Packaging Design Services Market Procurement Intelligence, Supplier Intelligence Day One Analysis Report, 2020 – 2025
Procurement Outlook
The packaging design services include the creation of the exterior of a product. This includes designing an exterior that will be capable of storing and protecting a product as well as making it visually appealing to attract customers and perform a top-of-the-mind recall among the consumers. This includes choices in material and form as well as graphics, colors, and fonts that are used on wrapping, a box, a can, a bottle of any kind of container
Operators offering packaging design services operate on a value-based pricing scheme. Based on the design, configuration, product that needs to be packaged, and budget of their clients, the packaging design is finally conducted. Rates of packaging design services vary drastically depending upon the type of value that the operators are expected to offer. On average, packaging concept designs cost range from USD 8,000 to USD 18,000 with artwork varying from USD 500 to USD 2000 per SKU depending on the complexity of packaging. There are additional costs depending upon the type of material that is used for packaging and the type of technique of design that is to be performed of the packaging material.
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Demand Outlook
The global Packaging Design Services market is expected to be valued at USD 33.7 billion by 2025 has grown at a CAGR of 9.5% from 2020 to 2025. The marketing and branding cost of products, especially FMCG products which constitute a major part of the packaging design services, is high with companies focusing on lucrative and attractive designs and packaging styles to attract their customers and create a top-of-the-mind recall subliminally.
North America is the largest market for packaging globally and also the largest market for packaging design services. The need for appealing products and packaging in industries like food and beverage, FMCG, and designer gifts along with informative packaging for pharmaceuticals and medicines has helped the growth of packaging design services in North America
Cost Drivers
There has been a rising tendency of using recyclable packaging material. Recycled materials are comparatively difficult to work with for packaging design service providers. Therefore, the bill value for recyclable packaging is higher as compared to the traditional packaging material. In addition to this, the advancements in 3D printing and laser cutting are helping package design services providers provide better designs and therefore gain a higher ticket value. These technological advancements, help in increasing revenue per job. However, the initial cost of setup is high and therefore the return on such investments also needs to be high.
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A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
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- Market Intelligence involving - market size and forecast, growth factors, and driving trends
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- Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
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