A packaging cost is usually referred to as the entire cost that is used for the manufacturing of the product’s packaging. The material, the machines, electric supply, printing cost, and many other factors come under the packaging cost of packaging procedure. A packaging cost is a factor that is considered while pricing a product. The entire packaging cost is divided into each product before price it, once the pricing cost of the packaging is measured; the products are priced according to it.
Here are some of the amazing packaging stats that you need to know:
- It is recorded that 72% of American buyers say that they buy the products mostly because of the packaging design.
- 61% of people agree that they buy the products again and again once they are finished if they come in quality packaging and the packaging is protective and attractive.
- 35% of people say that they are interested in watching packaging and unboxing videos, that means that people are concerned and attracted towards the packaging of the product.
- 55% of the people are often seen to order the boxes that they saw on YouTube in the unboxing video. This means that good packaging convinces the people to order that box for themselves as well.
- 40% of the customers do upload the images of good packaging and product on their social sites that mean that having good packaging for your brand’s product will indirectly help you to promote your brand.
- It is noticed that most of the shopkeepers always recommend customers to buy the products that come in classy and gift like the packaging. People are always attracted to the packaging that is classy and protects the product from being damaged; this is the reason most of the manufacturers try to spend much money on the packaging of the products.
Packaging investment in 2018
In the primary portion of 2018, there were 156 acquisitions of packaging organizations totaling $40.9 billion, a pace well in front of 2017’s record 307 exchanges totaling $52.8 billion. The powerful interest in packaging resources is reflected in the valuations of these organizations.
Global packaging market cost in terms of $
It has been forecasted that the global packaging market will extend to about more than $975 billion by the end of 2018. As indicated by the latest report, offers of packaging are gathered in Asia, which represented 36% of the aggregate in worth terms in 2012. North America and Western Europe totaled portions of 23% and 22% individually. In 2012, Eastern Europe was the fourth biggest buyer of packaging with a worldwide portion of 6%, intently pursued by South and Central America with 5%. The Middle East speaks to 3% of the worldwide interest for the packaging industry, while Africa and Australasia each have a 2% share. As indicated by the examination, this division of the market is required to change fundamentally by 2018; Asia is anticipated to speak to over 40% of worldwide interest, while North America and Western Europe miss out detectably.