Luxury Packaging Market
PUBLISHED: 2024 ID: SMRC26793
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Luxury Packaging Market

Luxury Packaging Market Forecasts to 2030 - Global Analysis By Product (Boxes, Folding Cartons, Bags & Pouches, Bottles & Jars, Tubes and Other Products), Material, Design, End User and By Geography

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4.8 (81 reviews)
Published: 2024 ID: SMRC26793

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Luxury Packaging Market is accounted for $18.57 billion in 2024 and is expected to reach $22.38 billion by 2030 growing at a CAGR of 6.2% during the forecast period. Luxury packaging refers to high-quality, aesthetically appealing packaging designed to enhance the perceived value of premium products. It typically involves the use of premium materials, innovative designs, and meticulous craftsmanship to create an unforgettable unboxing experience. Luxury packaging serves not only to protect the product but also to convey brand identity and prestige. It often incorporates elements such as intricate detailing, unique shapes, and sustainable practices to appeal to discerning consumers.

According to statistics published by the World Integrated Trade Solutions, in 2020, China’s luxury goods exports were significant with 5.9% CAGR.

Market Dynamics: 

Driver: 

Brand differentiation

Brand differentiation enables premium brands to create unique, eye-catching packaging that enhances their identity and appeal. Distinctive packaging design helps products stand out on retail shelves and online platforms, attracting consumers seeking exclusivity and prestige. It often incorporates high-quality materials and innovative designs that convey craftsmanship and sophistication, reinforcing brand values. This differentiation fosters consumer loyalty and justifies higher price points, driving demand for luxurious packaging solutions that elevate the overall product experience.

Restraint:

Shifts in consumer preferences

Many consumers are now favouring simpler, eco-friendly designs over traditional opulent packaging, seeking value in functionality and environmental impact rather than extravagance. This change can lead to reduced demand for elaborate luxury packaging, pushing brands to adapt their strategies. Additionally, the increasing popularity of sustainable materials may limit options for traditional luxury packaging, forcing brands to innovate while balancing cost and aesthetic appeal, which can complicate production processes and impact profit margins.

Opportunity:

E-commerce growth

As more consumers shop online, luxury brands seek to create memorable and visually appealing packaging that reflects their brand identity. High-quality packaging not only protects products during shipping but also serves as a marketing tool, enticing customers and encouraging social media sharing. Additionally, e-commerce platforms provide luxury brands with direct access to consumer insights, enabling them to tailor packaging designs to target demographics, further driving demand for innovative luxury packaging solutions.

Threat:

Higher production costs

Higher production costs in luxury packaging arise from the use of premium materials, intricate designs, and specialized manufacturing processes. These factors contribute to significant expenses compared to standard packaging options. As brands aim to create unique, high-quality packaging that enhances brand perception, the costs can escalate, affecting profitability. Consequently, higher production costs can restrict market growth by narrowing the competitive landscape and reducing accessibility for consumers.

Covid-19 Impact

The covid-19 pandemic significantly impacted the luxury packaging market, leading to a surge in demand for sustainable and premium packaging solutions. With heightened consumer awareness and a shift towards online shopping, brands focused on enhancing unboxing experiences. Supply chain disruptions also prompted companies to re-evaluate sourcing strategies. Overall, the luxury packaging sector has been adapted by prioritizing eco-friendly materials and innovative designs to meet evolving consumer preferences and market dynamics.

The customized packaging segment is expected to be the largest during the forecast period

The customized packaging segment is estimated to have a lucrative growth. Luxury packaging in customized applications enhances brand perception by offering unique, high-quality designs that reflect a product's value. Tailored to specific customer needs, it often includes premium materials, intricate designs, and personalized elements. This not only elevates the unboxing experience but also reinforces brand identity and fosters customer loyalty. With a focus on aesthetics and sustainability, luxury packaging serves as a powerful marketing tool that distinguishes products in a competitive market. 

The fashion & apparel segment is expected to have the highest CAGR during the forecast period

The fashion & apparel segment is anticipated to witness the highest CAGR growth during the forecast period. Luxury packaging in fashion and apparel enhances brand perception and customer experience. High-quality materials, unique designs, and attention to detail create an exclusive feel, elevating the product's value. This packaging often reflects the brand's identity and ethos, making it an integral part of the marketing strategy. Sustainable luxury packaging is gaining traction, appealing to environmentally conscious consumers while maintaining elegance and sophistication, reinforcing the brand's commitment to quality and responsibility.

