Future Market Insights estimates that the customised packaging market will be valued US$36.10 billion in 2023. During the forecast period, the market is expected to grow at a CAGR of 5.28%.
The need for personalised packaging has expanded as a result of its many applications across many industries. Manufacturers frequently employ customised packaging to improve how consumers view their brand.
Ferrero’s 2017 “Nutella Unica” campaign, which is Italian for “Unique Nutella,” was a resounding success for the company. It involved the launch of a 7 million-jar limited-edition Nutella product in that country. The distinctive collection attracted a sizable number of consumers, and it was completely sold out in a month.
The market share for personalised packaging is anticipated to benefit from the rising demand for luxury packaging, which is particularly prominent in the APAC region. Regional firms are expanding their capabilities and production capacity in order to strengthen their position in the quickly expanding market.
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It is anticipated that as businesses gradually become more cognizant of what consumers are thinking as a result of branding operations, the need for personalised packaging will rise. The food and beverage industries have the highest propensity for customised packaging.
Personalization of packaging can improve customer contact and brand recognition, but new designs need a lot more time and work from firms, which could drive up manufacturing prices. A significant commitment of marketing resources is required to choose the ideal package design and marketing plan for this.
Key Takeaways
- The personalized packaging market is likely to register at a CAGR of 5.28% during the forecast period.
- Historically, the personalized packaging market had a CAGR of 6.6% between 2018 and 2022.
- The value of the personalized packaging market is expected to be US$ 60.39 bn by 2033.
- Based on packaging type, the bottles segment is expected to have a CAGR of 4.5% in the personalized packaging market by 2033.
- Based on the end use industry, the beverage sector is anticipated to experience the highest CAGR of 6.1% over the projection period.
- With a CAGR of 5.5% throughout the forecast period, US market participants are significantly boosting the demand for personalized packaging.
- From 2023 to 2033, the personalized packaging market in China is anticipated to expand at a CAGR of 14.4%.
- During the predicted period, the UK is forecast to expand at a CAGR of 4.5% by 2033.
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Competitive Landscape
Personalized packaging may increase brand recognition and facilitate customer interaction, but new designs need a lot more time and effort from businesses, which could increase manufacturing costs. Determining the best package design and marketing strategy for this calls for a large commitment of marketing resources.
- In August 2021, American business C-P Flexible Packaging acquired Fruth Custom Packaging and its subsidiary, Cleanroom Film and Bag for an unknown sum (CFB).
The acquisitions help C-P increase its presence on the West Coast and its capacity for packaging semiconductors, electronics, medical equipment, and biopharmaceuticals. - Businesses may now create unique packaging for their products due to the introduction of the Amazon Prime Packaging program. Businesses are focusing on providing sustainable packaging solutions as a way to reduce their carbon footprint.
For instance, Coca-Cola recently unveiled its PlantBottle packaging, which has up to 30% plant-based elements.
Heightened packaging costs as well as the quest for maintaining a balance between innovation and convenience to consumers continues to remain potent challenges in the intelligent packaging domain:
Key segments
By Packaging Type:
- Bottles
- Containers & Jars
- Bags & Pouches
- Cartons
- Envelopes
- Boxes
By End-User Industry:
- Food, Beverage
- Pharmaceutical
- Personal Care
- Logistics
- Others
Key segments:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
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