Luxury Packaging Market Size, Share & Industry Analysis Forecast to 2032

Luxury Packaging Market Size, Share & Industry Analysis Forecast to 2032 According to Fortune Business Insights the global luxury packaging market size was valued at USD 17.98 billion in 2023 and is projected to be worth USD 18.79 billion in 2024 and reach USD 28.23 billion by 2032, exhibiting a CAGR of 5.22% during the forecast period. Luxury packaging is a state-of- the-art style of packaging that increases the overall visual appeal of a product and also helps companies improve their brand image. Several market players have started using digital technologies to improve the overall visual appeal of the packaging materials. A robust rise in the number of customers opting for online shopping is one of the key factors accelerating the market s growth. Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/luxury-packaging- market-107307 Segmentation: Paper & Paperboard Widely Used in Luxury Packaging Products Due to Their Recyclability and Sustainability Based on material, the market is segmented into paper & paperboard, metal, glass, plastic, and others. The paper & paperboard segment has captured the largest share of the market as this material offers various lucrative features, such as high recyclability and sustainability, making it a preferred choice among brands wanting to become eco-friendly. Demand for Boxes & Cartons Rises Owing to Their Customizability Based on product type, the market is segmented into boxes & cartons, bottles, bags & pouches, cans & jars, and others. The boxes & cartons segment is dominating the global luxury packaging market

share as these products offer brands the option to customize their packaging in different ways to help them stand out from their competitors. Report Coverage: The report has conducted a detailed study of the market and highlighted several critical areas, such as leading materials, product types, end uses, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow. Drivers and Restraints: Rising Demand for Premium Consumer Goods: Growth in high-end personal care, cosmetics, perfumes, and fashion accessories is driving the need for luxury packaging. Brand Differentiation and Customer Experience: Packaging plays a key role in luxury branding, enhancing consumer perception and loyalty. High Cost of Luxury Packaging: Customization, premium materials, and limited production runs elevate costs. Counterfeit Products: Challenges in ensuring authenticity and security in packaging for premium goods. Regulatory Pressures: Increasing regulations around plastic and packaging waste affect material choices Regional Insights: North America Dominates Global Market Due to Strong Expansion of Food & Beverage Sector North America is dominating the global market owing to the robust expansion of the region s food & beverage industry. An increasing number of customers are indulging in gourmet foods due to their rising disposable incomes, which will boost the need for luxurious packaging solutions. Europe is holding the second-leading position in the global market due to a notable presence of several leading luxury brands. Key Industry Development: July 2024 Quadpack Industries announced a new project with PSB Industries, a private company, to merge Quadpack and PSB s key subsidiary, Texen, into a single group. Texen, headquartered in Brion, France, is known for producing high-quality packaging products for the luxury perfumery and makeup markets. It has its factories in in France, Poland, the U.S., and Mexico. LIST OF KEY COMPANIES PROFILED IN THE REPORT: DS Smith (U.K.) Ardagh Group (Luxembourg) Stoelzle Glass Group (Austria) WestRock (U.S.) Crown Holdings Inc. (U.S.) O-I Glass, Inc. (U.S.) Amcor Plc (Switzerland) IPL Packaging Inc. (China)

Lucas Luxury Packaging (Ireland) Prestige Packaging Industries (France) Pendragon Presentation Packaging (U.K.) Ekol Ofset (Turkey) Get Your Customization Research Report: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/luxury-packaging- market-107307 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Address: Fortune Business Insights Pvt. Ltd. 9th Floor, Icon Tower, Baner Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone US: +18339092966 UK: +448085020280 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com Linkedin | Twitter | Blogs