Report Code: CMI48803

Published Date: May 2024

Pages: 320+

Category: Packaging & Transport

Report Snapshot

CAGR: 5.1%
14.2B
2023
14.3B
2024
23.6B
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Amcor plc
  • DS Smith plc
  • WestRock Company
  • International Paper Company
  • Mondi Group
  • Smurfit Kappa Group
  • Others

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Reports Description

Global Luxury Packaging Market was valued at USD 14.3 Billion in 2024 and is expected to reach USD 23.6 Billion by 2033, at a CAGR of 5.1% during the forecast period 2024 – 2033.

Luxury packaging refers to premium packaging methods that improve the display and perceived worth of high-end items. It frequently uses high-quality materials and sophisticated patterns. Luxury packaging is commonly used for luxury goods such as cosmetics, perfumes, and jewellery.

Luxury Packaging Market: Growth Factors

Expanding cosmetic and personal care industry

The growing cosmetic and personal care business is a significant driver of the luxury packaging market. As consumer demand for luxury cosmetic goods rises, firms are prioritizing packaging as a key component of product uniqueness and brand identification.

Luxury packaging not only increases the perceived worth of the product, but it also plays an important function in attracting customers and strengthening brand identity. Luxury packaging features unique designs, high-quality materials, and sophisticated finishing processes for a premium appearance and feel.

This is consistent with the idealistic character of cosmetic and personal care items, tempting customers to buy. Moreover, luxury packaging enables firms to express their ideals of elegance, refinement, and exclusiveness, attracting consumers looking for a premium experience.

As the cosmetic and personal care industries expand, demand for luxury packaging is likely to rise, fuelling innovation and expansion in the luxury packaging market. L’Oreal, the world’s largest cosmetic firm, reported that sales in North America and Europe increased by more than 12%, as its mass market and dermatological products compensated for a fall in the premium category.

Increasing spending on premium products by customers

The increase in consumer spending on premium items is a major factor driving growth in the luxury packaging industry. As customers prioritize quality and aesthetics, companies respond by investing in high-end packaging to increase their products’ perceived worth.

Luxury packaging allows firms to differentiate themselves, create a sense of exclusivity, and strengthen brand identification. This tendency is especially noticeable in industries such as cosmetics, fragrances, alcoholic drinks, and gourmet food, where packaging is an important touchpoint for customer involvement.

Furthermore, the growth of e-commerce has highlighted the importance of quality packaging, which enhances the unpacking experience and builds brand loyalty. As a result, a need for luxury packaging solutions that are distinguished by unique designs, premium materials, and complex embellishments, continues to rise, driven by consumers’ willingness to invest in products that offer a heightened sensory and emotional experience.

India is the world’s fastest-growing economy and is expected to become the third-largest by 2027. This has resulted in a shift in the income distribution, with the upper middle class accounting for one-third of the total population and the high-income class doubling by 2031. By 2030, the luxury sector in India is predicted to be worth USD 30 billion, with 60 percent of current customers spending on luxury each year.

Luxury Packaging Market: Restraints

High cost of packaging

The high cost of packaging can provide a substantial obstacle to the luxury packaging business, affecting both producers and customers. Luxury firms frequently prioritise packaging that radiates elegance, refinement, and exclusivity to increase the perceived worth of their products.

This frequently requires the use of high-quality materials, sophisticated patterns, and unique finishes, which can significantly raise production costs. Furthermore, customers may be hesitant to pay higher prices for items if they believe the packing expenses are exorbitant.

To address this issue, luxury firms should consider measures such as optimizing package designs for cost efficiency, utilising economies of scale through purchasing in bulk or purchasing sustainable packaging solutions that provide premium appeal at a cheaper cost.

