BUSINESS: Research + Stats Next Decade to See Eyewear Packaging Market Grow at 4.7 Percent CAGR By Staff Monday, October 11, 2021 12:39 PM The eyewear packaging market is expected to grow at 4.7 Percent CAGR over the next decade, according to a newly released study by Persistence Market Research, a New York-based company.Persistence Market Research noted that consumers nowadays are inclining toward customized and innovative packaging options, which is one of the reasons driving demand for eyewear packaging. Many consumers prefer eyewear for gifting purposes, and therefore, prefer customized packaging designs where aesthetics play a vital role.EVA cases and bespoke cases are available in various different colors and prints, which are capturing consumers’ attention. Also, bespoke packaging for eyewear offers wide print ability, and protection of eyewear because of its sturdy cardboard packaging. Apart from these, leather-made eyewear packaging is considered as a luxury status and is increasingly being adopted by many people globally. Consumers are also demanding protective and convenient packaging, which is driving demand for eyewear packaging further across the globe.In light of these above factors, Persistence Market Research predicts that global sales of eyewear packaging are estimated to increase 1.6X by the end of 2031. Among the study’s key takeaways:The eyewear packaging market is significantly fragmented and extensive in nature, leading to medium bargaining power of consumers due to substantial number of players.In case of material, plastic material is the ruling category in the industry, and due to its durability, this segment is projected to register peak Y-o-Y of 7.1 percent during 2030-2031.Changing consumer preference to online-based sales from store-based is likely to drive online retailing of eyewear packaging over the coming years.Attributing to aesthetic appeal and sturdiness, EVA cases are estimated to hold nearly 40 percent value share in the global market in 2021.Market growth in South Asia and East Asia is expected to be driven by easy availability of raw material. Therefore, the market for eyewear packaging in South Asia is projected to expand at an impressive CAGR of over 6 percent through 2031.Due to the COVID-19 outbreak, market growth in 2020 was only 1.5 percent. However, in 2021, it is anticipated to increase to over 4 percent.“The packaging industry is taking customization and personalization to another level, because of which, consumers can alter the size, look, and color of eyewear as per their convenience,” said an analyst at Persistence Market Research.Click here to access a sample of the Eyewear Packaging Market Report, a global industry analysis of 2015-2020 and forecasts for 2021-2031. The market study reveals offers insights about material (paper, craft paper and cardboard, plastic, leather, and others) and design (EVA cases, round boxes, bespoke boxes, slide open boxes, and others) across seven major regions of the world.