According to Stratistics MRC, the Global Luxury Packaging Market is expected to grow at a CAGR of 5.7% during the forecast period. Some of the key factors influencing the market growth include changing consumer preferences, growing willingness to spend more, growing demand for appealing packaging solutions and increasing penetration of travel retail & online retail. However, rise in cost of raw materials is restraining the market growth.
Luxury packaging is used for packaging and decorating high-end products. The luxury packaging can be broadly classified as high street and pure luxury packaging based on the price of the product. Pure luxury packaging focuses more on the target audience while designing the packaging. In this case, each brand adopts a unique style of packaging. High street packaging focuses on the price of packaging and follows a particular trend such as use of lightweight and durable designs. Luxury product manufacturers are inclined towards sustainable development and hence are investing in biodegradable and environment-friendly packaging.
Amongst Material, Paperboard segment held significant market share during forecast period. Paperboard packaging is gaining importance due to the rising need for renewable and recyclable solutions for various packaging needs. In addition, the demand for sustainability packaging, the decreased raw material consumption, and growth in e-commerce will also support the growth of the market in the paperboard segment.
By geography, Asia Pacific acquired the largest market share owing to the increase in consumer spending in Japan, India, China and other countries. Additionally, the demand for cosmetics and food products is anticipated to grow due to the increasing population and the demand for urbanization, quality products and consumers inclining toward technology. Large population and heavy urbanization have led to an increase in demand for frozen food products in the region.
Some of the key players profiled in the Luxury packaging include HH Deluxe Packaging, Owens-Illinois Inc, Pendragon Presentation Packaging Ltd, Amcor Limited, Design Packaging Inc, Elegant Packaging, DS Smith Plc, Ekol Ofset, Design Packaging Inc, MW Luxury Packaging, Prestige Packaging Industries, Crown Holdings Inc., Lucas Luxury Packaging Limited, Ardagh Group, Groupe VERPACK and Progress Packaging Ltd.
- Other Materials
- Rigid Box
End Users Covered:
- Watches and Jewellery
- Food and Non- Alcoholic Drinks
- Cosmetics and Fragrances
- Retail and Consumer Products Industry
- Alcoholic Drinks
- Other End Users
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements