Packaging Design Services Procurement Intelligence
The packaging design services category is anticipated to grow at a CAGR of 4% from 2023 to 2030.
The packaging industry is witnessing a shift toward sustainable packaging to optimize the amount of material used. Corporate Social Responsibility (CSR) has come into the spotlight to improve brand perception in recent years. Companies are now adopting “rightsizing” as part of their CSR initiatives. This is the practice to reduce overall packaging size, fill material, and paper waste through conscious packaging design choices. In addition, the growing demand for personalization and the rise of e-commerce are driving the growth of the category. With increased digitization and the rapid rise in adoption of the work-from-home model, large companies are now engaging with multiple stakeholders to create efficient packaging designs.
Order your copy of the Packaging Design Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Packaging Design Services Procurement Intelligence Report Scope
The Packaging Design Services category is expected to have pricing growth outlook of 10% – 15% (Annually) from 2023 to 2030, with below pricing models.
- Bundled-pricing
- tier-based
- cost-plus pricing model
Supplier Selection Scope of Report
- Cost and pricing
- past engagements
- productivity
- geographical presence
Supplier selection criteria of Report
- By service type (print design, website development, packaging design, advertising design, typography, illustrations, etc)
- operational and functional capabilities
- technology used
- others
Packaging Design Services Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Packaging Design Services Procurement Cost and Supplier Intelligence
The major cost components include salaries of packaging designers/consultants, technology and software used, facilities and utilities, marketing, etc. Packaging designers can include a wide range of professionals from visual designers, graphic designers, box designers, etc. The level of customization and detail in the graphic design has an impact on the final cost.
The price of packaging design services has increased steadily over the last few years. The price of developing a packaging design differs from agency to agency. It is found that in general, for a smaller packaging design agency, charges can start from USD 10,000 compared to a larger or specialized agency which charges around USD 50,000 and above. Depending on the complexity of the design, costs can range from USD 300 for a simple design to USD 3,500 for more complex designs.
Packaged goods manufacturers encounter various challenges. The companies need a flexible workforce and production floor to adapt to seasonal demand and holiday promotions. These changes result in fluctuating costs throughout the year, which can be difficult to manage and cause headaches. To mitigate costs and increase efficiency, companies prefer outsourcing their packaging design services to developing countries such as China and India. Other countries such as Singapore, Australia, and the U.A.E are also preferred for procurement of services. In many cases, companies outsource both packaging and packaging design to expand product lines quickly. Including a contractor in the design stage of the product can provide a fresh and expert perspective, helping to create a better product.
List of Key Suppliers
- Arhue
- Altair Product Design Inc.
- ANSYS Inc.
- People People (DEI Creative)
- La Visual Inc.
- Murmur Creative
- Ruckus Marketing LLC
- Pulp + Wire
- ESI Group
- LGND
- Mucca Design
- Forever Sincretix.
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
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Brief about Pipeline by Grand View Research:
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 supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- 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 disruptions