Luxury Packaging Market Outlook, Strategies, Industry, Growth Analysis, Future Scope, Key Drivers Forecast To 2023
Summary
Global Luxury Packaging Market Size, Share, Trends, Growth, Analysis by Material (Paperboard Material, Plastic, Glass and Others), by End-user (Food & Beverage, Confectionery, Personal Care & Cosmetics, and Others) and By Region - Global Forecast To 2023
Key Players
The prominent players in the luxury packaging market include Amcor Limited (Australia), HH Deluxe Packaging (U.K.), Ekol Ofset (Turkey), DS Smith Plc (U.K.), Pendragon Presentation Packaging Ltd (U.K.), Design Packaging, Inc. (U.S.), Elegant Packaging (U.S.), MW Creative Ltd (U.K.), Winter & Company AG (Switzerland), Lucas Luxury Packaging (Ireland), and CLP Packaging Solutions Inc. (U.S.).
Market Highlights
Packaging is no longer done simply to protect products from damage but has become an essential part of luxury branding. Luxury packaging is mostly used to package highly expensive and sophisticated products. The packaging employed is a part of a company’s brand image. Companies spend more on packaging innovation rather than on production cost.
Luxury Packaging Market is projected to grow at a CAGR of 4.8% during the forecast period.
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They are adopting active packaging and intelligent packaging so as to enhance the performance of the packaging technique. Rise in the number of product launches, especially in the cosmetic and fashion sectors, drives the growth of the luxury packaging market. Additionally, rise in penetration of online retail and travel retail also contributed in the global luxury packaging market.
However, fluctuating price of raw materials, are the factors may be a hindrance in the growth of the market.
Market Research Analysis
Global Luxury Packaging Market has been segmented based on material, end-user, and region. On the basis of material, the market segments are paperboard material, plastic, glass and others.
Paperboard dominates the material segment of the market and is expected to be the fastest growing material segment. Growing demand for sustainability packaging drives the growth of the paperboard segment.
It is light weight and is gaining prominence due to the rising need for renewable and recyclable solutions for various packaging needs. This material is used for packaging cosmetics, food, beverages, pharmaceuticals, and household products.
Plastic is one of the most widely used materials for packaging across various end-use industries. The material offers high barrier, cost efficient, temperature resistance and durable packaging options.
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Scope of the Report
This study provides an overview of the global market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global luxury packaging market by its material, product, manufacturing process, application and region.
By Material
Paperboard Material
Plastic
Glass
Others
By End-user
Food & Beverage
Confectionery
Personal Care & Cosmetics
Others
By Region
North America
Asia Pacific
Europe
Rest of the World
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