The global luxury packaging market looks poised to attain a valuation of US$ 10.4 billion in 2023. From 2023 to 2033, the market is likely to accelerate at a steady CAGR of 5.5% and reach a US$ 17.9 billion in 2033.
The luxury packaging market in the European region caters to the high-end segment of various industries, including fashion, cosmetics, perfumes, spirits, and jewelry, among others. Luxury brands prioritize packaging as a vital component of their products, aiming to create a unique and exclusive experience for their customers. European luxury packaging is characterized by its meticulous attention to detail, exceptional craftsmanship, and the use of premium materials such as high-quality paper, leather, wood, and metals. Ornate and artistic designs are often incorporated, enhancing the perceived value of the product.
Sustainability is an emerging trend in the luxury packaging sector, with brands increasingly focusing on eco-friendly materials and practices to align with the growing consumer awareness of environmental issues. This shift towards sustainable luxury packaging is not only a response to changing consumer expectations but also a reflection of the broader societal shift towards sustainability.
The luxury packaging market in Europe is also influenced by digital innovations, with the integration of smart packaging, such as NFC tags and QR codes, for enhanced customer engagement and product authentication. Additionally, the rise of e-commerce has prompted luxury brands to adapt their packaging for online sales, ensuring the unboxing experience is as exceptional as in-store.
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Customized packaging solutions are being asked for with growing preference for personalization. These solutions are in great demand in fashion & apparel, jewelry, watches, and premium beverages verticals.
At the same time, the fact that heavy and bulky products are not much into adoption of luxury packaging can’t be ignored. Their packaging, in fact, involves higher costs in terms of printing, material, machinery – which could be restraining the luxury packaging market in the near future.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Luxury Packaging Market’. Its dedicated team of analysts and consultants has used its bottom-up approach embedding both – macros and micros in its primary, secondary, and tertiary modes of research.
“With rising consumption of luxury and premium goods, the global luxury packaging market is slated to grow on a good note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Luxury Packaging Market
- North America holds the largest market share due to the US being subject to large-scale sales of luxury goods. The UNCTAD (United Nations Conference on Trade and Development) has stated that the year 2019 saw sales through e-Commerce reach US$ 26.7 Trillion.
- Europe stands second on the analogous grounds and is expected to remain the same even going forward. Plus, the EPRC (European Paper Recycling Council), in its press release dated July 2020, states that paper recycling rate has higher recycling numbers and would continue with the same in the near future.
- The Asia-Pacific is expected to be led by China in the luxury packaging market. As per WITS (World Integrated Trade Solutions), China is the highest exporter of luxury goods like ornamental articles and statuettes.
Competitive Packaging
- Ardagh Group, in March 2022, announced of collaborating with Constellation Brands, Inc. for producing well-decorated wine bottles for the latter.
- GPA Global, in December 2021, announced completing acquisition of Polish Print & Packaging Facility from ASG. This acquisition is a stepping stone toward its strategic plan of expanding operations all across Europe.
- Delta Global, in August 2022, was conferred upon a Gold Award by EcoVadis for its stance on human and labor rights, sustainable procurement, and ethics.
- Groupe Caisserie Bordelaise, in January 2022, acquired Wildcat Packaging; thereby making an entry into custom luxury packaging.
- Fedrigoni, in October 2022, completed acquisition of Guarro Casas; thereby improvising on production of fine book covering, luxury packaging, and security applications.
- DS Smith, in March 2020, did announce opening of the very first recycling facility all across the US. The plant is capable of recycling more than 36K metric tons of old corrugated cardboard every year.
- Steklarna Hrastnik, in February 2021, did inaugurate the novel furnace for additional white flint glass. This new furnace has manufacturing capacity of nearly 120 tons, thereby rendering an additional white flint glass for cosmetics, spirits, and perfumes.
The Key Players Are-
- Design Packaging Inc.
- HH Deluxe Packaging
- DS Smith plc
- Lucas Luxury Packaging
- Pendragon Presentation Packaging
- Ekol Ofset
- Keenpac
- Progress Packaging
- WestRock Company
- McLaren Packaging
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What does the Report package?
- The research study is based on packaging format (bags, pouches, boxes & cartons, bottles, and likewise), by material (paper & paperboard, plastic, wood, glass, metal, and fabrics), and by end-use industry (premium food, beverages, home & personal care, consumer goods, consumer electronics, fashion accessories & apparel).
- With brand owners increasingly opting for attractive and customized packaging, the global luxury packaging market is expected to grow on a remarkable note in the near future.
Luxury Packaging Market by Category
By Material:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Bioplastics
- Paper & Paperboard
- Corrugated Board
- Specialty Papers
- Boxboard/Carton Board
- Kraft Papers
- Molded Pulp
- Metal
- Glass
- Fabric
- Wood
By Product Type:
- Bags
- Pouches
- Boxes & Cartons
- Bottles
- Composite Cans
By End Use:
- Fashion Accessories & Apparels
- Watches
- Jewellery
- Sunglasses
- Shoes
- Perfumes
- Apparels
- Food & Beverages
- Cookies & Biscuits
- Chocolates
- Sweets
- Alcoholic Beverages
- Consumer Goods
- Flowers
- Ceramics
- Glass & Metal Crafts
- Consumer Electronics
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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