$21 Billion Luxury Packaging Market - Global Outlook and Forecast 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 27, 2018--The “Luxury Packaging Market - Global Outlook and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The global luxury packaging market is anticipated to reach values of more than $21 billion by 2024, growing at a CAGR of approximately 5% during 2018-2024. The market research report also offers market share analysis in terms of volumes (mn tons) during the forecast period.
The exponential growth of the luxury goods industry that includes products such as cosmetics and fragrances, watches and jewelry, drinks, fashion, leather goods, tobacco, confectionery, and handbags will create new investment opportunities. The luxury brands using parceling to promote a picture of high quality, elegance, and sophistication for their products will augment the development of the market.
The global luxury packaging market is driven by the growing need for brand identity, integrate brand equity, and impact consumer decisions. The vendors are investing in deeply imaginative concept, designed to stimulate an extreme emotional response from the consumers in the market. The market research report provides in-depth market analysis and segmental analysis of the global luxury packaging market by material, end-users, and geography.
Luxury Packaging Market - Dynamics
Sustainability is becoming an integral part of the global luxury packaging market. Renowned brands and consumers are more concerned about presentation than eco friendliness of packaging. Customers are increasingly becoming environmentally conscious and are seeking out more sustainable lifestyle choices. There is growing pressure from the public and the industry on luxury brand owners to decrease the environmental impact of packaging, while maintaining its luxury quotient. With the rise of e-commerce, there has been a revolutionary shift in how goods are transported and exchanged in the global luxury packaging market. Some of the factors that are usually considered for designing packaging templates for e-commerce are packaging weight, durability, and total landing cost.
Luxury good vendors for fashion accessories, cosmetics, jewelry, and watches are increasingly re-designing their packaging templates to suit omni-channel business models in the market. The increasing demand for personalized packaging is propelling the growth of the global luxury packaging market. There is a growing need to maintain a brands position innovative, fresh, and stunning to attract new and existing customers.
The crucial obstacle for brand owners is to deal with the ever-growing lack of loyalty from customers. To differentiate from competitors, brand owners are continually building a perceivable and appealing image, which addresses consumers on a more personal note in the market.
Key Vendor Analysis
The global luxury packaging market is very fragmented and offers huge scope new players to enter and expand to emerging regions. The increasing middle-class income and rising infrastructure development are creating new avenues for leading vendors operating in the global market. The presence of diversified international vendors and regional players will intensify the competition.
The top companies are developing new technologies to gain a competitive advantage. The increasing use of augmented reality (AR) technology to attract customers by retailers will encourage vendors to diversify their product portfolio in the global luxury packaging market.
The major vendors in the global luxury packaging market are:Amcor Limited Crown Holdings Incorporated International Paper West Rock Owen - Illinois, Inc.
Other prominent vendors includeArdagh Group BC Boncar Ch. Dahlinger GmbH & Co. KG Stolzle Glass Group Stolzle Glass Group. Fleet Luxury HH Deluxe Packaging Eurobox Keenpac MW luxury Packaging
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Material
4.3.2 Market Segmentation by End-users
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growth of e-commerce in emerging markets
8.1.2 Packaging and display creates competitive advantages for luxury goods
8.1.3 Rising disposable income in developing countries
8.1.4 Demand for technology-blended luxury packaging
8.1.5 Increased demand for personalized packaging
8.2 Market Growth Restraints
8.2.1 Luxury taxation to impact consumption in emerging economies
8.2.2 Volatility in raw material costs
8.2.3 Commoditization of luxury packaging industry
8.2.4 Subdued economic growth and consumption in developed nations
8.3 Market Opportunities & Trends
8.3.1 Less on-pack clutter with emphasis on functional product attributes
8.3.2 E-commerce to revolutionize packaging formats and templates
8.3.3 Sustainability to become integral part of luxury packaging
8.3.4 “Just-in-time inventories” to reinforce balanced supply chain
8.3.5 Innovation to drive and shape luxury packaging market
9 Global Luxury Packaging Market
9.1 Market Overview
9.2 Porter’s Five Forces Analysis
10 By Material
10.1 Market Overview
10.2 Paper and paperboard
10.7 Other materials (rubber, textiles, and leather)
11 By End-User
11.1 Market Overview
11.2 Cosmetics and Fragrances
11.3 Premium Alcoholic Drinks
11.4 Fashion and Leather Goods
11.5 Gourmet and Food Beverages
11.6 Watches and Jewelry
12 By Geography
For more information about this report visit https://www.researchandmarkets.com/research/ckbncq/21_billion?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005493/en/
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INDUSTRY KEYWORD: LUXURY MANUFACTURING PACKAGING RETAIL
SOURCE: Research and Markets
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PUB: 11/27/2018 08:10 AM/DISC: 11/27/2018 08:10 AM