Luxury Packaging Market Size, Development Strategy, Historical Analysis, Emerging Technologies, Opportunity Assessment, Global Key Players and Trends by Forecast 2027

Demand for Eco-Friendly Packaging to Boost Luxury Packaging Market Growth 

Market Analysis

The global Luxury Packaging Market size will grow at a 4.8?GR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.

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Luxury Packaging Market

Luxury Packaging Market Drivers 

Demand for Eco-Friendly Packaging to Boost Market Growth 

The growing demand for eco-friendly, bio-degradable, or sustainable packaging will boost the luxury packaging market growth. Thus, players are increasingly investing in advanced technology and innovation so as to offer manufacturers with sustainable luxury packaging.

Luxury Packaging Market Opportunities 

Expanding E-Commerce Industry to Offer Robust Opportunities 

The expanding e-commerce industry will offer robust opportunities for the market over the forecast period. In line with the transforming consumer buying behaviors, different brands are expanding their presence on online retail channels. Thus they are coming up with packaging equipped with RFID tags or decorative holograms along with returnable packaging options to suffice with the unique challenges that are presented by online retailing & product counterfeiting.

Restraints and Challenges 

Increasing Reluctance to Use Bulky Packaging to act as Market Restraint 

The increasing reluctance of marketers and consumers to use bulky and heavy-weight packaging materials and products may act as a market restraint during the forecast period.

COVID-19 Analysis 

The COVID-19 outbreak has abruptly impacted the business sector in the worst possible way. People have to face both health issues and financial crises. The pandemic has pushed the worldwide economy into forced recession. During the post lockdown situation and the lockdown situation, the majority of the manufacturing units had been shut down that has decreased the market revenue of the luxury packaging market. The need for luxury packaging however in the third quarter has gone up for an increase in awareness about packaged food for safety purpose and is likely to recover in the coming year.

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Market Segmentation 

The global luxury packaging market has been bifurcated based on material and end user. 

By material, the paperboard material segment will lead the market over the forecast period for the increasing demand for sustainable packaging. It is also gaining popularity as its renewable and recyclable and widely used for packing food, household products, beverages, cosmetics, and pharmaceuticals in different industries as the material used in it is durable, cost effective, temperature resistant, and higher barrier packaging options. 

By end user, the personal care and cosmetics industry will dominate the market over the forecast period. To maintain personal hygiene, such packaging is used in personal care products along with adding beautification to the product. Luxury packaging is mostly used in gels and foams, skincare products, hair care, gel toothpaste, and deodorants and antiperspirants.

Regional Analysis 

Europe to Command Luxury Packaging Market 

Europe will command this market over the forecast period. Increasing flagship stores, the surge in demand in the online channel of distribution, the region being the home to top luxury packaging manufactures, the rise in tourist demand for luxury products, increase in tourist-based purchasing, the region being the largest producer of flexible solutions and products, the burgeoning need for tobacco products, fashion goods and accessories, premium vodkas and wines, and watches and jewelry that encourage vendors in contributing to the growing revenues are adding to the global luxury packaging market share in the region. The UK, France, and Germany have the utmost market share. Western Europe contributes over 79% of revenues in the luxury goods market. 

APAC to Have Remarkable Growth in Luxury Packaging Market 

The APAC region will have a remarkable growth in the market over the forecast period. Increased expenditure on luxury products by countries such as Indonesia, South Korea, Australia, China, Japan, and India, these countries having low cost labor and easy availability of raw materials, growing consumer spending, China’s considerable share in luxury spending, and the increasing need for alcoholic beverages, tobacco products, confectionary, personal care and healthcare goods, and packaged food and beverages are adding to the global luxury packaging market value over the forecast period. 

Key Players 

Eminent players profiled in the global luxury packaging industry report include CLP Packaging Solutions Inc. (U.S.), Lucas Luxury Packaging (Ireland), Winter and Company AG (Switzerland), MW Creative Ltd (U.K.), Pendragon Presentation Packaging Ltd (U.S.), DS Smith Plc (U.K.), Ekol Ofset (Turkey), HH Deluxe Packaging (U.K.), and Amcor Limited (Australia), among others. 

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The global luxury packaging market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Contact Information:

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US) 

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

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