Luxury Packaging Market 2023-2028: Industry Breakup by Material (Paperboard, Wood, Plastic, Glass, Metal) and Forecast

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Published March 28, 2023

The latest report by IMARC, titled “Luxury Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global luxury packaging market size reached US$ 15.8 Billion in 2022. Looking forward, IMARC Group expects the market value to reach US$ 20.9 Billion by 2028, expanding at a CAGR of 4.6% during the forecast period (2023-2028).

Luxury Packaging Market Overview:

Luxury Packaging refers to the packing of premium and high-quality goods to enhance their brand and aesthetic appeal. It also offers information about the product value and its benefits. Luxury packaging plays a crucial part in protecting the product against any damage. In recent years, luxury packaging has gained traction on account of the evolving market trends and changing consumer preferences due to which key players are introducing new solutions with enhanced functionality and multi-use designs.

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Global Luxury Packaging Market Trends:

One of the primary factors driving the market is the extensive utilization of sustainable and bio-degradable packaging solutions. Several companies are also focusing on sustainable development due to the rising environmental consciousness among the masses, thus preferring products and packaging made from natural materials. Besides this, exponential growth in the e-commerce industry is escalating the demand for luxury packaging. In line with this, key players are launching packaging equipped with radio-frequency identification (RFID) tags or decorative holograms, along with returnable packaging options to cater to the unique challenges presented by online retailing and product counterfeiting. Moreover, technological advancements and the widespread integration of automation in the production processes are also providing an impetus to the market growth.

Key Market Segmentation:

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Top Luxury Packaging Companies Worldwide:

Amcor
Ardagh Group
Crown Holdings
DS Smith
HH Deluxe Packaging
Lucas Luxury Packaging Limited
MW Luxury Packaging
Owens-Illinois Inc.
Pendragon Presentation Packaging Ltd
Prestige Packaging Industries
Progress Packaging Ltd.

Breakup by Material:

Paperboard
Wood
Plastic
Glass
Metal
Others

Breakup by Application:

Cosmetics and Fragrances
Confectionery
Watches and Jewelry
Alcoholic Drinks
Food and Non-Alcoholic Drinks
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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