According to leading market intelligence firm Future Market Insights, the Europe luxury packaging market should register a valuation of USD 2.3 billion in 2023. A slow 3.5% CAGR is likely to take the market forward from 2023 to 2033. This should result in a USD 3.2 billion valuation for the market in 2033.
Europe is home to several prominent valuable luxury brands with an international clientele, such as Gucci (fashion), Ferrero Group (food), and Lisa Elridge (cosmetics). These brands rely on iconic and sophisticated packaging for retaining elite consumers.
Brand managers and marketers are ready to spend big just on the packaging that provides an elegant and personalized look. Brands’ loyal customers expect unique identification marks on the product as well as the packaging.
Explore In-Depth Analysis—Click Here to Access the Report!
Several brand logos, colors, and designs are internationally famous owing to characteristics that enhance recall. European luxury packaging manufacturers are focusing on providing personalized pouches and bags specifically designed to carry high-end products in them.
The key players offering customized services can charge higher than usual prices for producing the packaging as per the exact needs of clients. This encourages more players in the European luxury packaging market to offer personalized packaging services.
Key Takeaways from Europe Luxury Packaging Market
- Between 2015 and 2022, the Europe market for luxury packaging accelerated at an extremely sluggish 1.8% CAGR.
- The market’s value was around USD 2.2 billion in 2022.
- The paper & paperboard segment is likely to dominate 40% of the market on the basis of material.
- The boxes & cartons segment is should accelerate at a slow but steady 4.8% CAGR between 2023 and 2033.
- The premium food, beverages, and home & personal care segments should combine to hold around 3/5th of the market from 2023 to 2033.
- The United Kingdom is projected to be a lucrative market for the luxury packaging and it is likely to expand around 1.6 times its current size in the years ahead.
“Luxury packaging companies should steer clear of using plastic to create products. This is due to the fact that governments across Europe are introducing stringent regulations for reducing plastic waste.”-says an FMI analyst
Who is Winning?
From 2023 to 2033, FMI expects key players in the Europe market for luxury packaging to invest heavily in acquisitions. Collaborations with luxury brands are also likely as players look to cement their positions at the top end of the market.
The key players operating in the Europe luxury packaging market are DS Smith plc, Crown Holdings, Inc., Stoelzle Glass Group, Aptar Group, Inc., International Paper Company, WestRock Company, Ardagh Group S.A., Owens-Illinois, Inc., Robinson plc, Swiss Packaging LLC, Npack Ltd., Euro Packaging Group, Alya Packaging, GZ Media, a.s., Neenah, Inc, Cantobox®, Via Aquaria UAB, GPA Global, Fleet Luxury Packaging, Max Luxury Packaging, IPL Packaging, Rudholm Group, Knoll Prestige Packaging, Billerud AB, Milo Group, MARBER S.R.L., and The Sherwood Group.
Get More Valuable Insights
Future Market Insights, in its new report, offers an unbiased analysis of the global luxury packaging market, analyzing historical demand from 2015 to 2022 and forecast statistics for 2023 to 2033.
The study reveals growth projections on the luxury packaging market on the basis of material (paper & paperboard, plastic, wood, glass, metal, fabric), packaging format (bags, pouches, boxes & cartons, bottles), end use (premium food, beverages, home & personal care, consumer electronics, fashion accessories & apparels) across prominent European countries.
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
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
