The global gift packaging market is poised for significant growth, with its value projected to surge from USD 25.3 billion in 2023 to an impressive USD 37.4 billion by 2033. This expansion is expected to be fueled by a CAGR of 4.3% over the next decade, reflecting the increasing demand for innovative and personalized packaging solutions.
In response to the evolving needs of modern consumers, gift packaging vendors are stepping up their game, providing businesses with creative and unique packaging options that align with the latest marketing trends.
As competition intensifies in the global marketplace, with rival businesses just a few clicks away, it has become essential for packaging suppliers to offer cutting-edge solutions that help companies maintain their competitive edge and attract new customers.
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Customized gift packaging has become a significant trend, allowing businesses to add a personal touch to their products. This approach not only enhances the customer experience but also strengthens the emotional connection between brands and their consumers. Additionally, there is a growing shift toward eco-friendly packaging solutions, as consumers become more conscious of sustainability and the environmental impact of the products they purchase.
The rapid rise of e-commerce has also played a pivotal role in the market’s growth. As more businesses transition to online platforms, gift packaging suppliers are capitalizing on the digital marketplace to expand their reach and benefit from economies of scale.
By keeping up with the latest trends and adapting to the preferences of eco-conscious and experience-driven consumers, gift packaging companies can retain existing clients, attract new business, and solidify their market presence.
“Gift packaging businesses are providing packaging solutions to help reinforce the connection between businesses and customers. By keeping pace with the existing trends and modifying their products, gift packaging suppliers can elevate their overall sales,” says Ismail Sutaria, Principal Consultant at Future Market Insights
Key Takeaways from the Gift Packaging Market Report
- In North America, the United States and Canada are expected to form the regional market. The United States market has been estimated to acquire 14.3% of the global share, whereas Canada gained 1.5% of the global market.
- Germany is predicted to be the star contender in the European gift packaging market, gaining 4.2% of the global market in 2023. Spain has a substantial potential for growth, as key vendors comparatively less penetrate it.
- China and India have a significant market size in Asia Pacific. In 2023, China is predicted to gain a 12.2% market share, and India is projected to acquire an 8.5% market share.
- Thailand is an emerging market spotted by FMI analysts, projected to account for 1.3% market share in 2023.
- Based on material, the paper and paperboard segment is projected to obtain a market share of 43% in 2023.
- Based on product type, gift boxes are projected to accumulate a market share of 21.3% in 2023.
Competition Analysis of the Gift Packaging Market
The gift packaging market is highly competitive owing to the presence of domestic as well as regional players. Therefore, manufacturers are adopting expansion strategies, M&A, partnerships, and collaborations to increase profits. Key players are emphasizing innovation and new product development to elevate their market presence. All these strategies are predicted to boost their product portfolios and enhance their market reach.
Key Developments in the Gift Packaging Market
- Manjushree Technopack Limited, a prominent packaging firm in India, acquired Classy Containers, one of the biggest custom-model rigid packaging firms, in August 2021. This development will help Manjushree Technopack Limited strengthen its position in this robustly flourishing market.
- Gift Wrap My Face, a self-portrait wrapping paper promoted by Khloe Kadarshian, Oprah, and Whoopi Goldberg, was developed by two ad agency creatives and acquired by Build A Head LLC in November 2021. The involved brands offer customized products for holidays, birthdays, anniversaries, birth announcements, graduations, and more. Apart from this, the brands exemplify the firm’s dedication to providing delights in all achievements of life goals.
- In April 2022, GLS and Elopak revealed a joint venture in which both firms have 50% ownership. The resultant company, GLS Elopak, will leverage the respective assets, expertise, and networks of GLS and Elopak to capture the substantial consumer demand in India. The company was founded to produce and process high-quality aseptic and fresh packaging solutions designed to ascertain the safety and accessibility of liquid food to consumers worldwide.
Key Players
- Hallmark Cards
- Packlane
- Smurfit Kappa Group
- Ebro Colour GmbH
- Interpack
- Card Factory
- DS Smith plc
- IG Design Group plc
- Karl Knauer KG
- Mondi plc
- Manjushree Technopack Limited
- Qwikcilver Solutions
- Diageo
Key Segments in the Gift Packaging Market
By Packaging Type:
- Primary
- Secondary
- Tertiary
By Product Type:
- Gift Boxes
- Containers
- Ribbon & Bows
- Gift Sacks
- Gift Bags
- Wrapping Paper
- Tissue Paper & Shreds
- Cellophane Over Wrap & Bags
- Gift Cards & Money Holders
- Others
By Material:
- Plastic
- Paper & Paperboard
- Metals
- Glass
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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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