Albany, NY -- (SBWire) -- 05/13/2019 --The packaging industry has undergone rapid transformation in the last decade, with consumer preference inclining more towards convenient packaging solutions. Disc packaging wallets manufacturers emphasize on features such as compatibility with full color printing, to create a vibrant look. Also, competition among manufacturers have led them to prefer raw materials with special features, such as anti-static properties. Factors which contribute to high preference for disc packaging wallets is their ability to pack more than one compact discs, without compromising on safety and protection against damage. The global disc packaging wallets market is poised to decline further over the forecast period, due to increase in the number of people with access to internet.

However, manufacturers of disc packaging wallets across the world are expected to use the opportunity to increase their presence in regions with limited or no internet access.

Global Disc Packaging Wallets Market: Dynamics

The global compact disc market has witnessed a steady decline in the last decade. However, it would be too early to term compact discs 'obsolete'. Several companies use compact discs as a means to communicate media to target buyers, by placing them in places with high foot traffic, such as pharmacies, retail stores and supermarkets, among others. This is one of the key factors expected to generate demand for disc packaging wallets, over the forecast period. The global disc packaging wallets market is expected to have more penetration in regions with least internet access.

The global disc packaging wallets market is also expected to be driven by demand for music albums worldwide. They are mostly used to contain a full music album, or a collection of compact discs. A key factor for high preference for disc packaging wallets is their portability. Disc packaging wallets are manufactured in a variety of configurations, all of which are aimed at increasing convenience as well as maximize disc protection.

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The Asia Pacific region is expected to lead the global disc packaging wallets market in terms of market share. However, with increasing number of people with internet access, the market will decline. It is anticipated that such a scenario might by possible by the late 2020s. Currently, emerging economies such as China and India are witnessing an increased rate of internet accessibility. For instance, in India, the number of internet users went up by around 6-8% last year, which is a key restraint for India's disc packaging wallets market.

In regions such as Japan, a significant portion of the population still prefers compact disks, which is expected to create growth opportunities for the Japanese disc packaging wallets market. In developed regions such as the North America and Europe, availability of modern storage devices such as external drives, is expected to suppress growth of the disc packaging wallets market. Also, there are alternative solutions available for obtaining music, such as online libraries, and online streaming, which go a long way in contributing to the decline of the disc packaging wallets markets in these regions.

Global Disc Packaging Wallets Market: Key Players

Some of the key players operating in the global disc packaging wallets market are - Oasis Disc Manufacturing, Disc Makers, and Wewow UK, among others.