Luxury Packaging Market Size to Worth USD 28.23 Billion by 2032, CAGR of 5.22% during 2024-2032

Key companies covered in luxury packaging market report are DS Smith, Ardagh Group, Stoelzle Glass Group, WestRock, Amcor Plc, IPL Packaging Inc., and Others.

PUNE, MAHARAHTRA, INDIA, March 5, 2025 /EINPresswire.com/ -- The global luxury packaging market was valued at USD 17.98 billion in 2023 and is expected to reach USD 18.79 billion in 2024, with projections indicating a rise to USD 28.23 billion by 2032 at a CAGR of 5.22% during the forecast period. In 2023, North America led the market, holding a 33.2% share. The U.S. luxury packaging sector is anticipated to see substantial growth, reaching USD 7.78 billion by 2032.

Luxury packaging is a state-of-the-art style of packaging that increases the overall visual appeal of a product and also helps companies improve their brand image. Several market players have started using digital technologies to improve the overall visual appeal of the packaging materials. A robust rise in the number of customers opting for online shopping is one of the key factors accelerating the market’s growth.

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Report Scope:
♦ Market Size Value in 2024: $ 18.79 Bn
♦ Market Size Value in 2032: $ 28.23 Bn
♦ Growth Rate: CAGR of 5.22% (2024-2032)
♦ Base Year: 2023
♦ Years Considered for the Study: 2019-2032
♦ 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱: By Material (Paper & Paperboard, Metal, Glass, Plastic, and Others), By Product Type (Boxes & Cartons, Bottles, Bags & Pouches, Cans & Jars, and Others), By End-Use (Food & Beverages, Fashion Accessories & Apparels, Beauty & Fragrance, Consumer Goods, and Others).

♦ Luxury Packaging Market Segmentation Analysis:

Paper & Paperboard Popular in Luxury Packaging for Their Recyclability and Sustainability
The market is segmented by material into paper & paperboard, metal, glass, plastic, and others. The paper & paperboard segment holds the largest market share due to its high recyclability and sustainability, making it the material of choice for brands aiming to adopt eco-friendly practices.

Rising Demand for Customizable Boxes & Cartons
Based on product type, the market is divided into boxes & cartons, bottles, bags & pouches, cans & jars, and others. Boxes & cartons dominate the global luxury packaging market, as they provide brands with versatile customization options, helping them differentiate themselves from competitors.
Food & Beverage Brands Boost Demand for Luxury Packaging Due to Growing Gourmet Food Consumption

The market is segmented by end-use into food & beverages, fashion accessories & apparel, beauty & fragrance, consumer goods, and others. The food & beverages segment leads the global market, driven by the rising consumption of gourmet foods and drinks such as fine teas, coffee, baked goods, fine wines, and spirits.

♦ Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading product types, designs, end-users, and prominent market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂:
https://www.fortunebusinessinsights.com/luxury-packaging-market-107307

♦ LIST OF TOP KEY COMPANIES PROFILED:
• DS Smith (U.K.)
• Ardagh Group (Luxembourg)
• Stoelzle Glass Group (Austria)
• WestRock (U.S.)
• Crown Holdings Inc. (U.S.)
• O-I Glass, Inc. (U.S.)
• Amcor Plc (Switzerland)
• IPL Packaging Inc. (China)
• Thou Luxury Packaging (India)
• Elegant Packaging (U.S.)
• HH Deluxe Packaging (U.K.)
• Lucas Luxury Packaging (Ireland)

♦ Key factors driving the global Luxury Packaging Market

The global luxury packaging market is primarily driven by the increasing demand for premium products across various industries such as cosmetics, fashion, and food & beverages. Brands are investing heavily in unique packaging designs to enhance the appeal and exclusivity of their products. Consumer preferences for sustainable and eco-friendly packaging solutions have also played a crucial role in driving market growth. Additionally, the rise of e-commerce and digital marketing has encouraged luxury brands to adopt innovative packaging that offers both protection and aesthetic appeal.

♦ Challenges hampering the global Luxury Packaging Market expansion

One of the major challenges facing the luxury packaging market is the high cost associated with the production of premium packaging materials and designs, which can limit market penetration, especially in cost-sensitive regions. Additionally, the growing environmental concerns surrounding packaging waste and non-biodegradable materials pose significant regulatory hurdles, forcing brands to find a balance between luxury and sustainability. The impact of economic fluctuations on consumer spending for luxury goods also adds to market uncertainty.

♦ Potential growth opportunities in the global Luxury Packaging Market

The shift towards sustainable luxury packaging presents vast growth opportunities in the market. Companies that innovate with biodegradable, recyclable, and reusable packaging materials are likely to gain a competitive edge. Moreover, advancements in smart packaging technology, such as QR codes and NFC chips embedded in packaging for product authentication and consumer engagement, open new avenues for growth. Emerging markets, particularly in Asia and Latin America, also present significant opportunities due to the rising affluence and demand for luxury goods.

♦ Top Regions Leading the Market Growth

The top regions in the global luxury packaging market are North America, Europe, and Asia-Pacific. North America's growth is driven by high consumer demand for premium brands, particularly in fashion and cosmetics, and innovative packaging technologies. Europe dominates due to iconic luxury brands in countries like France and Italy, along with a strong focus on sustainability and design innovation. In Asia-Pacific, rapid market expansion is fueled by rising disposable incomes, increasing demand for luxury products, and the booming e-commerce sector, with China and India being key markets.

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♦ Recent Major Developments in the Market

July 2024 - Quadpack Industries announced a new project with PSB Industries, a private company, to merge Quadpack and PSB’s key subsidiary, Texen, into a single group. Texen, headquartered in Brion, France, is known for producing high-quality packaging products for the luxury perfumery and makeup markets. It has factories in France, Poland, the U.S., and Mexico.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com
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