The global gift boxes market is on a strong growth trajectory, with a projected market valuation of USD 2,018.62 million in 2023, and expected to reach USD 3,753.80 million by 2033. The market is forecast to expand at a Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2033, fueled by rising disposable incomes, growing gifting traditions, and the increasing prominence of e-commerce.
Gifting has been an integral part of human traditions for centuries, and its significance continues to grow with expanding economies. As disposable incomes rise, people are increasingly willing to spend on gifts for a variety of occasions including birthdays, weddings, anniversaries, holidays, and festivals. This rise in gift-giving is a key driver of the gift boxes market’s expansion.
One of the most substantial factors contributing to the gift box market’s growth is the rise of online shopping and e-commerce. With the convenience of browsing and purchasing gift boxes from home, consumers now have access to an extensive variety of gift box options available at their fingertips. The ease of online purchasing has accelerated the market’s growth, providing shoppers with a range of choices for all gifting needs.
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Corporate gifting has also emerged as a significant contributor to the gift boxes market. Many companies provide gifts to employees, clients, and business partners, especially during special occasions or to show appreciation. Corporate gifting is particularly prevalent during holidays and year-end celebrations, driving demand for aesthetically designed and premium gift boxes, which further fuels the market’s expansion.
Key Takeaways from Gift Boxes Market Report:
- The market expanded at a CAGR of 5.5% from 2018 to 2022.
- In 2022, the global market size stood at US$ 1,897.2 million.
- North America is expected to account for nearly 23% share of the gift boxes market in 2023.
- In 2023, Europe is expected to acquire a 29% market share in the gift boxes market.
Prominent Drivers of the Gift Boxes Market
- Growing Popularity of Gifting Culture: The increasing trend of gift-giving, particularly during holidays, birthdays, and special occasions, is driving the demand for attractive and customizable gift boxes. Consumers seek high-quality packaging to enhance the gifting experience.
- Rising E-Commerce and Online Retail: The boom in online shopping has significantly boosted the demand for gift boxes, as e-commerce platforms require efficient and aesthetic packaging solutions to deliver products to customers in good condition and enhance unboxing experiences.
- Demand for Sustainable Packaging: With growing environmental awareness, there is an increasing preference for eco-friendly, recyclable, and biodegradable gift boxes. Manufacturers are focusing on sustainable materials like cardboard, paper, and recycled products to meet consumer demand for greener packaging options.
- Personalization and Customization Trends: Consumers are increasingly looking for personalized gift packaging. Customizable designs, sizes, colors, and embellishments allow for unique and tailored gift presentations, fueling demand for more diverse gift box offerings.
- Premiumization of Gifting Experiences: As consumers seek high-quality and luxurious gifting options, the demand for premium gift boxes, especially those made from high-end materials like velvet, silk, and high-quality paper, has risen. This trend is driving growth in the market for upscale packaging solutions.
Key Players in the Global Market
- Qingdao Hongrui Industry Co. Ltd.
- Shenzhen Fuxiang Gifts & Packaging Co. Ltd.
- Bayley’s Boxes
- Varanna Industries
- Shanghai Xianrong Packing Co. Ltd.
- Om Express Print Pack Private Limited
- Valtenna Industria Cartotecnia
- Shenzhen Tianya Paper Products Co. Ltd.
Recent Development
- Xiaomi and Qualcomm collaborated to commemorate the Chinese New Year in January 2022. The “Xiaomi 12 Years Shopping Festival Selection Gift Box” was the official name of the gift box which was launched through this collaboration. In the box, you receive the Xiaomi 12, a unique red protective case, and a sparkling Snapdragon 8 Gen 1 commemorative memento. For the Year of the Tiger, the box itself has been engraved with the year 2022 and a tiger head in place of the zero.
- Chameleon Like launched a custom packaging and gift box line in October 2019 with a wide selection of 200 stock styles of gift boxes to fulfill dropship services in Houston.
- CSS Industries, Inc., a manufacturer of seasonal and gift products, was acquired by IG Design Group PLC in 2020. This acquisition is likely to broaden the company’s product portfolio and establish its presence in the United States craft market, as well as provide access to many new channels and markets.
Gift Boxes Market Segmentation
By Raw Material:
- Paper
- Plastic
- Others
By End Use:
- Consumer Goods
- Food & Beverages
- Bakery & confectionery
- Alcoholic Drinks
- Frozen Desserts
- Others
- Electronic Devices
- Cosmetics and Personal Care Products
By Product Type:
- Slide Sleeve
- Telescopic
By Printing Technology:
- Lithography Printed
- Flexography Printed
- Electrophotography Technology Printed
- Dry Toner Printed
- Liquid Toner Printed
- Inkjet Photography Technology Printed
- Other Printed
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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