Luxury Packaging Market Overview | Share, Size, Emerging Technologies, Future Trends
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
overview 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.).
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