Branding is one of the key influencing tools for wrist watch sales which has strengthen the revenue of wrist watch market. One of the factors which helps in an impulse purchase of watches is due to sophisticated and stylish packaging boxes and cases of wrist watches. Traditionally wooden and metal material used for packaging wrist watches accounted for significant percentage of share in wrist watch packaging, but currently with plastic material sharing similar properties, the use of plastic boxes has increased. Besides, product innovation and technological development in machine have increased the overall production output at minimal cost. All such factors have led manufacturers to tap the untapped regions of the Middle-East and Asia Pacific excluding Japan.
The shapes of wrist watch packaging boxes and cases have evolved from traditional round and square shape to triangle and diamond shaped boxes and cases which helps to differentiate the packaging for wrist watch packaging manufacturers. All such factors have contributed to increase consumption in the region of Asia Pacific which accounts for prominent use of wrist watch packaging and are further projected to remain dominant in global wrist watch packaging market over the forecast period.
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Wrist Watch Packaging Market – Market Dynamics:
Manufacturers of wrist watch are focusing on product innovation and development as watch manufacturers highly demand elegant box design. Organized retail stores act as a key influencing platform to display watch boxes and cases so as to cater the demand of luxury watch segment consumers. Also, easy availability of raw material such as HDPE and PET plastic have increased the supply capacity of wrist watch packaging manufacturers. Moreover, technological development in wrist watches has led to innovation of smart watches such as Google, Apple, Samsung, etc., which has accounted for over 5% of overall wrist watch sales which has helped to improve the volume of the wrist watch. All such factors have surged the demand for wrist watch packaging in the regions of North America and Europe. Rising purchasing power of young and consumerist population of emerging region has increased the sales of wrist watches wherein young population accounting for a greater share of purchase.
Wrist Watch Packaging Market – Market Segmentation:
Global wrist watch packaging market is segmented on the basis material type, product type, and shape type.
On the basis of material type, the global wrist watch packaging market is segmented into wood, fabric, Cardboard & paperboard, metal which is further sub-segmented into aluminum and steel, plastic is sub-segmented into polyethylene terephthalate (PET), high- density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), polystyrene (PS).
On the basis of product type, the global wrist watch packaging market is segmented into box, cases.
On the basis of shape type, the global wrist watch packaging market is segmented into round, square, triangle, rectangle, oval, and diamond shape.
Wrist Watch Packaging Market – Regional Outlook:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
In term of production the global wrist watch packaging market highly fragmented across regions of Asia pacific excluding japan, japan, North America and Europe. On the basis of consumption the market is highly concentrated with three countries that is Hong Kong, United States, China, France and Germany accounting for large market share. Market in the countries of Asia Pacific excluding Japan is expected to witness a robust CAGR over the forecast period.
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Global Wrist Watch Packaging Market – Key Players:
Some of the key players operating in the global wrist watch packaging market include Interpak, Linkupak, Ch. Dahlinger GmbH & Co KG, National Pak Ltd, Studioabd, Kling Display & Packaging, Cyberpac, Delu Ltd., LOMB ART.