Luxury Packaging Market Overview | Industry Trends, Share, Size, Growth, Opportunity And Forecast 2022-2027

May 10, 2022

Market Highlights

Packaging is no longer done simply to protect products from damage, but has become an essential part of luxury branding. Luxury packaging is mostly used to package highly expensive and sophisticated products. The packaging employed is a part of a company’s brand image. Companies spend more on packaging innovation rather than on production cost. They are adopting active packaging and intelligent packaging so as to enhance the performance of the packaging technique. Rise in the number of product launches, especially in the cosmetic and fashion sectors, drives the growth of the luxury packaging market. Additionally, rise in penetration of online retail and travel retail also contributed in the global luxury packaging market. However, fluctuating price of raw materials, are the factors may be a hindrance in the growth of the market.

On the basis of regions, Europe dominates the global Luxury Packaging Market Overview, mainly due to rise in the number of flagship stores and surge in online sales. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increase in spending capacity, drives the growth of the region. North America is another major market for the luxury packaging. Increase in sales of personal luxury products in the region, drives the growth of the market. Latin America and Middle-East & Africa regions are also expected to set the growth during the forecast period due to rising demand from the e-commerce sector and expansion by global luxury manufacturers. Global luxury packaging market is projected to grow at a CAGR of 4.8% during the forecast period.

Market Research Analysis

Global luxury packaging market overview has been segmented based on material, end-user, and region. On the basis of material, the market segments are paperboard material, plastic, glass and others. Paperboard dominates the material segment of the market and is expected to be the fastest growing material segment. Growing demand for sustainability packaging drives the growth of the paperboard segment. It is light weight and is gaining prominence due to the rising need for renewable and recyclable solutions for various packaging needs. This material is used for packaging cosmetics, food, beverages, pharmaceuticals, and household products. Plastic is one of the most widely used materials for packaging across various end-use industries. The material offers high barrier, cost efficient, temperature resistance and durable packaging options.

On the basis of end-user, the Luxury Retail Packaging market has been segmented as food & beverage, confectionery, personal care & cosmetics, and others. Personal care packaging refers to casing of products used for personal hygiene and beautification. The applications of these include hair care, foams & gels, gel toothpaste, deodorants & antiperspirants and skin care products. Increasing demand for personal care & cosmetics packaging, across the globe drive the demand of luxury packaging. Food & beverage industry is expected to contribute, significantly, during the forecast period.

Scope of the Report

This study provides an overview of the global market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global luxury packaging market by its material, product, manufacturing process, application and region.

By Material

Paperboard Material
Plastic
Glass
Others

By End-user

Food & Beverage
Confectionery
Personal Care & Cosmetics
Others

By Region

North America
Asia Pacific
Europe
Rest of the World

Key Players

The prominent players in the luxury packaging market include Amcor Limited (Australia), HH Deluxe Packaging (U.K.), Ekol Ofset (Turkey), DS Smith Plc (U.K.), Pendragon Presentation Packaging Ltd (U.K.), Design Packaging, Inc. (U.S.), Elegant Packaging (U.S.), MW Creative Ltd (U.K.), Winter & Company AG (Switzerland), Lucas Luxury Packaging (Ireland), and CLP Packaging Solutions Inc. (U.S.).

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

https://www.marketresearchfuture.com/reports/overhead-cranes-market-8265

https://www.marketresearchfuture.com/reports/cosmetics-personal-care-ingredients-market-3889