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Luxury Packaging Market Size

Report ID: GMI12158
Published Date: Nov 2024
Report Format: PDF

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Luxury Packaging Market Size

The global luxury packaging market was valued at USD 17.2 billion in 2023 and is estimated to grow at a CAGR of 4.6% from 2024 to 2032.

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A key growth driver for the market is the increasing focus on sustainability, with brands prioritizing eco-friendly materials like recyclable and biodegradable options to align with shifting consumer preferences and regulatory demands. This commitment to sustainability has spurred innovations in packaging materials and design, reflecting a broader industry move toward responsible consumption.

Luxury Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2023
Luxury Packaging Market Size in 2023:	USD 17.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.6%
2032 Value Projection:	USD 25.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	240
Tables, Charts & Figures:	360
Segments covered:	Material, Product Type, Application, End-use Industry
Growth Drivers:	Rising consumer demand for premium products Increasing focus on personalization and customization Emphasis on sustainability and eco-friendly practices Rapid growth of e-commerce platforms Integration of smart packaging solutions
Pitfalls & Challenges:	Cost of sustainable materials Environmental impact of packaging waste

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For instance, in August 2023, Robinson Paperbox Packaging was awarded a project to create the luxury packaging for Aveda Parti Pris and Mini and More boxes. Both boxes were made with a black lined board interior using a CMYK outer design which have a matt varnish and gloss UV varnish gloss finish. Robinson partners with some of the world’s most luxurious brands, from concept to commercialization, creating widely recyclable packaging made from 100% post-consumer recycled material.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for luxury packaging was valued at USD 17.2 billion in 2023 and is projected to reach USD 25.8 billion by 2032, driven by a CAGR of 4.6% from 2024 to 2032.

The food and beverages segment is the fastest-growing, with a CAGR of over 5% from 2024 to 2032, driven by rising consumer demand for premium, artisanal, and gourmet products.

North America held over 30% of the global market share in 2023, driven by growing consumer demand for premium, visually appealing products.

Major players in the industry include Amcor, Cosfibel Group, Crown Holdings, Delta Global, DS Smith, GPA Global, HH Deluxe Packaging, Hunter Luxury, and IPL Packaging.