IMARC Group’s latest report, titled “Gift Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global gift packaging market is expected to grow at a CAGR of 3.9% during the forecast period (2023-2028). A gift is used to express affection and gratitude towards family, friends and relatives. It is packed in boxes and bags and decorated with ribbons to enhance the aesthetic value. At present, the emerging trend of gifting on various special occasions, like birthdays, farewells, anniversaries, and festivals, is positively influencing the need for gift packaging. It can also be accredited to the availability of gift packaging in various shapes, sizes, and colors depending upon the requirements of individuals.
Global Gift Packaging Market Trends:
The growing use of personalized prints in gift wrapping is driving the market across the globe. Moreover, the rising trend of corporate gifting culture as a strategic move among organizations to motivate employees for their performance is favoring the market growth. In addition, the increasing number of online applications that offer gifting services with convenient check-outs, fast shipping facilities, and innumerable payment methods for targeting a larger consumer base is contributing to the market growth. Apart from this, due to the growing environmental concerns, there is a rise in the availability of eco-friendly packaging solutions like cloth bags, recycled paper, and paperboards to expand their product portfolio. Key players are launching corrugated gift boxes that offer several beneficial properties, such as reusability, durability, and attractive appearance. Product manufacturers are also developing innovative gift containers, such as slide sleeves and telescopic packs. They are focusing on three dimensional (3D) digital printing solutions for packaging methods to attract a wider consumer base. Furthermore, the growing adoption of gifting cosmetic products, electronics, food and beverages, flowers, and clothes in appealing packaging solutions with tailored labels is creating a positive outlook for the market.
- Based on the product type, the market has been segregated into ribbons, wrapping papers, containers, boxes, and others. Wrapping papers currently represent the mostly commonly used product types.
- On the basis of the material, the market has been segregated into paper and paperboards, plastic, glass and others. At present, paper and paperboards dominate the market.
- Based on the packaging, the market has been classified into primary, secondary, and tertiary. Primary packaging presently accounts for the majority of the total market share.
- Region-wise, the market has been divided into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been analyzed, with some of the key players being DS Smith plc, Ebro Color GmbH, Hallmark Cards Inc., IG Design Group plc, International Packaging Corporation, Karl Knauer KG, Mondi plc, POL-MAK, Smurfit Kappa Group plc and Yama Ribbon & Bows Co. Ltd.
|Base Year of the Analysis
||Product Type, Material, Packaging, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||DS Smith plc, Ebro Color GmbH, Hallmark Cards Inc., IG Design Group plc, International Packaging Corporation, Karl Knauer KG, Mondi plc, POL-MAK, Smurfit Kappa Group plc and Yama Ribbon & Bows Co. Ltd.
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