In terms of revenue, the Global Pop Display Market is expected to reach USD 15.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.50% from 2022 to 2028.
Point of Purchase displays is one of the essential platforms for attracting customers' attention and communicating product benefits, assuring product interaction, and encouraging impulse purchases. As a result, firms' aggressive product market tactics drive the global demand for Pop Display.
Key Highlights from Report:
- The floor display segment held a significant share in 2021. This is attributable to the factors such as increased commerce and the evolution of organized retailing. However, online shopping threatens the Pop Display sector. Online purchasing has several advantages, including time savings, ease, payment tracking, etc. In several applications like food and beverage, cosmetics and personal care, pharmaceuticals, and others, advancements in Pop Display goods in recyclable materials are projected to give considerable potential to the industry.
- The counter displays segment is anticipated to grow at a considerable CAGR during the forecast period owing to the high demand for counter displays made from various materials, including cardboard, metal, and Plexiglas. Acrylic displays, glass display cases, counter easels, hat displays, multi-purpose merchandisers, candy racks, basket displays, paper racks, and greeting card displays are just a few examples.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Asia Pacific accounted for the largest share in 2021. Asia Pacific is driven by the shift in the demographic transition in regions like West Europe toward the aged population in areas such as Germany and Belgium, characterized by the growth in the number of single households. This has prompted brand owners and retailers to innovate their advertising displays across the retail space to increase the appeal of products for the senior population, thereby increasing the adoption of Pop Display as promotional and advertising tools.
Despite forecasts that online purchasing would end brick-and-mortar commerce, physical store selling continues to thrive. According to a recent poll conducted by TimeTrade, a software business based in Massachusetts, around 85 %of the entire purchases are still made in physical retail stores rather than online. In addition, product engagement before purchasing continues to be the most important factor driving sales in physical retail stores. On the other hand, because brick-and-mortar retailers are constantly under pressure to charge low prices, they are increasingly turning to Pop Display as a long-term merchandising option.
Furthermore, as the retail business becomes more competitive, Pop Display to entice customers to buy has increased, prompting retailers to demand diverse custom-made displays capable of servicing specific needs across different retail locations. The ability to customize in terms of aesthetics, capacity, and mobility will significantly impact the company's brand identity. In addition, customers can try or interact with a product on their own with Pop Display, removing the need for a salesperson and, as a result, lowering overhead costs. Finally, given the competitive nature of the retail industry, brands are spending a significant amount of money on product promotion, which will help the overall market to propel in the future.
North America held the most significant shares in 2021. North America has the largest market share of Pop Display. Owing to the high demand for processes in the U.S. region, along with technological advancements and innovations, the market of Pop Display is expanding in this region.