PUBLISHER: DataM Intelligence | PRODUCT CODE: 1382511
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1382511
Global Point of Purchase Packaging Market reached US$ 14.0 billion in 2022 and is expected to reach US$ 21.9 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2023-2030.
The global point of purchase (POP) packaging industry is expanding rapidly, driven by a growing emphasis on increasing brand visibility and customer engagement at the point of sale. POP packaging, carefully placed in retail establishments, captures consumer attention, drives impulse purchases and effectively conveys product information. Businesses understand the importance of POP packaging in influencing consumer purchasing decisions. POP displays that are engaging and visually appealing successfully communicate product benefits and drive brand engagement.
APAC countries, particularly rising economies like China, India and Southeast Asian countries, have experienced tremendous economic growth and urbanization. The expansion has resulted in a rising middle class with higher purchasing power, fueling demand for consumer products and, as a result, the requirement for appealing POP packaging to improve product visibility. Therefore, Asia-Pacific accounts for roughly one-third of global market share.
Retail Ready Packaging (RRP) drives the global point of purchase (POP) packaging industry by optimizing product presentation, increasing brand visibility, boosting supply chain efficiency and favorably influencing the consumer shopping experience.
Retail Ready Packaging is intended to stand out on retail shelves, attracting consumers' attention and developing an appealing arrangement of items. It increased visibility is critical in influencing purchasing decisions at the point of sale, resulting in increased sales and income. RRP is designed for easy filling and replenishing on retail shelves, making inventory management easier for store workers. Efficient restocking ensures that products are easily accessible to customers, which contributes to a great shopping experience and may increase sales.
Because of their direct impact on customer perceptions, purchasing decisions and overall market competitiveness, brand visibility and differentiation are major growth drivers in the global point of purchase (POP) packaging industry.
Effective POP packaging increases brand visibility by attracting consumers' attention in a congested retail environment. Brands may stand out and stimulate the interest of potential shoppers by using eye-catching designs, vibrant hues and unusual packaging structures. Consumers recognize and recall memorable and distinctive POP packaging designs. Consumers are more likely to recall a company's packaging when making purchasing decisions, which contributes to repeat purchases and brand loyalty.
Retail packaging systems in operation currently include well-established processes and infrastructure. The introduction of new POP hpackaging that is incompatible with existing procedures can disrupt these operations, forcing merchants and manufacturers to resist the changes. Incompatibility needs additional adjustments to current systems for integration, increasing implementation complexity. Because of this complexity, companies may be hesitant to invest in innovative POP packaging solutions, slowing market growth.
Making existing packaging systems compatible with new POP packaging frequently necessitates equipment retrofitting or replacement. The accompanying expenditures might be significant, acting as a deterrent for companies, particularly small ones with limited resources.
The global point of purchase (POP) packaging market has been considerably revolutionized by technological integration and digitalization. The incorporation of technology into POP packaging creates new opportunities for engaging customers, increasing brand visibility and increasing overall market competitiveness.
The use of interactive displays and augmented reality technology into point-of-purchase packaging enables for engaging and immersive experiences. Consumers can digitally interact with things, picture how they fit into their life and gain additional product information, which leads to greater interest and potential purchases.
The global point of purchase packaging market is segmented based on material, product, end-user and region.
Because of its specialized packaging needs, customer interaction methods and strong demand for appealing packaging in retail settings, the food and beverage industry are a significant driver of growth in the global point of purchase (POP) packaging market.
Seasonal promotions and marketing initiatives are common in the food and beverage companies. POP packaging is commonly used to promote seasonal products, limited-time deals, discounts and special bundles, hence increasing product visibility and sales during these campaigns. Therefore, the food and beverages end-user segment hold for majority of the total global segmental shares.
North America dominates the global point of purchase (POP) packaging market due to a number of significant variables that contribute to the region's dominance. North America has a sophisticated retail business that includes supermarkets, hypermarkets, convenience stores and specialized retailers. The wide retail network provides a broad platform for the use and demand of point-of-purchase packaging solutions to increase product exposure and sales.
Retail spending and consumer consumption are generally high in the region. Because of this increasing consumption, there is a great demand for appealing and effective point-of-purchase packaging that can capture consumer attention and influence purchasing decisions. Therefore, the matured retail industry contributes to the growth of the North American market, which accounts for majority of the global shares.
The epidemic increased public awareness of cleanliness and safety. Consumers desired products that were packaged in a way that minimized contact and contamination. POP packaging with safety features such as tamper-evident closures or contactless dispensing was in high demand.
Online buying increased as a result of lockdowns and limitations. The transition drove the requirement for packaging that was not just appealing in physical locations but also displayed well online. To keep consumer interest, POP packaging required to be visually appealing for online platforms.
Supply disruptions and increased uncertainty can cause raw material price volatility, affecting the entire production cost of POP packaging. Currency fluctuations and increased transportation costs as a result of geopolitical tensions can also contribute to cost excursions.
Political instability can cause market uncertainty, influencing investment decisions by enterprises in the POP packaging sector. Companies may postpone investments, expansion plans or new product releases until the situation is more stable and predictable.
major global players in the market include: DS Smith, Georgia-Pacific LLC, Creative Displays, Swisstribe, Smurfit Kappa, International Paper Company, Sonoco Products Company, WestRock Company, Hawver Display and Fencor Packaging Group Limited.
The global point of purchase packaging market report would provide approximately 61 tables, 65 figures and 195 Pages.
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