of black Friday sales on online platforms and offline stores is expected to result in increased demand for customized black Friday packaging products during the forecast period.
Discounts are used to entice new customers, whereas VIP-only or early access deals are distributed to reward loyal customers during the black Friday sales. To promote deals, packaging manufacturers use email drip campaigns and newsletters. The greater a company’s inventory, the deader stock it may accumulate. As a result, dealing with it proactively is critical for profitability.
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As consumers seek sustainable businesses and governments enact anti-waste legislation, the much-unsold stock may pose an even bigger problem. However, listing these products for sale may solve the problem. Additionally, the significance of unsold stock is growing on another level and can be solved by sales such as black Friday. Excellent promotional offers are being made available to increase website traffic, which is expected to escalate the demand for black Friday packaging during the projected period.
Similarly, as more people switch to online shopping, several end-use companies have increased their digital spending by focusing on personalization and packaging. This is expected to boost the growth of black Friday packaging market.
Regionally, North America is predicted to remain at the epicenter of black Friday packaging market during the forecast period. This can be attributed to the availability of big manufacturers and the increasing trend towards online shopping, especially in the festive season of Christmas with amazing deals.
Key Takeaways from Black Friday Packaging Market
- Based on material, the paper and paperboard segment currently holds a market share of 43.1%, and this number is expected to reach nearly 45.9% by 2032.
- By packaging type, customized labels segment is expected to grow at 5% CAGR through 2032.
- North America will continue to remain the most dominant black Friday packaging market during the forecast period.
- The U.S. black Friday packaging market is anticipated to expand at a healthy pace during the projected period.
- Demand for black Friday packaging across the U.K. is poised to exhibit a robust CAGR through 2032.
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“With an increase in demand for black Friday packaging over the next ten years, the market will grow swiftly, especially through online distribution channels, by combining sustainability and packaging design with attractive discounts and free shipping. Besides this, demand for black Friday packaging will grow as a result of changing consumer spending and purchasing habits,” says a leading FMI analyst.
Customized Packaging to Create Opportunities for the Black Friday Packaging Market
The packaging of a product enhances the consumer experience, brand awareness, and value when compared to standard packaging. Today’s consumers want unique and personalized products, so packaging plays a crucial role.
Receiving monotonous, generic products that don’t appear exceptional and delightful leaves much to be desired and is likely to be a big turnoff for customers. If the product is oddly shaped or more prone to breaking, custom packaging is a good option for greater shipment safety. Bulk customized packaging is made from waste-free materials, which lowers production costs. Customers are drawn to personalized labels and bags, which is expected to boost the black Friday packaging market during the forecast period.
Who is Winning?
Key players operating in the black Friday packaging market are DS Smith plc, Pitreavie Packaging and Macfarlane Group UK Ltd. These players are continuously introducing new products as well as increasing their production capacities to meet end user demands as well as to increase their sales.
Black Friday Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global black Friday packaging market, analysing historical demand from 2017-2021 and forecast statistics for 2022-2032.
The study reveals market growth projections on black Friday packaging based on the material (paper & paperboard, plastic, fabric, metal, glass), packaging type (customized boxes and containers, customized bags and pouches, customized labels, customized cans), distribution channels (online sales, hyper and super markets, specialty stores) across seven regions.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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