The luxury rigid box market is poised for substantial growth in the foreseeable future, fueled by the increasing demand for premium packaging solutions for luxury goods and the rapid expansion of the e-commerce sector. These high-quality rigid boxes play a crucial role in packaging high-value items like jewelry and cosmetics, providing exceptional product protection and conveying a sense of premium aesthetics that is essential for transportation and storage purposes.
With a robust compound annual growth rate (CAGR) of 3.9%, the market is expected to achieve estimated revenues of approximately US$ 4.0 billion in 2022 and further rise to US$ 5.4 billion by 2030. The increasing global demand for luxury goods is a driving force behind the need for top-notch rigid boxes. Additionally, the growing popularity of online shopping is expected to boost 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 like 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.
Empower Your Business – Download a Sample Report Today @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11926
Key Takeaways from the Luxury Rigid Box Market Study:
- The consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030.
- Two-piece boxes are estimated to have an incremental opportunity of US$ 268 million by 2025.
- Paper and paperboard are estimated to account for 68% of the global market by value and reach slightly over US$ 3.6 billion in 2030.
- Magnetic closure is estimated to gain 180 basis points of current market share during the forecast period.
- Foam inserts are estimated to have a significant market share among 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 million by 2030, driven by 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.
Maximize Growth Opportunities – Get a Tailored Report @ https://www.futuremarketinsights.com/customization-available/rep-gb-11926
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.
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:
India’s Growing Electrical and Electronics Industry Drives Demand for Luxury Rigid Boxes: The thriving electrical and electronics industry in India, coupled with government initiatives to enhance manufacturing infrastructure, has led to a significant demand for luxury rigid boxes. With India being the world’s second-largest mobile manufacturer and the electronics market reaching US$ 118 billion in 2020, the growth potential for luxury rigid boxes in this sector is substantial.
Rising Consumer Preference for Packaged Food and Beverages Boosts the Luxury Rigid Boxes Market in Germany: Germany’s luxury rigid boxes market is expected to grow at a CAGR of 3.6%, driven by the flourishing food and beverage industry. Consumers in Europe are increasingly favoring packaged food and beverages, leading to consistent growth in the sector. German food and beverage companies have invested significantly in innovations and product development, contributing to the increased demand for luxury rigid boxes in the German market
Unlock Special Savings – Get Your Discount Today @ https://www.futuremarketinsights.com/request-discount/rep-gb-11926
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs
