Luxury Packaging Market Competitive Dynamics and Global Outlook 2023

Summary

Global Luxury Packaging Market Size, Share, Growth, Analysis, Trends by Material (Paperboard Material, Plastic, Glass and Others), by End-user (Food & Beverage, Confectionery, Personal Care & Cosmetics, and Others) and By Region - Global Forecast To 2023

Luxury Packaging Market Highlights

The global packaging market is constantly evolving, and is expected to witness high growth over the forecast period. The development of new and diversified packaging styles and high potential in emerging economies, provide huge growth opportunities for luxury packaging consumption, creating exciting opportunities within the packaging industry. Innovation in packaging plays a major role in driving the growth of luxury packaging market. Advanced technology in packaging has enabled companies for innovation in products instead of sticking to traditional methods of packaging. Due to this, many companies are adopting sustainable and smart innovation in their product designs. This will help improve the safety of food as well as it will be attractive for the consumers. 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.

Luxury Packaging Market is projected to grow at a CAGR of 4.8% during the forecast period.

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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.

Luxury Packaging Market 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)
• CLP Packaging Solutions Inc. (U.S.).

Regional Analysis

On the basis of regions, global luxury packaging market is segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Europe dominates the global Luxury Packaging market. Increasing number of flagship stores in the region drive the growth of the market. A surge in online sales is also a growth driver for the market in Europe. Increase in spending on luxury product by tourists, forms a positive influence on the growth of the region. Germany, U.K., and France are the major markets in the region. Additionally, the region is home to major luxury packaging manufactures. This also provides further boost to the growth of the market.

Asia Pacific is expected to have the highest CAGR during the forecast period. China, Japan, India, Australia and Indonesia are the major markets in Asia Pacific region. Increase in spending capacity in the region, drives the growth of the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China accounts for the largest share of the luxury packaging market in the Asia Pacific region.

North America is another major market for the luxury packaging. Increase in sales of personal luxury products in the region, drive 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.

Market Segmentation

Global Luxury Packaging Market 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.

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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

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