The luxury rigid box market is poised for substantial growth in the foreseeable future, driven by the increasing demand for premium packaging solutions for luxury goods and the expansion of the e-commerce sector. These high-quality rigid boxes are extensively used to package high-value items such as jewelry and cosmetics, providing exceptional product protection and conveying a sense of premium aesthetics that are crucial for transportation and storage purposes.
The market is projected to experience a robust compound annual growth rate (CAGR) of 3.9%. Estimated revenues are expected to reach approximately US$ 4.0 billion in 2022 and are anticipated to reach US$ 5.4 billion by 2030. This growth can be attributed to the rising global demand for luxury goods, which consequently drives the need for top-notch rigid boxes. The increasing popularity of online shopping is expected to further fuel the demand for premium packaging solutions that ensure secure and reliable product delivery.
The Asia Pacific region is expected to witness significant growth in the luxury rigid box market during the forecast period. Countries such as China, India, and Japan are experiencing a surge in demand for luxury products, contributing to the market’s expansion in this region. Furthermore, the growing acceptance of eco-friendly packaging options and the promotion of sustainable packaging practices also play a vital role in driving the growth of the luxury rigid box market in the Asia Pacific.
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Key Takeaways of Luxury rigid boxes Market Study
- Consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030
- Two piece boxes estimated to have an incremental opportunity of US$ 268 Mn by 2025
- Paper and paperboard estimated to account for 68% of the global market by value, and reach slightly over US$ 3.6 Bn in 2030
- Magnetic closure is estimated to gain by 180 bps of current market share during the forecast period
- Foam inserts are estimated to have a significant market share by insert types, accounting for more than half of the market share by 2030
- Asia Pacific is estimated to have an incremental opportunity of US$ 930 Mn by 2030 with the increasing demand for luxury boxes for confectionery product packaging
“Luxury rigid boxes are the elegant and sophisticated medium for presenting products. Additionally, these boxes promote impulse purchasing of the products. Demand for luxury rigid boxes among end users is consistently increasing to build and enhance positive brand image. In spite of declining phase of luxury rigid boxes market in 2020 due to COVID 2019, significant revenue generating opportunities are anticipated with explosive nature of e-commerce and digital shopping,” says and FMI analyst.
Competitive Landscape
The key manufacturers operating in luxury rigid boxes market are focusing on increasing their production capacity to meet the increasing demand for luxury rigid boxes. Moreover, the key players are increasing their product portfolio to cater for the growing luxury rigid boxes market.
- In February 2021, Robinson Packaging develops and manufactures bespoke luxury rigid boxes. With expertise across many major markets, including confectionery and food, toiletries, cosmetics and multimedia, Robinson creates top quality boxes for every vendor.
- In January 2019, Metsä Board, the paperboard and packaging manufacturer, introduced new luxury box named SkinCare 2.0 gift box which uses fibre-based materials to replace plastic.
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Key Players:
- PakFactory Canada
- Madovar Packaging Inc.
- Burt Rigid Box Inc.
- Taylor Box Company
- DS Smith plc
- Bigso AB
- Robinson Plc
- Sunrise Packaging Inc.
Key Insights of the Report:
Trends Shaping the Luxury Rigid Boxes Market: The report identifies several key trends influencing the luxury rigid boxes market. These trends include shifting consumer preferences towards premium packaging solutions, growing demand for sustainable packaging materials, and the rise of customization and personalization in packaging design.
Advancements in Production Technologies: The luxury rigid boxes market is witnessing significant advancements in production technologies. These advancements are aimed at improving efficiency, reducing production costs, and enhancing the overall quality and aesthetics of luxury rigid boxes. Innovative technologies such as digital printing, automation, and advanced finishing techniques are driving the evolution of the market.
New Product Launches and Expansions: The report highlights the frequent occurrence of new product launches and expansions within the luxury rigid boxes market. Market players are constantly introducing innovative designs, materials, and features to meet the evolving demands of luxury brands and consumers. Additionally, companies are expanding their manufacturing capabilities and geographical presence to cater to a wider customer base.
Regional Outlook:
Factors Driving Demand for Luxury Rigid Boxes in India
India’s Growing Electrical and Electronics Industry: The demand for luxury rigid boxes in India is increasing due to the country’s thriving electrical and electronics industry. The government has implemented initiatives to enhance the manufacturing infrastructure, providing quality and affordable facilities. With the Indian electronics market reaching a value of US$ 118 billion in 2020 and being the world’s second-largest mobile manufacturer, the growth potential for luxury rigid boxes in this sector is significant. The Indian Electronics Manufacturing Service (EMS) Industry is also projected to expand 6.5 times its current market size by 2025, further bolstering the demand for luxury rigid boxes.
Influence of the Flourishing Food Industry on the Luxury Rigid Boxes Market in Germany
Rising Consumer Preference for Packaged Food and Beverages: The luxury rigid boxes market in Germany is expected to grow at a CAGR of 3.6% during the forecast period, driven by the flourishing food and beverage industry. Over the past decade, Europe’s food and beverage industry has consistently experienced growth, with consumers increasingly favoring packaged food and beverages. According to a report by German Trade and Invest (GTAI), around one-third of all processed food manufactured in Germany is exported. Additionally, German food and beverage companies have invested over US$ 1.9 billion in innovations and product development. These factors contribute to the increased demand for luxury rigid boxes in the German market.
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Luxury Rigid Boxes Market by Category
By Packaging Type:
- Hinge lid Box
- Collapsible Box
- Rigid Sleeve Box
- Shoulder Neck Box
- Two piece Box
- Telescopic Box
- Others
By Material:
- Fabrics
- Metals
- Plastics
- Paper & Paper Board
- Wood
By Closure Type:
- Magnetic Closure
- Ribbon tie
- Mechanical Lock
- Others
By Inserts:
- Without insert
- With insert
- Foam Inserts
- Plastic Inserts
- Paper or Paperboard Insert
By End Use:
- Fashion Accessories & Apparels
- Watches
- Jewelry
- Sunglasses
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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