Global Luxury Packaging Market 2024–2033 (By End User)

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Luxury Packaging Market: Opportunities

Demand for sustainable packaging

The luxury packaging market is seeing a boom in demand as consumers increasingly prefer sustainable and bio-based packaging solutions. As environmental awareness grows, luxury firms are responding to customer demands by adding eco-friendly materials and procedures into their package designs.

Bio-based packaging, made from renewable sources like plant-based polymers or recycled materials, is an appealing alternative to typical packaging materials made from fossil fuels. Furthermore, ecological packaging is consistent with the beliefs of luxury consumers, who are increasingly choosing ethical and environmentally responsible businesses.

Luxury firms that adopt sustainable packaging solutions not only improve their brand image but also help to conserve the environment. This trend towards sustainability is altering the luxury packaging sector, spurring innovation, and encouraging partnerships across industries to fulfil the evolving demands of conscious consumers.

Global Luxury Packaging Market 2024–2033 (By Packaging Type)

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Luxury Packaging Market: Segmentation Analysis

The Global Luxury Packaging market is segmented by material, packaging type, end user, and region.  Based on material, the market is classified into paperboard, glass, metal, plastics and others. Paperboard dominated the market in 2023 with a market share of 35.4% and is expected to keep its dominance during the forecast period 2024-2033.

Paperboard’s diverse qualities and ecological credentials contribute significantly to the luxury packaging market’s growth. Luxury firms are increasingly seeking eco-friendly packaging solutions to meet consumer demand for ecologically responsible products.

Paperboard has a high visual appeal, with choices for embossing, foil stamping, and elaborate patterns to improve brand image and product presentation. Its lightweight yet durable design protects high-end items throughout delivery, delivering a delightful unpacking experience for customers.

Furthermore, developments in paperboard production processes have resulted in innovations such as bio-based coatings and recycled material, which improve the product’s sustainability profile.

Luxury firms are using paperboard packaging to represent exclusiveness, craftsmanship, and environmental conscience, attracting discriminating consumers looking for premium items packaged in a socially and environmentally responsible manner.

This trend underscores the growing importance of paperboard in driving the luxury packaging market’s evolution towards sustainability and sophistication.

Based on packaging type, the market is classified into boxes, bottles, bags, containers and others. Boxes dominated the market in 2023 with a market share of 31.5% and are expected to keep its dominance during the forecast period 2024-2033.

Boxes play an important part in driving the luxury packaging business by offering an appealing and sophisticated display for high-end goods. Luxury brands use boxes not just for utilitarian purposes, but also as an integral part of their branding and marketing initiatives.

These handmade boxes serve as a tangible reflection of luxury and exclusivity, elevating the product’s perceived value and providing consumers with a memorable unwrapping experience. Custom-designed boxes with premium materials, elaborate craftsmanship, and novel features improve the overall packaging aesthetics while supporting the brand’s image of refinement and quality.

Moreover, boxes provide chances for brand narrative, personalization, and customization, allowing luxury firms to create unique and immersive experiences that appeal to their discriminating customers.

Based on end user, the market is classified into cosmetics and fragrances, confectionery, watches and jewellery, and others. Cosmetics and Fragrances dominated the market in 2023 with a market share of 35.8% and are expected to keep their dominance during the forecast period 2024-2033.

Cosmetics and perfumes have a big impact on the luxury packaging industry because of their relationship with premium brands and customer perceptions of quality and refinement. Luxury cosmetics and fragrance manufacturers spend on high-quality packaging, unique designs, and precise craftsmanship to provide clients with a luxury unpacking experience.

Attractive packaging increases the perceived worth of the product, boosts brand image, and strengthens brand loyalty among discriminating consumers. Furthermore, luxury packaging is a critical difference in a competitive industry, helping businesses to stand out on store shelves and capture attention in both online and offline channels.

