The Luxury Packaging Market is likely to accelerate at a steady CAGR of 5.5% and reach a US$ 17.9 billion by 2033 | Future Market Insights, Inc.

Soaring Need for Sustainability in Luxury Packaging to Drive Market to a US$ 17.9 Billion Valuation in 2033. The paper & paperboard segment is expected to garner a significant value share by 2023. The United States Luxury Packaging Market is expected to generate an additional US$ 2.4 billion

NEWARK, Del, Feb. 27, 2023 (GLOBE NEWSWIRE) — The packaging industry has been subject to criticism in recent years owing to its rampant use of plastic and other materials that are not environment-friendly. The luxury packaging market, which is a part of the global industry, was also not spared.

However, according to Future Market Insights (FMI), things are rapidly changing. Premium packaging solutions for luxury products are embracing sustainability as brands are looking to reduce their environmental footprint. Consumers too, are becoming more aware of the potential damage that unsustainable packaging solutions may trigger.

As a result, players in the luxury packaging market are embracing materials such as paper and paperboard. These materials, apart from being environment-friendly, are also ideal for laminations and coatings, which can make them look sophisticated. Luxury packaging companies are also focusing on personalization and customization, which give buyers a sense of exclusivity.

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Luxury brands are also turning to premium packaging boxes, cartons, and other types of high-end solutions for enhancing their products’ shelf appeal. Between 2023 and 2033, FMI anticipates rising e-commerce penetration to play a prominent role in accelerating the global market for luxury packaging as well.

Key Takeaways from Luxury Packaging Market

• From 2017 to 2022, the worldwide luxury packaging market accelerated at a slow 4.0% CAGR.
• The global market for luxury packaging was observed to have a value of US$ 9.8 billion in 2022.
• In 2023, the market is likely to reach a valuation of US$ 10.4 billion.
• Between 2023 and 2033, the market is slated to accelerate at a steady 5.5% CAGR.
• A US$ 17.9 billion valuation is likely for the market in 2033.
• Based on material, paper & paperboard are predicted to dominate the global market with a likely 50% share in 2033.
• In terms of product type, FMI expects the boxes & cartons segment to generate a US$ 3.2 billion absolute dollar opportunity.

“Sophisticated packaging makes sure that the products inside stay safe and protected from potential damage. However, that’s not all. It also adds to a product’s value. For luxury brands, premium packaging is also an advertisement platform as consumers are likely to flaunt it.”–Says an FMI Analyst

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Who is Winning?

The worldwide market for luxury packaging is quite fragmented. However, despite this fragmentation, several companies have managed to carve niches of their own and dominate proceedings. According to FMI, luxury packaging companies are likely to invest heavily in research & development to make their solutions more competitively priced without compromising on sustainability.

Key players in the global luxury packaging market include Crown Holdings, Inc., International Paper Company, WestRock Company, Owens-Illinois, Inc., DS Smith plc, Stoelzle Glass Group, Ardagh Group S.A., Swiss Packaging LLC, Aptar Group Inc., and Robinson plc. Also, some of the noticeable players in the market are Sunrise Packaging Inc., Fleet Luxury Packaging, GPA Global, Npack Ltd., Neenah Paper, GZ Media, a.s., Burt Rigid Box Inc., and Taylor Box Company.

Luxury Packaging Market by Category

By Material:

• Plastic
  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyethylene Terephthalate (PET)
  • Bioplastics
• Paper & Paperboard
  • Corrugated Board
  • Specialty Papers
  • Boxboard/Carton Board
  • Kraft Papers
  • Molded Pulp
• Metal
• Glass
• Fabric
• Wood

By Product Type:

• Bags
• Pouches
• Boxes & Cartons
• Bottles
• Composite Cans

By End Use:

• Fashion Accessories & Apparels
  • Watches
  • Jewellery
  • Sunglasses
  • Shoes
  • Perfumes
  • Apparels
• Food & Beverages
  • Cookies & Biscuits
  • Chocolates
  • Sweets
  • Alcoholic Beverages
• Consumer Goods
  • Flowers
  • Ceramics
  • Glass & Metal Crafts
• Consumer Electronics

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Table of Content

1. Executive Summary | Luxury Packaging Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Impact of Covid-19

    3.3. Macro Factors and Forecast Factors

    3.4. Value Chain Analysis

    3.5. Regional Parent Market Outlook

    3.6. Production and Consumption Statistics

    3.7. Global Average Pricing Analysis Benchmark

4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ billion) & Volume (Units) Analysis, 2017 to 2022

    4.2. Current and Future Market Size Value (US$ billion) & Volume (Units) Projections, 2023 to 2033

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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Old Source: Luxury Packaging Market to reach US$ 18.3 Bn by 2032 – Future Market Insights, Inc.

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Paper Cups Market Share: The global paper cups market is expected to reach US$ 10 billion in 2023 and is likely to record a CAGR of 4.4% between 2023 and 2033. The market is projected to reach a valuation of US$ 14 billion by 2033.

Deblistering Machines Market Analysis: The deblistering machines market may register growth in 2023, with a valuation exceeding US$ 165.0 million. It is estimated that the market’s value will increase by 5.0% between 2023 and 2033 at a CAGR of 5.0%.

Transport Cases & Boxes Market Growth: The transport cases & boxes market size is projected to be valued at US$ 1.7 billion in 2023 and is expected to rise to US$ 2.4 billion by 2033. The sales of transport cases & boxes are expected to grow at a significant CAGR of 3.5% during the forecast period.

Europe & USA Consumer Electronics Packaging Market Demand: Europe consumer electronics packaging market is forecast to reach US$ 4. billion in 2023. Europe consumer electronics packaging market value will reach US$ 6.4 billion by 2033. The USA consumer electronics packaging market is set to be valued at US$ 2.4 billion in 2023. Between 2023 and 2033

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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