The packaging design services category is anticipated to grow at a CAGR of 4% from 2023 to 2030.
Packaging Design Services Category Overview
The packaging design services category is anticipated to grow at a CAGR of 4% from 2023 to 2030. The packaging industry is witnessing a shift toward sustainable packaging to optimize the amount of material used. Corporate Social Responsibility (CSR) has come into the spotlight to improve brand perception in recent years. Companies are now adopting “rightsizing” as part of their CSR initiatives. This is the practice to reduce overall packaging size, fill material, and paper waste through conscious packaging design choices. In addition, the growing demand for personalization and the rise of e-commerce are driving the growth of the category. With increased digitization and the rapid rise in adoption of the work-from-home model, large companies are now engaging with multiple stakeholders to create efficient packaging designs.
Access of the Packaging Design Services Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Factors such as increased demand for hygienic and safe packaging and the shift to e-commerce and contactless deliveries have led to the evolution of packaging designs. In 2023 and 2024, some of the latest and emerging packaging design trends include interactive packaging, augmented packaging, hyper-contrast, saturated labels, brutalist-type designs, vintage inspired designs, flat graphics, translucent and semi-opaque designs, etc. Increasingly, brands are focusing on crafting experiences rather than merely pushing products. Smart packaging, also called interactive packaging, can take a variety of shapes and forms. The key is to make packaging multifunctional so that consumers can interact with the brand in a more meaningful way. For example, a puzzle wine bottle label that reveals a message when the pieces are rearranged, or a cereal box that folds into a board game.
Packaging designs with technology may include NFC (Near Field Communication) chips or QR codes. Technology-embedded packaging design can initiate an augmented reality (AR) experience, offer comprehensive product details, or even present a virtual tour of the production process when scanned or touched by a smartphone. For instance, a Croatian wine company, Enosophia, created interactive wine labels that, when scanned, start playing music in the bottle. In 2022, Enosophia introduced two wine bottles, Grasevina TRS No. 5 and rosé Matarouge, with AR labels. On the other hand, Ace Squad, an energy drink company, added a fun AR game to its packaging design (or, known as, gamification packaging design) by using a QR code in 2023.
It’s becoming increasingly difficult to communicate brand positioning through advertising due to stagnant or reduced marketing budgets and increased media clutter. Hence brands are increasing their investments in unique packaging designs to boost sales. According to a 2023 research survey report, 52% of customers would return to a store if they purchased a product in quality packaging, and more than 40% of consumers shared a packaging design on social media if it was unique and intriguing. According to the Ipsos 2021 survey report, 72% of consumers made their purchase decisions based on packaging design, and 67% based it on packaging material. Additionally, it was found that 81% of consumers tried something new due to a unique packaging design and 63% of consumers repurchased a product because of the packaging’s appearance.
The global packaging design services category is fragmented. The larger brands mostly opt for renowned global companies or agencies to acquire a sense of security and status. Due to the increasing demand for unique packaging design, major marketing agencies such as Ruckus Marketing, Murmur Creative, DEI Creative, and The Netmen Corp are continuously upgrading their design platforms to attract new customers and increase sales. As a result of fragmentation, most of the suppliers have moderate to low bargaining power in the market. However, specialized or very large-scale agencies may command a higher bargaining power owing to their expertise and brand value. Technological advancements and the introduction of new products provide buyers with multiple options. Hence, the bargaining power of buyers is moderate to high.
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Packaging Design Services Procurement Intelligence Report Scope
The Packaging Design Services category is expected to have pricing growth outlook of 10% – 15% (annual) from 2023 to 2030, with below pricing models.
Supplier Selection Scope
Supplier Selection Criteria
Packaging Design Services Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
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