The physical and visual appeal of luxury packaging improves the total product experience, making it an important part of brand narrative and consumer engagement.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 14.3 Billion
Projected Market Size in 2033 USD 23.6 Billion
Market Size in 2023 USD 14.2 Billion
CAGR Growth Rate 5.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Material, Packaging Type, End User and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Luxury Packaging Market: Regional Analysis

By region, Luxury Packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Luxury Packaging market in 2023 with a market share of 40.6% and is expected to keep its dominance during the forecast period 2024-2033.

Asia-Pacific economic expansion in countries such as China, India, and Southeast Asian nations has resulted in a larger middle class with more spending power and a greater desire for luxury products. This increase in disposable money has spurred demand for high-end items, particularly luxury packaging, which helps to boost the perceived value and uniqueness of premium brands.

Furthermore, shifting consumer habits and tastes, inspired by urbanization have fuelled demand for sophisticated and visually appealing packaging designs. Moreover, the rise of e-commerce platforms and luxury retail channels in the area has opened up new prospects for luxury package producers to meet the demands of online buyers and premium brand merchants.

In summary, Asia-Pacific’s changing customer landscape and market dynamics make it a key driver of growth in the luxury packaging industry.

Global Luxury Packaging Market 2024–2033 (By Billion)

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Luxury Packaging Market: Recent Developments

  • In February 2024, James Cropper collaborated with Islay single malt Scotch whisky company Bruichladdich to bring the first of its Luxury Redefined collection to market, with a 100% sustainable exterior wrap.
  • In March 2020, DS Smith announced the launch of its first recycling plant in the United States, marking the company’s most recent expansion into North America. Every year, the new factory can recycle more than 36,000 metric tonnes of old corrugated cardboard, producing new and entirely recyclable packaging for clients.
  • In February 2023, Smurfit Kappa Group Plc agreed to buy WestRock Co. for USD 11.2 billion, becoming an Irish-American packaging sector giant.

List of the prominent players in the Luxury Packaging Market:

  • Amcor plc
  • DS Smith plc
  • WestRock Company
  • International Paper Company
  • Mondi Group
  • Smurfit Kappa Group
  • Crown Holdings Inc.
  • Ardagh Group
  • Sonoco Products Company
  • Coveris Holdings S.A.
  • Graphic Packaging International LLC
  • Tetra Laval International S.A.
  • Toyo Seikan Group Holdings Ltd.
  • Huhtamäki
  • Ball Corporation
  • Berry Global Group Inc.
  • Sealed Air Corporation
  • Reynolds Group Holdings Limited
  • Packaging Corporation of America
  • Stora Enso
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Luxury Packaging Market is segmented as follows:

