New York (US), Aug. 29, 2023 (GLOBE NEWSWIRE) -- Shoe Packaging Market Overview
The study documents by MRFR state that in the “Shoe Packaging Market Research Report Information by Distribution Channel, Material, Region, and Type - Forecast Till 2032”, the Shoe Packaging market is predicted to expand substantially during the evaluation era from 2022 to 2032 at a sizable CAGR of closely 3.50%. The study documents suggest projections related to the global market's mounting revenue data, which will likely attain a market of USD 8.6 Billion by the end of 2032. As per the reports, the market was priced at almost USD 6.3 Billion in 2022.
Market Scope
The Shoe Packaging market has recently advanced. The main feature causing a rise in market performance is the changing consumer preferences. Furthermore, the launch of sustainable packaging materials is also projected to boost the global market's performance. Moreover, the need for affordable designs is also likely to positively impact the growth of the global market over the review timeframe.
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Competitive Analysis
The list of the top leaders across the global Market for Shoe Packaging includes players such as:
- Packqueen
- Packman Packaging Pvt. Ltd.
- Zhuhai Zhuoya Packing Product Ltd.
- Sneakerbox Co.
- Cross Country Box Company
- Elevated Packaging
- Precious Packaging
- Samrat Box Mfg. Co. Pvt. Ltd.
- Packaging of the World
- Royal Packers
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 8.6 Billion |
| CAGR | 3.50% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Material, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increasing number of sports enthusiasts along with growing fashion consciousness and growing trend of online shopping |
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Market USP Covered
Market Drivers
The Shoe Packaging market has recently advanced. The main feature causing a rise in market performance is the changing consumer preferences. Furthermore, the launch of sustainable packaging materials is also projected to boost the global market's performance. Moreover, the need for affordable designs is also likely to positively impact the growth of the global market over the review timeframe.
Market Restraints
On the contrary, various aspects may have a hostile effect on expanding the global market for Shoe Packaging. One of the main restraints in advancing the market's growth is the elevated prices allied with raw materials.
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COVID-19 Impact
The COVID-19 pandemic has massively impacted the majority of industry sectors all around the world. The global health hazard has impacted public health and caused a severe disruption in almost all kinds of industrial operations. The global market for Shoe Packaging is no different than others. The restriction on manufacturing facilities from various end-use sectors has caused a major fall in revenue figures for the global market. On the contrary, with the market operations getting back on track, the market is anticipated to grow substantially over the review era.
Segment Analysis
Among all the types, the rigid segment ensured the leading spot across the global market for shoe packaging in 2022. Rigid packaging has an exterior that is rigid and non-flexible. Rigid plastics are deployed in businesses and sectors regarding shoe packaging based on their attributes and advantages. Malleable packaging refers to a kind of flexible packaging.
Among all the materials, the paper segment ensured the leading spot across the global market for shoe packaging in 2022. Paper is a material with a remarkably wide range of applications. It is used for shoe packaging options, including paper bags, thick boards, corrugated boxes, and molded pulp containers.
Among all the distribution channels, the offline segment ensured the leading spot across the global market for shoe packaging in 2022. Sales made from offline mediums, including stores, brand stores, malls, and others, are considered in the distribution channel sector.
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Regional Analysis
The study offers market data by region for North America, Asia-Pacific, Europe, and the Rest of the World.
The study documents by MRFR entail that The Asia-pacific Region ensured the prime position across the Shoe Packaging market in 2022, with a maximum share of about 45.80%. The area is recognized for dynamic development contributors such as China, India, and Indonesia. The primary aspect boosting the development of the regional Shoe Packaging market is its large urban population and fast industrialization, particularly in nations like Australia, India, China, Japan, Indonesia, and New Zealand.
The North American Region will grow at the maximum CAGR across the Shoe Packaging market from 2023 to 2032. The area is recognized for dynamic development contributors such as Mexico, Canada, and the U.S. The primary aspect boosting the development of the regional Shoe Packaging market is the frequent shoe usage and quickly evolving consumer lifestyles.
The European Region estimates to hold the second position across the Shoe Packaging market over the assessment era. The area is recognized for dynamic development contributors such as Germany, France, and the U.K. The primary aspect boosting-up the development of the regional Shoe Packaging market is the busy consumer lives boosting shoe sales throughout European nations. Furthermore, the rise in the purchase of different shoe types, such as boots, high heels, and athletic shoes, is also considered to be one of the vital aspects causing a surge in the growth of the regional market. In addition, consumers' quickly changing lifestyles are projected to boost the regional market's development over the coming years.
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