Unboxing Opportunities: Global Gift Boxes Market Size Estimated to Reach $2.6 Billion by 2030, At a CAGR of 6.5%

New York, NY, June 15, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Gift Boxes Market By Material (Paper, Plastics, And Others), By Application (Consumer Goods, Electronic Devices, Food & Beverages, Cosmetic & Personal Care, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Gift Boxes Market size & share in terms of revenue was valued at USD 1.6 billion in 2022 and it is expected to surpass around USD 2.6 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.5% during the forecast period 2023 to 2030.”

What are Gift Boxes? How big is the Gift Boxes Industry?

Report Overview:

The term "gift box market" refers to the sector of the packaging industry that deals in the manufacture, distribution, and retail sale of containers that are intended only for the purpose of gift wrapping and presentation. These containers are often constructed from a variety of materials, including cardboard, paperboard, plastic, or wood, and they are available in a broad variety of dimensions, contours, hues, and patterns. Gift boxes can be used for a variety of things. Not only do they offer a simple, elegant, and practical way to package and transport gifts, but they also make the experience of giving gifts more enjoyable as a whole. They are frequently utilised for important events such as birthdays, anniversaries, weddings, holidays, and other kinds of parties and gatherings. Retail stores, gift shops, internet marketplaces, and establishments that specialise in packaging all stock gift boxes for their customers to purchase. They may be offered for purchase singly or as part of gift sets or packages that include supplemental things such as tissue paper, ribbons, or tags that can be personalised for the recipient.

The demand for gift boxes is being driven by the desires of consumers for gifts that are aesthetically beautiful and are presented in a professional manner. People frequently place a high value on the process of unwrapping a present as well as the anticipation that it generates. As a consequence of this, the gift boxes market caters to a diverse set of preferences and tastes. As a result, consumers can choose gift boxes that are elegant, whimsical, rustic, minimalist, or themed to fit a variety of occasions and target groups. The gift box business has been shifting its focus in recent years towards products that are more sustainable and less harmful to the environment. Currently, an increasing number of consumers are looking for environmentally friendly products, which has led to the development of environmentally conscious packaging materials and designs that reduce waste and encourage recycling.

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Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Gift Boxes market is likely to expand at a CAGR of around 6.5% during the forecast period (2023-2030).                                            
• In terms of revenue, the Gift Boxes market size was valued at around US$ 1.6 billion in 2022 and is projected to reach US$ 2.6 billion by 2030.
• The growing gift culture trends and rising e-commerce industry are expected to fuel the gift box market growth over the forecast period.
• Based on the material, the plastics segment is expected to capture the largest market share over the forecast period.
• Based on the application, the cosmetic & personal care segment is expected to capture the largest market share during the forecast period.
• Based on region, North America is expected to dominate the market over the forecast period.

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Global Gift Boxes Market: Growth Factors

Increasing tendencies in gift culture are the primary driver of industry expansion.

The practise of giving presents is becoming more widespread over the world as a result of the proliferation of social events, public holidays, and private milestones. People are looking for solutions in attractive and presentable packaging to make the gift-giving experience more enjoyable, and this cultural trend is fueling the gift boxes market. For instance, Canadians spend an average of $95 on specific celebrations such as birthdays, but they spend a far higher amount on weddings. According to research conducted by companies that specialize in wedding presents, married couples spend an average of 161 dollars more on each gift than unmarried couples do (121 dollars on average). The range of yearly sales that can be expected from gift, souvenir, and novelty shops is from 30,000 to 500,000 dollars. This is based on patterns observed in gift shops. As a result, the increasing gift culture trends are anticipated to drive expansion in the worldwide gift box market over the course of the projected year.

There is a possibility that environmental rules and sustainable practices are stifling market expansion.

Although sustainability is also a driving force in the gift box sector, the industry faces potential hurdles as a result of the ever-changing environmental rules. Regulations governing recycling, waste management, and the materials that can be used for packaging are mandatory for manufacturers to follow. In order to remain in compliance with these requirements, it may be necessary to make investments in environmentally friendly infrastructure, environmentally friendly practices, and environmentally friendly materials. These investments might contribute to the overall cost of manufacturing. As a result, it is anticipated that this may hinder the market for gift boxes to some degree.

The expansion of electronic commerce and shopping done online provide a sizeable possibility for the growth of the market.

The development of e-commerce and other platforms for online buying has made a substantial contribution to the expansion of the gift box sector. Due to the fact that gift boxes are frequently sold as complementary items or as part of gift packages, the demand for gift boxes has expanded as a result of the convenience and extensive product variety offered by online merchants. For instance, according to the Census Bureau of the Department of Commerce, an estimate of retail e-commerce sales in the United States for the first quarter of 2023 was $272.6 billion. This figure was arrived at after adjusting for seasonal fluctuation but not for price adjustments. This represented an increase of 3.0 percent (0.7%) from the fourth quarter of 2022. When compared to the forecasted total retail sales of $1,799.5 billion for the first quarter of 2023, this is a growth of 0.9 percent (0.4 percent) over the figure for the fourth quarter of 2022. When compared to the first quarter of 2022, the prediction for e-commerce in 2023 increased by 7.8 percent, which is equivalent to around 1.6% of total retail sales, while overall retail sales increased by 3.4 percent, which is equivalent to approximately 0.4%. 15.1% of total sales were generated from online retail activity during the first three months of the year 2023. As a result, the rise of the gift box market throughout the course of the projection period is supported by the statistics presented above.

The ever-changing tastes of customers could provide a significant obstacle for producers.