By Material

  • Paperboard
  • Glass
  • Metal
  • Plastics
  • Others

By Packaging Type

  • Boxes
  • Bottles
  • Bags
  • Containers
  • Others

By End User

  • Cosmetics and Fragrances
  • Confectionery
  • Watches and Jewellery
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Luxury Packaging Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Luxury Packaging Market: snapshot
  • Chapter 3. Global Luxury Packaging Market – Industry Analysis
    • 3.1 Luxury Packaging Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Expanding cosmetic and personal care industry
      • 3.2.2 Increasing spending on premium products by customers
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Material
      • 3.7.2 Market Attractiveness Analysis By Packaging Type
      • 3.7.3 Market Attractiveness Analysis By End User
  • Chapter 4. Global Luxury Packaging Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Luxury Packaging Market: Company Market Share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Luxury Packaging Market – Material Analysis
    • 5.1 Global Luxury Packaging Market Overview: By Material
      • 5.1.1 Global Luxury Packaging Market Share, By Material, 2023 and 2033
    • 5.2 Paperboard
      • 5.2.1 Global Luxury Packaging Market by Paperboard, 2024 – 2033 (USD Billion)
    • 5.3 Glass
      • 5.3.1 Global Luxury Packaging Market by Glass, 2024 – 2033 (USD Billion)
    • 5.4 Metal
      • 5.4.1 Global Luxury Packaging Market by Metal, 2024 – 2033 (USD Billion)
    • 5.5 Plastics
      • 5.5.1 Global Luxury Packaging Market by Plastics, 2024 – 2033 (USD Billion)
    • 5.6 Others
      • 5.6.1 Global Luxury Packaging Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Luxury Packaging Market – Packaging Type Analysis
    • 6.1 Global Luxury Packaging Market Overview: By Packaging Type
      • 6.1.1 Global Luxury Packaging Market Share, By Packaging Type, 2023 and 2033
    • 6.2 Boxes
      • 6.2.1 Global Luxury Packaging Market by Boxes, 2024 – 2033 (USD Billion)
    • 6.3 Bottles
      • 6.3.1 Global Luxury Packaging Market by Bottles, 2024 – 2033 (USD Billion)
    • 6.4 Bags
      • 6.4.1 Global Luxury Packaging Market by Bags, 2024 – 2033 (USD Billion)
    • 6.5 Containers
      • 6.5.1 Global Luxury Packaging Market by Containers, 2024 – 2033 (USD Billion)
    • 6.6 Others
      • 6.6.1 Global Luxury Packaging Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Luxury Packaging Market – End User Analysis
    • 7.1 Global Luxury Packaging Market Overview: By End User
      • 7.1.1 Global Luxury Packaging Market Share, By End User, 2023 and 2033
    • 7.2 Cosmetics and Fragrances
      • 7.2.1 Global Luxury Packaging Market by Cosmetics and Fragrances, 2024 – 2033 (USD Billion)
    • 7.3 Confectionery
      • 7.3.1 Global Luxury Packaging Market by Confectionery, 2024 – 2033 (USD Billion)
    • 7.4 Watches and Jewellery
      • 7.4.1 Global Luxury Packaging Market by Watches and Jewellery, 2024 – 2033 (USD Billion)
    • 7.5 Others
      • 7.5.1 Global Luxury Packaging Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 8. Luxury Packaging Market – Regional Analysis
    • 8.1 Global Luxury Packaging Market Regional Overview
    • 8.2 Global Luxury Packaging Market Share, by Region, 2023 & 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Luxury Packaging Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Luxury Packaging Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Luxury Packaging Market, by Material, 2024 – 2033
      • 8.4.1 North America Luxury Packaging Market, by Material, 2024 – 2033 (USD Billion)
    • 8.5 North America Luxury Packaging Market, by Packaging Type, 2024 – 2033
      • 8.5.1 North America Luxury Packaging Market, by Packaging Type, 2024 – 2033 (USD Billion)
    • 8.6 North America Luxury Packaging Market, by End User, 2024 – 2033
      • 8.6.1 North America Luxury Packaging Market, by End User, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Luxury Packaging Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Luxury Packaging Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Luxury Packaging Market, by Material, 2024 – 2033
      • 8.8.1 Europe Luxury Packaging Market, by Material, 2024 – 2033 (USD Billion)
    • 8.9 Europe Luxury Packaging Market, by Packaging Type, 2024 – 2033
      • 8.9.1 Europe Luxury Packaging Market, by Packaging Type, 2024 – 2033 (USD Billion)
    • 8.10 Europe Luxury Packaging Market, by End User, 2024 – 2033
      • 8.10.1 Europe Luxury Packaging Market, by End User, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Luxury Packaging Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Luxury Packaging Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Luxury Packaging Market, by Material, 2024 – 2033
      • 8.12.1 Asia Pacific Luxury Packaging Market, by Material, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Luxury Packaging Market, by Packaging Type, 2024 – 2033
      • 8.13.1 Asia Pacific Luxury Packaging Market, by Packaging Type, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Luxury Packaging Market, by End User, 2024 – 2033
