Here is how packaging industry will behave in 2019.
1. Plastic Packaging in Cosmetic Market:
From bottles, tubes and jars, cosmetic industry has been relied predominately on plastic containers. According to some reports, the plastic packaging will have a growth of 12% by 2019. Bottles are commonly used across the industries. However, cartons are gaining a steady momentum in cosmetic industry as they rose from 9% in 2010 to 19% 2016.
2. Packaging Industry to Touch 14 Billion USD by 2022:
According to theResearch and Markets, the revenue of packaging industry will cross USD 14.64 billion by 2022. Furthermore, the CAGR is expected to be up 12.0% from 2017. The study further says that plastic packaging will remain the largest packaging industry. Besides, Consumerreports.Orgstates that $150 billon is being spent on product packaging globally. According to Smithers Pica, the world packaging industry’s market value will be $1 trillion by 2020.
Also Read: 5 Product Packaging Tips for Startups
3. Rise of Digital Printing:
Digital printing has been influencing today’s packaging. It lets packagers to be more creative with their packaging compared to typesetting. Most packaging companies have opted for digital printing over the decade. The industry was estimated to be valued at over US$ 11 billion in 2016. A new report by Future Market Insights claims that digital printing in packaging market my exceed US$ 52 billion in revenues by 2027.
4. Personalized Packaging:
Coca Cola printed people’s name on their bottles. Frito Lay printed faces on their potato chip packages. This is how packaging is being personalized. In 2019, we can see new heights of personalization in packaging. After all, personalization lets a business promote their name and brand in more compelling way.
Also Read: What Drives the Growth of Green Packaging Market?
So these are the trends and happenings that are expected to take place in packaging industry in 2019. What do you think? Please share your thought with us by commenting below.
