Packaging is no longer done simply to protect products from damage but has become an essential part of luxury branding. Luxury packaging is mostly used to package highly expensive and sophisticated products. The packaging employed is a part of a company’s brand image. Packaging majorly influences buying decisions of customers. They too are willing to pay more if the packaging is aesthetically appealing and looks of high value. Hence, increased demand for aesthetically appealing packs, drive the growth of the market. Additionally increasing demand for sustainable, bio-degradable or eco-friendly packaging are also a positive influence on the growth of the market. However, restraints such as rise in cost of raw materials, may impair the market growth.

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On the basis of end-user, the market has been segmented as food & beverage, confectionery, personal care & cosmetics, and others. Personal care packaging refers to casing of products used for personal hygiene and beautification. The applications of these include hair care, foams & gels, gel toothpaste, deodorants & antiperspirants and skin care products. Increasing demand for personal care & cosmetics packaging, across the globe drive the demand of luxury packaging. Food & beverage industry is expected to contribute, significantly, during the forecast period.

The Global Luxury Packaging Market is projected to grow at a CAGR of 4.8% during the forecast period.

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European region dominates the global luxury packaging market

On the basis of regions, global luxury packaging market has been segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Europe dominates the global luxury packaging market. Rise in the number of flagship stores in the region, drive the growth of the market. A surge in online sales is also a growth driver for the market in Europe. Increase in spending on luxury product by tourists, forms a positive influence on the growth of the region. Germany, U.K., and France are the major markets in the region.

Asia Pacific is expected to have the highest CAGR during the forecast period. China, Japan, India, Australia and Indonesia are the major markets in Asia Pacific region. Increase in spending capacity in the region, drives the growth of the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China accounts for the largest share of the luxury packaging market in the Asia Pacific region.

North America is another major market for the luxury packaging. Increase in sales of personal luxury products in the region, drive the growth of the market. Latin America and Middle-East & Africa regions are also expected to set the growth during the forecast period due to rising demand from the e-commerce sector and expansion by global luxury manufacturers.

Key Players

The prominent players in the luxury packaging market include Amcor Limited (Australia), HH Deluxe Packaging (U.K.), Ekol Ofset (Turkey), DS Smith Plc (U.K.), Pendragon Presentation Packaging Ltd (U.K.), Design Packaging, Inc. (U.S.), Elegant Packaging (U.S.), MW Creative Ltd (U.K.), Winter & Company AG (Switzerland), Lucas Luxury Packaging (Ireland), and CLP Packaging Solutions Inc. (U.S.).

This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

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