The market for luxury packaging is anticipated to expand significantly, rising at a consistent annual rate of 4.4% from 2021 to 2031 to reach a value of $25,421.8 million. The exponential growth of the luxury goods market and the rising desire for brand identification are the main causes of this increase. The market's growth has also been aided by the growing use of environmentally friendly packaging options, an increase in middle-class income, and shifting customer tastes. The rapid development of e-commerce, fueled by social media, and the introduction of curated and customised package forms have all contributed significantly to the market's expansion.
Recent years have seen a tremendous growth in the Luxury Packaging Market driven by the increasing demand for high-end goods and the need for distinctive brand experiences. The demand for distinctive and aesthetically beautiful packaging solutions has become critical as luxury businesses place a premium on leaving a lasting impression and increasing customer engagement. Further boosting the need for sustainable luxury packaging choices are the market participants' adoption of eco-friendly packaging materials and practises in response to the growing environmental sustainability concerns.
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Market participants are actively engaging in research and development operations to innovate and provide cutting-edge packaging solutions as the luxury packaging market throughout the world continues to grow. Leading companies in the sector are utilising technology developments to create customised package formats that appeal to consumer tastes, ultimately boosting brand loyalty and client pleasure.
In conclusion, with a projected value of $25,421.8 million by 2031, the global market for luxury packaging is expected to experience rapid expansion. The exponential growth of the luxury goods sector, the rising importance of brand identity, the adoption of sustainable packaging options, the rise in middle-class income, the influence of e-commerce and social media, and the introduction of curated and personalised packaging formats all contribute to the market's expansion. Market participants are taking advantage of these developments by investing in cutting-edge solutions in an effort to meet the changing demands and expectations of customers of luxury brands.
Highlighted with 58 tables and 70 figures, this 151-page report “Global Luxury Packaging Market 2021-2031 by Material (Paper & Paperboard, Glass, Metal, Plastics, Textile, Others), Industry (Cosmetics & Fragrances, Premium Food & Beverages, Confectionery, Watches & Jewelry, Fashion & Leather Goods, Others), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global luxury packaging market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
Global luxury packaging market will reach $25,421.8 million by 2031, growing by 4.4% annually over 2021-2031, driven by the exponential growth of the luxury goods coupled with the growing need for brand identity, increasing adoption of sustainable packaging solutions, the increasing middle-class income together with rising consumer preference, growing e-commerce with influence of social media, and the arrival of curated and personalized packaging formats.
View Report Scope and Latest Developments in the Market: https://www.marketwatch.com/press-release/global-luxury-packaging-market...
In-depth qualitative analyses include identification and investigation of the following aspects:
Market Structure
Growth Drivers
Restraints and Challenges
Emerging Product Trends & Market Opportunities
Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and the Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global luxury packaging market in every aspect of the classification from perspectives of Material, Industry, and Region.
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Based on Material, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
Paper & Paperboard
Glass
Metal
Plastics
Textile
Other Material Types
By Industry, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
Cosmetics & Fragrances
Premium Food & Beverages
Confectionery
Watches & Jewelry
Fashion & Leather Goods
Other Industries
Geographically, the following regions together with the listed national/local markets are fully investigated:
North America (U.S., Canada, and Mexico)
Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (UAE, Saudi Arabia, South Africa, Other Nations)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by Material and Industry over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
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Selected Key Players:
Amcor Plc
Ardagh Group
B Smith Packaging Ltd.
Crown Holdings Inc.
Delta Global
DS Smith Plc
Elegant Packaging
GPA Global
HH Deluxe Packaging
International Paper Company Inc.
Keenpac
Lucas Luxury Packaging Limited
Luxpac Ltd.
McLaren Packaging Ltd.
Owens-Illinois Inc.
Pendragon Presentation Packaging
Prestige Packaging Industries
Stolzle Glass Group
WestRock Company
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