The global point-of-purchase packaging market is estimated to reach a valuation of US$ 31.5 billion by the end of 2033, increasing at a CAGR of 6.6% over the next 10 years, says a recently published research report by Fact.MR, a provider of market research and competitive intelligence.
Point-of-purchase packaging solutions are helpful for retail owners to clear their stock of old products. These solutions ensure the constant attention of people on respective products owing to their unique designs. These solutions are placed in high-traffic areas to increase their effectiveness and generate more sales.
The rapidly rising demand for consumer goods around the world is predicted to stimulate the sales of these packaging solutions. Increased demand for various food & beverages and personal care products will drive market growth.
Retail shop owners are becoming aware of the use of different packaging solutions that are helpful for them to gain a competitive edge in the global market. The increasing inclination of people to use beauty products is projected to push growth opportunities in the global market during the forecast period.
The study says the market in Canada is expected to advance at a CAGR of 5.1% through 2033. The current value of the point-of-purchase packaging industry is US$ 16.6 billion. The global market is expected to expand at a CAGR of 6.6% through 2033. Demand for point-of-purchase packaging services in Germany is estimated to increase at a CAGR of 4.6% through 2033.
“Increasing importance of product presentation in the retail industry is projected to stimulate the use of point-of-purchase packaging solutions over the coming years,” says a Fact.MR analyst.
Prominent players in the global market are concentrating on developing eco-friendly products. They are also ensuring the sustainable value of newly developed products. The high growth of organized retail stores and the increasing importance of product presentation across the retail environment are also projected to serve as pivotal factors bolstering growth opportunities in the global market.
Retail stores are adopting point-of-purchase packaging solutions for the advertisement of different products to drive their sales growth. These packaging solutions spark impulse shopping among people before leaving the store. Products packed in point-of-purchase packaging solutions are generally placed in areas with high traffic to attract people’s attention.
A wide variety of brands are using these solutions to reinforce brand loyalty and relay marketing messages. These solutions work as a new medium and effective tool for marketing. Point-of-purchase packaging grabs people’s attention, offers a communication platform with the relevant audience, and influences their purchasing behavior.
Industry players are providing customized point-of-purchase packaging services. The study says they offer various schemes, including bundled products, discounted products, or complementary products, to boost the effectiveness of these solutions.