Selbyville, Delaware , Dec. 18, 2024 (GLOBE NEWSWIRE) -- Luxury Packaging Market was valued at USD 17.2 billion in 2023 and is projected to be worth USD 25.8 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The shift in consumer preferences and technological advancements present considerable opportunities for growth in this sector. Brands are increasingly opting for personalized, high-quality packaging to enhance product appeal and visibility. The rise of e-commerce further fuels this trend, as packaging plays a crucial role in ensuring the safe delivery of products. Moreover, the incorporation of smart packaging technologies, such as QR codes and NFC, enables brands to offer interactive experiences and provide real-time product information, allowing them to cater to consumer demands and differentiate themselves in a competitive market.
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The luxury packaging market is segmented by material into paperboard, plastic, glass, metal, and other options. The paperboard segment is expected to grow at a robust CAGR of over 5%, reaching more than USD 9 billion by 2032. This growth is driven by the material’s eco-friendly nature and premium appeal. Paperboard’s high level of customizability allows brands to create intricate and visually striking designs that enhance the consumer’s unboxing experience. Additionally, its recyclability and sustainable sourcing align well with the increasing demand for environmentally conscious packaging solutions. As sustainability continues to be a key focus, paperboard’s role in luxury packaging is set to expand.
The luxury packaging market is also categorized by end-use industries, including consumer goods, food and beverages, pharmaceuticals, and others. The food and beverages segment is the fastest-growing, with a projected CAGR of over 5% from 2024 to 2032. This segment growth is backed by growing consumer necessity for premium, artisanal, and gourmet products, prompting brands to invest in high-end packaging that enhances product presentation and aligns with luxury branding. Moreover, increased awareness of sustainability is pushing food and beverage companies to adopt eco-friendly packaging options, which resonate with environmentally conscious consumers.
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North America accounts for more than 30% of the global luxury packaging market share. The U.S. market is thriving due to the growing demand for premium products across sectors like cosmetics, fragrances, and high-end goods. There is a strong emphasis on brand differentiation and sustainability in the region, with leading companies driving innovation and adopting eco-friendly materials to address environmental concerns.
Luxury Packaging Market Players
Companies including Amcor, Cosfibel Group, Crown Holdings, Delta Global, DS Smith, GPA Global, HH Deluxe Packaging, Hunter Luxury, IPL Packaging, Keenpac, Lucas Luxury Packaging, McLaren Packaging, Packhelp, PackMojo, Premier Packaging, Stoelzle Glass Group, Tinshine Tin Box, WestRock are some firms working in luxury packaging industry.
This luxury packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments:
Market, By Material
- Paperboard
- Plastic
- Glass
- Metal
- Others
Market, By Product Type
- Bags
- Bottle
- Pouches
- Boxes
- Others
Market, By Application
- Cosmetics and personal care
- Home decor and furnishings
- Fashion accessories & apparels
- Premium alcohol
- Chocolates and confectioneries
- Nutraceuticals
- Others
Market, By End-use Industry
- Consumer goods
- Food and beverages
- Pharmaceuticals
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
