Neurodesign is an eye-tracking technology, which is mainly developed by the neuroscientists to make attractive designs for product packaging, resulting in purchase of the products by the consumers. Neurodesign is based on the study of cognitive neuroscience (the scientific study of the brain that underlies cognition), which is used to better understand how the mind affects the purchase behavior of the consumers. Neurodesign is the creative process to comprehend important visual cues, by the use of neurodesign tools (color, odor, shape, sound and, tactile feel) that trigger consumer’s brains coupled with an emotional appeal towards neurodesign packaged products. Food and beverage segment is anticipated to dominate among end-use industry. This is attributed to increasing demand from manufacturers. The global neurodesign packaging market is expected to register significant CAGR during the forecast period.
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Advancements in cognitive neurosciences to design more attractive products and packaging is a key driver for the global neurodesign packaging market. Furthermore, emergence of packaging designing trends such as ASAP (As Simple As Possible), geometry 101, old-fashioned (made by hand and detail-oriented packaging) and shelf life or product longevity packaging, are boosting the demand for neurodesign packaging. In addition, packaging technology advancements, increase in implementation of neuroeconomics and neuromarketing tools coupled with increasing investments in R&D to improve packaging design by the end users is expected to boost the demand for neurodesign packaging.
However, higher costs are associated with the neurodesign technology is restraining the growth of the global neurodesign packaging market.
Key trends observed in the global neurodesign packaging market are, neuropackaging designers are designing clear visible packaging products majorly for food and beverage industry, and custom digital printing, which enable bottlers and marketers to team up and create personalized messages and campaigns through packaging.
Based on the geographies, the global neurodesign packaging market is segmented into five key regions, namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to hold the maximum market share in terms of value in the global neurodesign packaging market, this is owing to presence of major number of key market players such as Package Insight, LLC, and Applied Iconology coupled with shifts in consumer spending in the region.
Asia pacific is expected to contribute favorably in the global neurodesign packaging market, this is owing to fastest-growing fastest-growing food and beverage companies in the India, China and Japan countries. Owing to gradually implementation of the neurodesign packaging technology in Latin America, is anticipated to register decent CAGR over the forecast period. MEA is expected to exhibit modest growth in the global neurodesign packaging market during the forecast period.