Global Gift Packaging Market to Grow at 3.4% During 2024-2032, Impelled by Availability of Eco-Friendly Variants

November 22, 2022 | Packaging

IMARC Group’s latest report, titled “Gift Packaging Market Report by Product Type (Ribbons, Wrapping Papers, Containers, Boxes, and Others), Material (Paper and Paperboards, Plastic, Glass, and Others), Packaging (Primary Packaging, Secondary Packaging, Tertiary Packaging), and Region 2024-2032,” finds that the global gift packaging market is expected to grow at a CAGR of 3.4% during the forecast period (2024-2032). 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.

Market Summary:

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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Material, Packaging, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Gift Packaging Market to Grow at 3.4% During 2024-2032, Impelled by Availability of Eco-Friendly Variants

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