According to the latest report by IMARC Group, titled “Luxury Packaging Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027,” the global luxury packaging market reached a value of US$ 15.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19.9 Billion by 2027, exhibiting at a CAGR of 4.7% during 2022-2027. Packaging provides protection to the products for during distribution and, storage, sale, and use. It is used by marketers to attract and encourage potential buyers to purchase the product. Luxury packaging It helps in creating the brand value of a the packaged product by giving providing it a luxurious look. It is generally designed for high-end consumer goods that enhances the overall shopping experience while Luxury packaging ensuring improved customer offers overall satisfaction, value reinforces the brand, and builds customer loyalty.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Luxury Packaging Market Trends:
The global market is majorly driven by the increasing demand for the product in packaging high-end products by the mass affluent. This, along with the growing focus of luxurious brands in the overall product development is significantly contributing to the market growth. Furthermore, the increasing usage of sustainable and bio-degradable luxury packaging by end users is creating a positive outlook for the market. Besides this, rising demand for the product across various sectors such as healthcare, FMCG, and household is positively influencing the market growth. Moreover, the the rapid expansion of the e-commerce industry is catalyzing the market growth. Additionally, the rising use adoption of advanced technologies, including laser cutting, notching and 3D printing technologies, in luxury packaging is creating a positive outlook for the market. y increases the shelf life of the product, thus driving the demand for luxury packaging. Other factors, including rapid urbanization, inflating disposable income levels, and the changing consumer purchasing behaviors patterns, are also providing an impetus to the market growth.
Luxury Packaging Market 2022-2027 Analysis and Segmentation::
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ardagh Group
- Crown Holdings
- DS Smith
- HH Deluxe Packaging
- Lucas Luxury Packaging Limited
- MW Luxury Packaging
- Owens-Illinois Inc.
- Pendragon Presentation Packaging Ltd
- Prestige Packaging Industries
- Progress Packaging Ltd.
Breakup by Material:
Breakup by Application:
- Cosmetics and Fragrances
- Watches and Jewelry
- Alcoholic Drinks
- Food and Non-Alcoholic Drinks
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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