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The Service Packaging Industry is experiencing noticeable trends that are completely unlike what we have ever seen before, and they are completely changing the market in an unprecedented fashion. As sustainable packaging is becoming ever more popular, the importance of coming up with eco-friendly packaging ideas also grows. The motive to reduce ecological footprint is escalating magnanimously among consumers and businesses, thus pushing to have packaging solutions that are eco-friendly. Therefore, as a result, the volume of demands for such environmentally oriented materials that emphasize their recycling as well as their biodegradable nature is growing. Brand companies as a result towards these changes beginning to implement bio-based polymers and exploring more sustainable processes through the cycle of packaging.
What cannot go unnoticed is a new trend on the Service Package Market which is an increasing importance of e-commerce in the packaging demands. Due to the increasing popularity of online shopping the issue of package for protecting products in transit during transportation is not the only one, the elaborated packaging should also be a positive accents of the customers’ unboxing experience. In the run for the customers eating habits in the web-version of eCommerce business retailers are looking for the jewels and ice-covers for their products to have their goods stand out among their competitors. Besides that more attention's given to packaging optimization for efficiency made to lower waste and shipping costs that are marketing environmental friendly trend.
Automation and intelligent technology connecting showing tendency where the service market is heading. The emergence of automated processing has sharpened the performance of packaging operations, and the mechanized procedures have stabilized the jobs at a low cost, leading to vast amounts of goods produced per time. Smart packaging technologies boosting the adoption of RFID and QR codes become increasingly popular due to the fact that they allow to trace items, manage stock and provide information to businesses and their customers through the air. As compared with yesteryear operations, these technological advancements not only simplify the operations but also offer improved supply chain management that further augments customer satisfaction.
Global environment is another category that shapes markets for service packaging. Along with business growth beyond the national boundaries, a problem of compulsory adaptation of universally compliant packaging solutions emerges. Package manufacturers are, in fact, cracking to this trend by providing customized options that are not only tailored to meet international regulations and standards but also to the specific requirements of the customers. With it, companies are granted the ability for brand and packaging standards to be widely alignable amongst different countries and markets, while globalization becomes the theme in the business's service packaging approach.
Moreover, the tsunami of customization and personalization has pushes the service boxing market into the top level. Selling now, companies have just come round and acknowledged that their packaging solutions should be mindful of their target audience’s needs and preferences. From distinguished design to tailored messaging, personalized services, and customized size options, brands are harnessing these trends in order to make even greater connections with their audience. As a result of this transformation to individual packaging buyers’ standard of each client being a valuable and required part of the shopping process has grown as well.
Service Packaging Market Highlights:
Service Packaging Market Overview
Service packaging market size was valued at USD 135.7 billion in 2023. The Service packaging industry is projected to grow from USD 143.6 billion in 2024 to USD 233.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.25% during the forecast period (2024 - 2032).
Service packaging focuses on offering convenience to the end use customers by providing them a durable, convenient service packaging. Service packaging is majorly used across several applications such as consumer goods, beverages, and foods. The global market for service packaging has registered enormous growth in recent times. The market's growth is mainly credited to the massive development in the packaged food industries. Furthermore, the rapid growth in the e-commerce sector has also played a vital part in the market's growth in the last few years. Online shopping offers several beneficial features, such as free shipping, quicker delivery, attractive discounts & offers, and easier return policies, which are making customers shift towards online shopping platforms. Moreover, the growing pharmaceutical industry across the globe is also anticipated to boost the market's growth in the coming years. on the other hand, the volatility of prices of packaging raw materials is projected to impede the market's growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Prominent Players
List of the key prominent companies in the service packaging include
Amcor Ltd., Mondi Group, Smurfit Kappa Group, Bemis Company Inc., Georgia-Pacific Corporation, ITC Ltd., Cascades Inc., International Paper, Graphic Packaging International Inc., DS Smith Plc, Crown Holdings, Inc, AptarGroup Inc., Sonoco Products Company, and Nippon Paper Industries Co. Ltd.
Segmentation: Global Service Packaging Market
The market is segmented based on material, product, and application. On the basis of the product, the market is segmented into boxes, bags, pouches, and others. The pouches is the major product segment of the market. It is available in several types of stand-up pouches, pillow pouches, and retort pouches. The stand-up pouches are showing higher growth rate due to great barrier properties against moisture and oxygen along with low material usage and cost-effectiveness.
On the basis of the materials, the market is segmented into paper & paperboard, plastic, and others. Plastic dominates the material segment of the global market. It is extensively used materials for packaging across numerous end-use industries. Plastic in the form of PVC, PE, PP, PET, and others are used broadly in the packaging segment. This material provides a high barrier, cost-effectiveness, temperature resistance, and durable packaging options. The paper-based packaging is a versatile, environment-friendly and cost-effective method to transport, protect and preserve an extensive array of items.
On the basis of the application, the market is segmented into food & beverages, consumer goods, pharmaceutical, and others. The food and beverages segment dominates the market. High demand for processed and packed food across the globe driving the growth of the market. Service packaging is mainly used by the food industry for the packing of fruits, vegetables, poultry, meat, fish in addition to prepared meals, and storage products. Moreover, growing population along with increasing disposable income among the consumers also has the positive influence on the growth of the market.
Recent Development
- March 2022- a leader in flexible packaging and material science, ProAmpac, has announced that it has made its fresh food-to-go HandRap™ products available for onlinepurchase from quantities as low as 500 with available options for full-scale production.
- March 2022- a reputed producer of cleaning, maintenance, and personal protection products, The Tranzonic Companies, has announced the expansion of its ability to offer contract converting services for dry and presaturated perforated rolls within the nonwoven wipes category.
- February 2022- The United States Postal Service, in a proposal to capture more packages for next-day delivery, has launched a new, cheaper parcel service named "USPS Connect Local." The service will allow shippers to get next-day, first-class service on document packages weighing up to 13 ounces for USD2.95.
Industry News
In March 2017, Hotpack Packaging Industries has declared an investment of USD 61 million (GBP 50 million) to set up a facility in the U.K. The facility will be furnished with the latest packaging and manufacturing technologies. This facility will be established as the U.K & European head office and manufacturing facility and will create 250 jobs in the region.
In July 2016, Orlando Products, Inc. one of the largest providers of packaging supplies ranging from padded mailers, bubble wrap, and flexible sheet foams, completed the acquisition of Absolute Packaging, LLC. This acquisition provides Orlando Products with additional manufacturing capacity and expands the company's presence in the Northern Virginia market.
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