Global Disc Packaging Wallets Market: Overview
Disc packaging wallets are compact disc protection solutions. Compact discs being extremely delicate, require protection from water, chemicals, tear, and other varieties of physical damage. Disc packaging wallets are packaging solutions that can contain more than one compact discs. Disc packaging wallets enjoyed wide usage about until a decade ago, after which, a decline was witnessed. This was due to the rise of alternative storage devices such as external hard drives, which could store more than what is achievable with the help of a compact disc. Despite that, a significant amount of today’s population use compact discs. The packaging industry has undergone rapid transformation in the last decade, with consumer preference inclining more towards convenient packaging solutions. Disc packaging wallets manufacturers emphasize on features such as compatibility with full color printing, to create a vibrant look.
Also, competition among manufacturers have led them to prefer raw materials with special features, such as anti-static properties. Factors which contribute to high preference for disc packaging wallets is their ability to pack more than one compact discs, without compromising on safety and protection against damage. The global disc packaging wallets market is poised to decline further over the forecast period, due to increase in the number of people with access to internet. However, manufacturers of disc packaging wallets across the world are expected to use the opportunity to increase their presence in regions with limited or no internet access.
Global Disc Packaging Wallets Market: Dynamics
The global compact disc market has witnessed a steady decline in the last decade. However, it would be too early to term compact discs ‘obsolete’. Several companies use compact discs as a means to communicate media to target buyers, by placing them in places with high foot traffic, such as pharmacies, retail stores and supermarkets, among others. This is one of the key factors expected to generate demand for disc packaging wallets, over the forecast period. The global disc packaging wallets market is expected to have more penetration in regions with least internet access.
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According to a survey by International Telecommunications Union in 2016, nearly 47% of the world population had internet access. Of these, internet enjoyed more than 80% penetration in the developed countries, while the figure was half, in developing regions. Therefore, the developing countries are expected to be at the epicenter of marketing strategies for compact disc manufacturers and disc packaging wallets manufacturers. The global disc packaging wallets market is also expected to be driven by demand for music albums worldwide. They are mostly used to contain a full music album, or a collection of compact discs. A key factor for high preference for disc packaging wallets is their portability. Disc packaging wallets are manufactured in a variety of configurations, all of which are aimed at increasing convenience as well as maximize disc protection. In 2015, more than 80% of the revenues generated from music sales in Japan, were in compact disc format. Therefore, in terms of penetration, disc packaging wallets enjoy higher demand in Japan. Despite the decline, the global disc packaging wallets market manufacturers are expected to target the internet deprived population, over the forecast period. Availability of alternative disc packaging solutions such as disc packaging sleeves, might hamper growth of the global disc packaging wallets market.
This post was originally published on Analytics News