Consumer Packaging Market: Overview
Packaging for the consumer goods industry plays a key role in making the product aesthetically appealing for the potential buyer and delivering products to the consumer in a sufficiently sophisticated, safe, convenient, and appropriate manner. Serving a large number of industries that produce tangible goods to be sold to large number of consumers, the packaging industry forms the cornerstone of any consumer goods business. The consumer packaging market has witnessed a significant rise in research and development activities aimed at the development of innovative packaging materials and product designs.
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However, vast pressures exerted by the volatile prices of chief raw materials and the need to cut down on the original material used in packaging for economic and environmental reasons are having a negative impact on packaging companies. Transparency Market Research predicts that the market will exhibit growth at a moderate pace in the next few years, with efforts diverted towards innovation in product design and strategic expansion across emerging economies expected to remain the key factors distinguishing successful ventures from the ones struggling to grow.
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