Region with largest share:

Luxury packaging market in the Asia Pacific region is experiencing significant growth, driven by rising consumer spending and a burgeoning middle class. Brands are increasingly focusing on sustainable materials and innovative designs to enhance product appeal and convey exclusivity. The influence of e-commerce is prompting investments in protective yet aesthetically pleasing packaging. Key sectors include cosmetics, fashion, and premium food and beverages, where the unboxing experience is crucial. As environmental concerns grow, companies are also adopting eco-friendly practices to align with consumer values and enhance brand reputation.

Region with highest CAGR:

The luxury packaging market in North America is characterized by a growing demand for premium and customized packaging solutions across various industries such as cosmetics, fashion, and consumer goods. Key drivers include increasing disposable incomes, evolving consumer preferences towards luxury goods, and emphasis on sustainable packaging. The market is expected to continue expanding, driven by urbanization, luxury brand expansions, and a shift towards experiential packaging that enhances product value and consumer experience.

Key players in the market

Some of the key players profiled in the Luxury Packaging Market include Mondi Group, Smurfit Kappa Group, Robinson PLC, Avery Dennison, Berry Global, Albea Group, Sealed Air Corporation, Tetra Pak, Packaging Corporation of America (PCA), Graphic Packaging Holding Company, Champagne Lanson, WestRock, Stora Enso, Ardagh Group, Valpak Limited and TricorBraun.

Key Developments:

In August 2023, Robinson Paperbox Packaging has been commissioned to manufacture 2 promotional boxes for Estee Lauder’s premium haircare brand Aveda. Both boxes were made with a black lined board interior using a CMYK outer design which have a matt varnish and gloss UV varnish gloss finish.

In June 2023, Mondi has announced the expansion of its luxury packaging range ‘IQ GRASS+PACKAGING’. The company has extended the grammages of this range from the previous 95g/m² and 120g/m² to the new grammages of 80g/m², 200g/m² and 350g/m².This mixture of grass and fresh pulp fibre helps provide a natural look for the packaging range, which can be used for making boutique carrier bags and promotional cards.

Products Covered:
• Boxes
• Folding Cartons
• Bags & Pouches
• Bottles & Jars
• Tubes
• Other Products

Materials Covered:
• Paper & Paperboard
• Plastic
• Glass
• Metal
• Wood
• Other Materials

Designs Covered:
• Rigid Packaging
• Interactive Packaging
• Sustainable Packaging
• Customized Packaging
• Limited Edition Packaging
• Other Designs

End Users Covered:
• Cosmetics & Personal Care
• Food Products
• Fashion & Apparel
• Electronics
• Spirits & Wines
• Pharmaceuticals
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
3 Market Trend Analysis  
 3.1 Introduction  
 3.2 Drivers   
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats   
 3.6 Product Analysis  
 3.7 End User Analysis  
 3.8 Emerging Markets  
 3.9 Impact of Covid-19  
     
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
5 Global Luxury Packaging Market, By Product
 5.1 Introduction  
 5.2 Boxes   
 5.3 Folding Cartons  
 5.4 Bags & Pouches  
 5.5 Bottles & Jars  
 5.6 Tubes   
 5.7 Other Products  
     
6 Global Luxury Packaging Market, By Material
 6.1 Introduction  
 6.2 Paper & Paperboard 
 6.3 Plastic   
 6.4 Glass   
 6.5 Metal   
 6.6 Wood   
 6.7 Other Materials  
     
7 Global Luxury Packaging Market, By Design
 7.1 Introduction  
 7.2 Rigid Packaging  
 7.3 Interactive Packaging 
 7.4 Sustainable Packaging 
 7.5 Customized Packaging 
 7.6 Limited Edition Packaging 
 7.7 Other Designs  
     
8 Global Luxury Packaging Market, By End User
 8.1 Introduction  
 8.2 Cosmetics & Personal Care 
 8.3 Food Products  
 8.4 Fashion & Apparel  
 8.5 Electronics  
 8.6 Spirits & Wines  
 8.7 Pharmaceuticals  
 8.8 Other End Users  
     
