Packaging Service Market Definition
Packaging services include packaging of the products to help the product reach its final destination in an efficient and effective way. It is a crucial part of the industry where products are conjoined with marketing and advertising strategies to improve the brand image and value perception which results in the increase in profits and sales of the company. There have been huge demand of packaging services around the world with the home delivery shopping options and also companies are more concerned about product transportation.
The market study is broken down by Type (Retail Packaging Service, Industrial Packaging Service, Plastics and Foam Packaging Service, Sewn Products Packaging Service and Others), by Application (Food & beverages, Consumer Goods, Pharmaceutical and Others) and major geographies with country level splits.
Amcor plc (Australia), Nefab Group (Sweden), Mondi plc (Austria), The Smurfit Kappa Group plc (Ireland), Cascades inc. (Canada), Graphic Packaging International, Inc. (United States), DS Smith plc (United Kingdom), Sonoco (United States), Georgia-Pacific LLC (United States), TricorBraun (United States) and ITC Limited (India) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Packaging Service market by Type, Application and Region.
On the basis of geography, the market of Packaging Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Packaging, the sub-segment i.e. Corrugated Boxes will boost the Packaging Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 13th January 2020, TricorBraun has announced its acquisition of Minneapolis-based Packaging Solutions, Inc. (PSI), which serves markets including pharmaceutical, pet food, and personal care. A portfolio company of global private investment firm AEA Investors, TricorBraun has acquired and successfully integrated more than 20 companies over the last 25 years. PSI marks the company’s seventh acquisition in the last three years, during AEA’s ownership.
- Increasing Sustainable Packaging Services
- Introduction of Automation in Providing Packaging Service
- Growing Packaging Industry with the Increasing E-commerce Market
- Rising Demand for Consumer Goods Products
- Advancements in Packaging Services
- Increasing Demand for packaging Services from Healthcare Industry
- The requirement of Skilled Workers for Packaging Service and Managing supply Chain
- Adherence to Regulatory Guidelines on Packaging Service
Key Target AudiencePackaging Service Providers, Packaging Industry Associations, Potential Investors, Regulatory Bodies, Research and Development Institutes and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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