Global Luxury Packaging Market to Reach US$ 20.9 Billion by 2028, Impelled by Shifting Lifestyle Preferences of Individuals

February 25, 2022 | Packaging

According to the latest report by IMARC Group, titled "Luxury Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global luxury packaging market reached a value of US$ 15.8 Billion in 2022. Luxury packaging is generally utilized in the packing of premium and high-quality goods that are associated with exclusivity. It is an essential part of a brand’s image that aid in building customer loyalty. Along with this, it also provides value to the product by enhancing its physical appearance as well as protecting it from physical damage. The easy availability of luxury products through online and offline organized channels have provided a boost to the market growth across the globe.


Global Luxury Packaging Market Trends:

The global market is primarily driven by the inflating disposable income levels of the masses. This is supported by the increasing brand consciousness and shifting lifestyle preferences of individuals. Along with this, the rising investments by leading companies in manufacturing environmentally friendly packaging solutions due to an enhanced focus on sustainable development is creating a positive outlook for the market. For instance, multiple key players are utilizing paper packaging solutions using the Forest Stewardship Council (FSC)-certified paper that is manufactured using recycled coffee cups in an attempt to reduce their environmental impact. In line with this, various leading players are heavily investing in developing robust marketing solutions, promotional campaigns and celebrity endorsements to advertise their brand and products, thereby positively influencing the market growth. In addition to this, continual technological advancements and the widespread integration of automation in the production processes are also providing an impetus to the market growth. Other factors, including the penetration of high-speed internet connectivity, the increasing adoption of smartphones and the rising popularity of social media among the masses, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 20.9 Billion by 2028, growing at a CAGR of 4.6% during 2023-2028.


Market Summary: 

  • Based on the material, the market has been segmented into paperboard, wood, plastic, glass, metal and others.
  • On the basis of the application, the market has been segregated into cosmetics and fragrances, confectionery, watches and jewelry, alcoholic drinks, food and non-alcoholic drinks and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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 and Progress Packaging Ltd.


Report Scope:
 

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Material, Application, 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 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 and Progress Packaging Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)


About Us:

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Luxury Packaging Market to Reach US$ 20.9 Billion by 2028, Impelled by Shifting Lifestyle Preferences of Individuals
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