9 Global Luxury Packaging Market, By Geography
 9.1 Introduction  
 9.2 North America  
  9.2.1 US  
  9.2.2 Canada  
  9.2.3 Mexico  
 9.3 Europe   
  9.3.1 Germany  
  9.3.2 UK  
  9.3.3 Italy  
  9.3.4 France  
  9.3.5 Spain  
  9.3.6 Rest of Europe 
 9.4 Asia Pacific  
  9.4.1 Japan  
  9.4.2 China  
  9.4.3 India  
  9.4.4 Australia  
  9.4.5 New Zealand 
  9.4.6 South Korea 
  9.4.7 Rest of Asia Pacific 
 9.5 South America  
  9.5.1 Argentina 
  9.5.2 Brazil  
  9.5.3 Chile  
  9.5.4 Rest of South America
 9.6 Middle East & Africa 
  9.6.1 Saudi Arabia 
  9.6.2 UAE  
  9.6.3 Qatar  
  9.6.4 South Africa 
  9.6.5 Rest of Middle East & Africa
     
10 Key Developments   
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
 10.2 Acquisitions & Mergers 
 10.3 New Product Launch 
 10.4 Expansions  
 10.5 Other Key Strategies 
     
11 Company Profiling   
 11.1 Mondi Group  
 11.2 Smurfit Kappa Group 
 11.3 Robinson PLC  
 11.4 Avery Dennison  
 11.5 Berry Global  
 11.6 Albea Group  
 11.7 Sealed Air Corporation 
 11.8 Tetra Pak   
 11.9 Packaging Corporation of America (PCA)
 11.10 Graphic Packaging Holding Company
 11.11 Champagne Lanson  
 11.12 WestRock  
 11.13 Stora Enso  
 11.14 Ardagh Group  
 11.15 Valpak Limited  
 11.16 TricorBraun  
     
List of Tables    
1 Global Luxury Packaging Market Outlook, By Region (2022-2030) ($MN)
2 Global Luxury Packaging Market Outlook, By Product (2022-2030) ($MN)
3 Global Luxury Packaging Market Outlook, By Boxes (2022-2030) ($MN)
4 Global Luxury Packaging Market Outlook, By Folding Cartons (2022-2030) ($MN)
5 Global Luxury Packaging Market Outlook, By Bags & Pouches (2022-2030) ($MN)
6 Global Luxury Packaging Market Outlook, By Bottles & Jars (2022-2030) ($MN)
7 Global Luxury Packaging Market Outlook, By Tubes (2022-2030) ($MN)
8 Global Luxury Packaging Market Outlook, By Other Products (2022-2030) ($MN)
9 Global Luxury Packaging Market Outlook, By Material (2022-2030) ($MN)
10 Global Luxury Packaging Market Outlook, By Paper & Paperboard (2022-2030) ($MN)
11 Global Luxury Packaging Market Outlook, By Plastic (2022-2030) ($MN)
12 Global Luxury Packaging Market Outlook, By Glass (2022-2030) ($MN)
13 Global Luxury Packaging Market Outlook, By Metal (2022-2030) ($MN)
14 Global Luxury Packaging Market Outlook, By Wood (2022-2030) ($MN)
15 Global Luxury Packaging Market Outlook, By Other Materials (2022-2030) ($MN)
16 Global Luxury Packaging Market Outlook, By Design (2022-2030) ($MN)
17 Global Luxury Packaging Market Outlook, By Rigid Packaging (2022-2030) ($MN)
18 Global Luxury Packaging Market Outlook, By Interactive Packaging (2022-2030) ($MN)
19 Global Luxury Packaging Market Outlook, By Sustainable Packaging (2022-2030) ($MN)
20 Global Luxury Packaging Market Outlook, By Customized Packaging (2022-2030) ($MN)
21 Global Luxury Packaging Market Outlook, By Limited Edition Packaging (2022-2030) ($MN)
22 Global Luxury Packaging Market Outlook, By Other Designs (2022-2030) ($MN)
23 Global Luxury Packaging Market Outlook, By End User (2022-2030) ($MN)
24 Global Luxury Packaging Market Outlook, By Cosmetics & Personal Care (2022-2030) ($MN)
25 Global Luxury Packaging Market Outlook, By Food Products (2022-2030) ($MN)
26 Global Luxury Packaging Market Outlook, By Fashion & Apparel (2022-2030) ($MN)
27 Global Luxury Packaging Market Outlook, By Electronics (2022-2030) ($MN)
28 Global Luxury Packaging Market Outlook, By Spirits & Wines (2022-2030) ($MN)
29 Global Luxury Packaging Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
30 Global Luxury Packaging Market Outlook, By Other End Users (2022-2030) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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