Private label packaging market surged up and is projected to remain impressive in future
Albany, NY -- (SBWIRE) -- 08/17/2018 -- Packaging became a need of a product launch strategy, from the past decade. Packaging is the need of all industries, from designing to printing and from raw material supplies to processing. Packaging industry witnessed large scale technology adoption regarding equipment, films, and packaging methods. Moreover, demand for primary packaging is at the stagnant level. Private label packaging is one of such solution, which allows wrapping of the container of the private label products. This form of packaging is largely used in packaging consumer products such as food and beverage, cosmetic, etc. On the milieu of growth in FMCG products, the demand for private label packaging market also surged up and is projected to remain impressive in near future.
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Private Label Packaging: Dynamics
Demand for convenient packaging and rising disposable income are the key factors driving the growth of private label packaging market. The availability of a wide range of innovative packaging solutions is likely to have a significant influence on the demand for private label packaging market during the forecast period. Other factors driving the market are growing food and beverage industry, growing packaging industry, growing cosmetic industry, etc. The major factor restraining the private label packaging market is the consumer loyalty for the existing brands especially in Asia Pacific and Middle East Africa region. The factor trending the private label packaging market consumer demand for convenient packaging, demand for competitive cost packaging, etc. The companies of private label packaging have significant opportunity in premium private label packaging as it has relatively high demand in private label packaging market than the economical private label packaging.
The global market for private label packaging witnessed fast growth in last few years. Private label has the success high-purchase, commodity driven categories and also where the consumers perceive slight differentiation. Therefore, the value share of private label packaging in developed economies, such as North America, Europe and Australia is high compare to the other regions and is expected to maintain its dominance over the forecast period. Whereas, the Asia-Pacific market is expected to witness maximum growth rate in the global private label packaging market. The developing economy such as Asia Pacific except Japan, MEA and Latin America are having the opportunity for private label packaging market if the companies enters in the market with strong marketing of the product.
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Private Label Packaging: Key Players
The key player of private label packaging market are Urist Cosmetics Inc., Advanced Labels, LAUNCH Private Label, Dalden Corporation, Accurate Box Company Inc., ACP Worldwide, Jonco Industries, Inc., Econo-Pak, Ultra Seal, Unit Pack Co., Inc., Oratech, LLC, Proactive Packaging & Display, Central Package and Display, Heubach Corporation, Bernard Laboratories, Inc., MBK Tape Solutions, LBU, Inc., Action Pak, Inc., Contrapac, HOC Industries, American Towelette Co., etc.