The Luxury Packaging
A growing
market
Why should You invest into the Luxury Packaging
Major packaging manufactures are gaining access to various high-quality materials and innovative shapes, as these properties enhance the consumer experience. The factors, like changing consumer preferences, growing willingness to spend more, and rising focus of several brands on design, processes, and the overall product development, are boosting the luxury packaging demand.
The global luxury packaging market is expected to register a CAGR of about 4.67% during 2018-2023 (the forecast period)*. The report highlights the different types of materials that are used by the players for the manufacture of packaging solutions. The regions considered in the scope of this report include North America, Europe, and various others. Apart from this, the report also discusses that how the growing penetration of travel retail and online retail is fueling the demand for luxury packaging solutions.
* Forecast data from "Aspire Luxury Magazine"
Moreover, the wide range of appliances makes the investments into the luxury packaging always a good choice:
- Higher marginal gains
- Easier to differentiate from competitors
- Different purchasing motivations
- Reduction of competition (less competitor in that segment)