Gift Boxes Market Value Projected to Reach US$ 3,753.80 million by 2033: Growth Factors, Industry Share, Regional Analysis and Future Scope

The gift boxes market size is poised to cross a valuation of US$ 2,018.62 million in 2023 and is predicted to hit a valuation of US$ 3,753.80 million by 2033. The gift boxes market share is estimated to expand at a CAGR of 6.4% from 2023 to 2033.

For ages, gifting has been a fundamental component of human traditions. People tend to spend more on gifts as economies expand and disposable income rises. The market for gift boxes has grown as giving presents has been customary for many occasions, including birthdays, weddings, anniversaries, holidays, and festivals. The growing gifting is predicted to be the leading growth driver for the gift box market.

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The market for gift boxes is being substantially influenced by the growth of internet shopping and e-commerce. Now, customers can browse and buy gift boxes and other related products from the convenience of their homes. A vast variety of gift box options are available on e-commerce platforms, and this convenience propels the market’s expansion.

Market growth for gift boxes is largely driven by corporate gifting. Companies frequently give gifts to staff members, customers, and partners on special occasions or to show appreciation to them. These corporate gifting practices aid in market expansion, particularly around the holidays and year-end celebrations.

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.

Recent Developments Observed by FMI:

• In January 2022, Xiaomi and Qualcomm teamed up to celebrate the Chinese New Year. The gift box that was introduced as a result of this partnership was officially known as the “Xiaomi 12 Years Shopping Festival Selection Gift Box”. You get the Xiaomi 12, a special red protective case, and a glittering Snapdragon 8 Gen 1 commemorative souvenir in the box. The box has been inscribed with the year 2022 and a tiger head instead of the zero in honor of the Year of the Tiger.
• In March 2022, Brooklyn Delhi released a new gift box in advance of the holiday season. Brooklyn Delhi provides a full range of premium Indian pantry staples for the contemporary kitchen, including simmer sauces like Golden Coconut Curry and Tikka Masala as well as condiments like the newly launched Curry Mustard and Spicy Mango Chutney. Every Brooklyn Delhi product is made from only the finest, organic ingredients.

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Key Players:

• 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.

 Regional Analysis:

1. North America:

• Key Markets: The United States and Canada are significant markets for gift boxes.
• Holiday and Gifting Culture: North America has a strong tradition of gift-giving, with holidays like Christmas, Thanksgiving, and Valentine’s Day driving demand for gift boxes.
• E-commerce: The growth of online shopping has increased the demand for gift boxes for shipping and presentation.

2. Europe:

• Key Markets: Major European markets include the United Kingdom, Germany, France, and Italy.
• Cultural Diversity: Europe’s cultural diversity results in a wide range of gift-giving occasions, such as birthdays, weddings, and religious celebrations, boosting the demand for gift boxes.
• Luxury and Premium Gifts: Europe has a strong luxury market, driving the need for high-end gift packaging.

3. Asia-Pacific (APAC):

• Key Markets: China, India, Japan, and South Korea are significant markets in APAC.
• Population and Festivals: APAC’s large population and numerous festivals and celebrations contribute to a robust gift box market.
• E-commerce Boom: The rise of e-commerce in APAC has increased the demand for gift boxes for packaging and presentation.

4. Latin America:

• Emerging Markets: Latin American countries, including Brazil and Mexico, are emerging as important markets for gift boxes.
• Cultural Celebrations: Festivals and cultural celebrations drive the demand for gift packaging in the region.

5. Middle East and Africa (MEA):

• Growing Demand: MEA countries are witnessing a growing demand for gift boxes due to urbanization and rising disposable incomes.
• Luxury Market: High-end gift boxes are in demand in the luxury market in MEA.

6. Regional Preferences and Trends:

• Different regions may have unique preferences for gift box designs, materials, and sizes based on cultural factors and local traditions.
• Eco-friendly and sustainable gift boxes are gaining popularity in many regions.

7. Seasonal Variations:

• Seasonal variations, such as holiday seasons and festivals, significantly impact the demand for gift boxes.

8. Customization and Branding:

• Businesses often customize gift boxes with branding, logos, and personalization options to enhance the gifting experience.

9. Economic Factors:

• Economic conditions, including consumer sentiment, income levels, and retail sales, affect gift box demand.

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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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