      • 8.14.1 Asia Pacific Luxury Packaging Market, by End User, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Luxury Packaging Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Luxury Packaging Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Luxury Packaging Market, by Material, 2024 – 2033
      • 8.16.1 Latin America Luxury Packaging Market, by Material, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Luxury Packaging Market, by Packaging Type, 2024 – 2033
      • 8.17.1 Latin America Luxury Packaging Market, by Packaging Type, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Luxury Packaging Market, by End User, 2024 – 2033
      • 8.18.1 Latin America Luxury Packaging Market, by End User, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Luxury Packaging Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Luxury Packaging Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Luxury Packaging Market, by Material, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Luxury Packaging Market, by Material, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Luxury Packaging Market, by Packaging Type, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Luxury Packaging Market, by Packaging Type, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Luxury Packaging Market, by End User, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Luxury Packaging Market, by End User, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Amcor plc
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 DS Smith plc
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 WestRock Company
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 International Paper Company
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Mondi Group
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Smurfit Kappa Group
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Crown Holdings Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Ardagh Group
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Sonoco Products Company
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Coveris Holdings S.A.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Graphic Packaging International LLC
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Tetra Laval International S.A.
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Toyo Seikan Group Holdings Ltd.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Huhtamäki
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Ball Corporation
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Berry Global Group Inc.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
    • 9.17 Sealed Air Corporation
      • 9.17.1 Overview
      • 9.17.2 Financials
      • 9.17.3 Product Portfolio
      • 9.17.4 Business Strategy
      • 9.17.5 Recent Developments
    • 9.18 Reynolds Group Holdings Limited
      • 9.18.1 Overview
      • 9.18.2 Financials
      • 9.18.3 Product Portfolio
      • 9.18.4 Business Strategy
      • 9.18.5 Recent Developments
    • 9.19 Packaging Corporation of America
      • 9.19.1 Overview
      • 9.19.2 Financials
      • 9.19.3 Product Portfolio
      • 9.19.4 Business Strategy
      • 9.19.5 Recent Developments
    • 9.20 Stora Enso
      • 9.20.1 Overview
      • 9.20.2 Financials
      • 9.20.3 Product Portfolio
      • 9.20.4 Business Strategy
      • 9.20.5 Recent Developments
    • 9.21 Others.
      • 9.21.1 Overview
      • 9.21.2 Financials
      • 9.21.3 Product Portfolio
      • 9.21.4 Business Strategy
      • 9.21.5 Recent Developments
List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Amcor plc
  • DS Smith plc
  • WestRock Company
  • International Paper Company
  • Mondi Group
  • Smurfit Kappa Group
  • Crown Holdings Inc.
  • Ardagh Group
  • Sonoco Products Company
  • Coveris Holdings S.A.
  • Graphic Packaging International LLC
  • Tetra Laval International S.A.
  • Toyo Seikan Group Holdings Ltd.
  • Huhtamäki
  • Ball Corporation
  • Berry Global Group Inc.
  • Sealed Air Corporation
  • Reynolds Group Holdings Limited
  • Packaging Corporation of America
  • Stora Enso
  • Others

FAQs

The restraints of the Luxury Packaging market is high cost of packaging.

The major driver for the Luxury Packaging market is expanding cosmetic and personal care industry and increasing spending on premium products by customers.

The “Boxes” category dominated the market in 2023.

The key players in the market are Amcor plc, DS Smith plc, WestRock Company, International Paper Company, Mondi Group, Smurfit Kappa Group, Crown Holdings Inc., Ardagh Group, Sonoco Products Company, Coveris Holdings S.A., Graphic Packaging International LLC, Tetra Laval International S.A., Toyo Seikan Group Holdings Ltd., Huhtamäki, Ball Corporation, Berry Global Group Inc., Sealed Air Corporation, Reynolds Group Holdings Limited, Packaging Corporation of America, Stora Enso, Others.

“Asia-Pacific” had the largest share in the Luxury Packaging Market.

The global market is projected to grow at a CAGR of 5.1% during the forecast period, 2024-2033.

The Luxury Packaging Market size was valued at USD 14.3 Billion in 2024.

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