The preferences of consumers and the trends they follow might shift quickly, which can have an effect on the demand for particular kinds of gift boxes. In order for manufacturers to maintain their competitive edge, they need to maintain a constant awareness of the shifting preferences of consumers, the aesthetics of design, and the latest trends in gift giving. If you are unable to adjust to customers' shifting preferences, it is possible that demand for particular styles or designs of gift boxes would decrease. As a result, the shifting preferences of consumers are anticipated to provide a significant barrier to the expansion of the gift box market throughout the course of the projected year.

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Report Scope

Gift Boxes Market: Segmentation Analysis

The global gift boxes industry is segmented based on material, application, and region.

Based on the material, the global market is bifurcated into paper, plastics, and others. The plastics segment is expected to capture the largest market share over the forecast period. The segment growth is attributed to the advantages offered by plastic materials. Plastics provides a wide range of material options suitable for gift boxes. Different types of plastics, such as polyethylene terephthalate (PET), polypropylene (PP), and polystyrene (PS), offer unique properties, including transparency, durability, flexibility, and printability. This versatility allows manufacturers to create gift boxes with various shapes, sizes, and designs to cater to diverse customer preferences. Moreover, customization and design flexibility is also fueling the market growth. Plastics can be easily molded and formed into intricate shapes, allowing for highly customizable and visually appealing gift box designs. Plastic gift boxes can feature unique patterns, textures, embossing, and transparent windows to showcase the contents. The flexibility in design and customization options allows for creative and eye-catching packaging solutions.

Based on the application, the global gift boxes industry is bifurcated into consumer goods, electronic devices, food & beverages, cosmetic & personal care, and others. The cosmetic & personal care segment is expected to capture the largest market share during the forecast period. The cosmetic and personal care segment within the gift boxes market is characterized by attention to aesthetics, functionality, and brand image. The packaging is designed to reflect the brand's identity, appeal to target consumers, and enhance the overall perceived value of the products. Customizability, durability, and product protection are key considerations in this segment to ensure that the gift boxes meet the specific requirements of cosmetic and personal care products. Thereby, driving the segment growth during the forecast period.

The global Gift Boxes market is segmented as follows:

By Material

• Paper
• Plastics
• Others

By Application

• Consumer Goods
• Electronic Devices
• Food & Beverages
• Cosmetic & Personal Care
• Others

Browse the full “Gift Boxes Market By Material (Paper, Plastics, And Others), By Application (Consumer Goods, Electronic Devices, Food & Beverages, Cosmetic & Personal Care, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at- https://www.zionmarketresearch.com/report/gift-boxes-market-size

Competitive Landscape

Some of the main competitors dominating the global Gift Boxes market include - 

• Mia Bella Box
• Confetti Gifts
• Happy Box
• MARIGOLD & GREY
• BOXFOX
• Confetti Gift Company
• Brown Box Gift Corporation
• Bestowe
• Shenzhen Fuxiang Gifts & Packaging Co. Ltd.
• Varanna Industries
• Om Express Print Pack Private Limited
• Shenzhen Tianya Paper Products Co.Ltd.
• Qingdao Hongrui Industry Co. Ltd.
• Bayley's Boxes
• Shanghai Xianrong Packing Co.Ltd.
• Valtenna Industria Cartotecnia among others.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Gift Boxes industry?
• What are the main driving factors propelling the Gift Boxes Market forward?
• What are the leading companies in the Gift Boxes Industry?
• What segments does the Gift Boxes Market cover?
• How can I receive a free copy of the Gift Boxes Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Material, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is expected to dominate the gift box market during the forecast period. The regional growth for the gift box market is driven by the strong consumer culture and a wide range of occasions for gift-giving. Moreover, the market is also fueled by several factors including growing disposable income, increasing e-commerce, and the demand for aesthetically pleasing and personalized packaging. For instance, according to Oberlo, after registering a 7.44% yearly growth in 2022, total US e-commerce sales reached a new high of $1.03 trillion. When compared to 2012, as online sales in the US reached a staggering $231.4 billion, this is an outstanding gain. In addition, online sales as a whole exceeded $200 billion for the first time in 2012 alone.

The Asia Pacific is expected to grow at the highest CAGR over the forecast period. The rapid economic growth in countries like China, India, and Southeast Asian nations has led to the expansion of the middle class and increased disposable incomes. As a result, consumers in these countries are increasingly seeking premium and personalized gift boxes, contributing to market growth. Furthermore, the region is home to diverse cultural traditions and festivals, each with its own set of customary gift items. Gift boxes are specifically designed to accommodate traditional products such as tea, silk garments, sweets, and regional specialties. The demand for these culturally relevant gift boxes remains high, especially during festive seasons.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In December 2022, a trio of new seasonal gift boxes from NutriGlow are available in big and small sizes and include a wine gift box, a papaya gift box, and a vitamin C gift box. This holiday season, the company wants to attract gift-givers by providing all-inclusive personal care products in each box to address every skin and haircare problem.
• In April 2022, the usage of 183 million cardboard gift boxes from Diageo's premium Scotch range has been phased out globally, according to an initiative that was just launched. Johnnie Walker Black Label Blended Scotch Whisky, Johnnie Walker Red Label Blended Scotch Whisky, Buchanan's Blended Scotch Whisky, and Bell's Original Blended Scotch Whisky are just a few of the brands that will be available. The premium Scotch portfolio's gradual elimination of cardboard gift boxes will make it possible to gauge consumer reaction internationally. In 2023, more Diageo brands will be included in the program if it is successful.

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