The current value of the Europe luxury packaging market stands at US$ 2.3 billion, and it is estimated to reach US$ 3.2 billion by 2033. The market is projected to grow at a compound annual growth rate (CAGR) of 3.5% between 2023 and 2033.
Luxury or specialty packaging refers to the development, design, and production of packaging and displays specifically tailored for high-end brands. In Europe, the luxury packaging market offers various advantages, including increasing product value, enhancing brand image, providing personalized packaging to boost consumer engagement, diversifying product offerings, and creating appeal among the target audience.
Currently, paper and paperboard materials dominate the luxury packaging market in Europe. This can be attributed to their biodegradability, which aligns with the growing demand for sustainable packaging practices.
In recent years, there has been a notable focus on security packaging within the luxury segment. High-value products are more susceptible to theft, and security packaging plays a crucial role in curbing pilferage and protecting the contents.
However, economic uncertainties in Europe may pose challenges for the market. During periods of economic instability, consumers tend to prioritize basic needs over luxury goods and packaging.
Analyze Competitive Landscape: Request a sample report to analyze the competitive landscape and devise effective strategies to gain a competitive edge @ https://www.futuremarketinsights.com/reports/sample/rep-gb-16772
Future Market Insights conducted a comprehensive market study titled “Europe Luxury Packaging Market” to provide valuable insights and future perspectives. The study utilized a 360-degree approach, incorporating primary, secondary, and tertiary research methods, involving a team of analysts and consultants
An analyst from Future Market Insights commented, “With packaging being considered as equally important as the product itself, the Europe luxury packaging market is expected to witness significant growth in the forecast period”
Key Takeaways from Europe Luxury Packaging Market
The UK is subject to an ever-expanding textile & fashion industry. As per the UKFT (United Kingdom Fashion & textile Association), fashion & textile industry does contribute to close to US$ 128 Billion to the economy of the country.
Competitively Luxury Packaging
- Mainetti Group, in January 2023, did announce acquiring Centurybox Group (based out of Belgium) for enhancing sustainability with respect to luxury packaging.
- TriMas Packaging, in February 2023, did announce that it had acquired Aarts Packaging (a specialty packaging company based out of The Netherlands).
- GPA Global, in November 2021, did announce acquiring a packaging manufacturing site on Poland’s capital’s outskirts (Warsaw). ASG Spark owned this site before. The area consists of 8000 square meters.
- Securikett, in August 2021, did announce launching security seal to render packaging tamper proof. Paper-based seal comes across as an eco-friendly solution to today’s security requirements in packaging sector.
United Kingdom’s Fashion Industry Drives Luxury Packaging Sales
The burgeoning fashion and textile industry in the United Kingdom is playing a significant role in supplementing sales of luxury packaging. With the industry contributing a substantial amount to the country’s economy, estimated at US$ 128 billion according to the UK Fashion & Textile Association (UKFT), there is a growing demand for high-end packaging solutions.
Consumer spending on fashion and textiles in the United Kingdom is on the rise, reaching a staggering US$ 45 billion annually. This increased spending is driving the need for luxurious and visually appealing packaging to match the premium nature of fashion and textile products. With around 34,000 businesses operating in the United Kingdom’s fashion and textile sector, it is positioned to be a leading destination for luxury packaging companies in Europe.
As a result, the United Kingdom’s thriving fashion industry is propelling the growth of luxury packaging sales, showcasing its importance in creating a premium and captivating product experience for fashion and textile consumers
Want your report customized? Speak to an analyst and personalize your report according to your needs@https://www.futuremarketinsights.com/customization-available/rep-gb-16772
The report on the Europe luxury packaging market provides valuable insights and benefits to leaders and new entrants in the following ways:
- Comprehensive Segmentation: The report offers a comprehensive segmentation of the Europe luxury packaging market, providing accurate market size projections for all sub-segments across different regions. This segmentation allows stakeholders to have a clear understanding of the market dynamics and identify specific areas of opportunity.
- Market Pulse Understanding: By studying this report, stakeholders can grasp the pulse of the market and gain valuable information on key drivers, restraints, challenges, and opportunities for growth in the Europe luxury packaging market. This insight helps them make informed decisions and develop effective strategies to capitalize on market trends.
- Competitive Analysis: The report enables stakeholders to better understand their competitors and gain insights to enhance their position in the business. The competitive landscape section of the report highlights product launches, developments, collaborations, contracts, and acquisitions within the Europe luxury packaging market. This information helps stakeholders identify their competitive edge and formulate strategies to stay ahead in the market
Europe Luxury Packaging Market by Category
By Material:
- Paper & Paperboard
- Plastic
- Wood
- Glass
- Metal
- Fabric
By Packaging Format:
- Bags
- Pouches
- Boxes & Cartons
- Bottles
By End-Use:
- Premium Food
- Beverages
- Home & Personal Care
- Consumer Electronics
- Fashion Accessories & Apparels
Cost-Effective Insights: Take advantage of discounted rates to access cost-effective market insights and drive informed business decisions @ https://www.futuremarketinsights.com/request-discount/rep-gb-16772
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
