Luxury Packaging Market Revenues to Reach USD 20.95 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Luxury Packaging Market Report (2023-2028)," the market is estimated at USD 17.05 billion in 2023. It is expected to register a CAGR of 4.20% during the forecast period.

The global luxury packaging market is expanding with the use of premium materials and advanced forms. Biodegradable and sustainable packaging is a major market driver. Fashion, consumer products, household, and personal care industries are creating the most demand for luxury packaging.

*Report Summary:*

*Report Attribute* *Details*
Market Size (2023) USD 17.05 billion
Market Size (2028) USD 20.95 billion
CAGR (2023-2028) 4.20%
Study Period 2018-2028
Fastest Growing Market Asia-Pacific
Largest Market North America
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers Shifting consumer preferences.
Increasing spending power.

*
Who are the Top Companies in the Global Luxury Packaging Market?*

The luxury packaging market is fragmented. The number of leading vendors operating in the global market is increasing. New players are expanding their businesses into emerging regions. There is a high rate of competitive rivalry among international and regional players, intensifying the competition.

The significant players in the global luxury packaging market are,

· DS Smith PLC
· Crown Holdings Inc.
· Amcor PLC
· WestRock Company
· Owens-Illinois Inc.
· International Paper Company
· Ardagh Group
· Delta Global
· GPA Global
· HH Deluxe Packaging
· Prestige Packaging Industries
· Pendragon Presentation Packaging
· Stolzle Glass Group
· Keenpac
· Elegant Packaging
· Lucas Luxury Packaging
· Luxpac Ltd
· McLaren Packaging Ltd
· B Smith Packaging Ltd

*Other Reports That Might Be of Your Interest:*

· Packaging Industry in China Report - The packaging industry in China is estimated at USD 193.50 billion in 2023. It is expected to reach USD 249.58 billion by 2028, at a CAGR of 5.22% during the forecast period (2023-2028).
· United States Ampoules Packaging Market Report - The US ampoules packaging market is expected to register a CAGR of 6.82% over the next five years.

*Key Highlights from the **Global Luxury Packaging Market **Report**:*

*Growing Demand for Bio-degradable and Sustainable Packaging*

· Paper and paperboard are favored for luxury and premium packaging because they can showcase flawless graphics and attractive decoration.
· Paper packaging is popular for labels in high-end wine, spirits, and craft beer segments. Luxury products use paperboard packaging with special coatings, printing, stamping, and embossing to attract customers.
· The global production of paper and paperboard is expected to increase in the coming years.

*Asia-Pacific Market Looks Optimistic*

· The luxury packaging market in Asia-Pacific is witnessing significant growth driven by increasing disposable income, changing consumer patterns, and the rising demand for luxury products.
· The fashion and cosmetic sectors are driving the growth of the market in the region with massive product launches and international brand expansions.
· The rise of online retail and technological innovations are contributing to the growth of the luxury packaging market.

*What are the Latest Developments in the Global Luxury Packaging Market?*

· In October 2022, Fedrigoni, a prominent paper manufacturer, acquired Guarro Casas, enhancing its selection of specialty papers for high-end printing, packaging, and other creative uses.
· In August 2022, Delta Global received a Gold Award from EcoVadis, a company that rates the sustainability of businesses.

*Mordor Intelligence has Segmented the Global Luxury Packaging Market Based on Component, Material, and Geography.*

· By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)

· Paperboard
· Glass
· Metal
· Other Material Types

· By Material (Market Size and Forecast based on Value (USD billion), 2018-2028)

· Cosmetics and Fragrances
· Confectionery
· Watches and Jewelry
· Premium Beverages
· Other End-User Industries
· By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)

· North America

· United States
· Canada

· Europe

· United Kingdom
· Germany
· France
· Russia
· Rest of Europe

· Asia Pacific

· China
· Japan
· India
· Rest of Asia-Pacific

· Latin America
· Middle East and Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Luxury Packaging Market Report (2023-2028).

*Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:*

· Food Packaging Market Report - The global food packaging market size is expected to grow from USD 352.38 billion in 2023 to USD 432.04 billion by 2028 at a CAGR of 4.16% during the forecast period (2023-2028).
· Packaging Industry in the United Arab Emirates Report - The UAE packaging market size is estimated at USD 8.87 billion in 2023. It is expected to reach USD 10.20 billion by 2028, at a CAGR of 2.84% during the forecast period (2023-2028).
· Asia-Pacific Cosmetic Packaging Market Report - The Asia-Pacific cosmetics packaging market is expected to register a CAGR of 5.5% over the next five years.

*About Mordor Intelligence:*

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

*Attachment*

· Luxury Packaging Market - Mordor Intelligence

CONTACT: Company Name: Mordor Intelligence
Email: info@mordorintelligence.com
Phone: +1 617-765-2493
Location: Hyderabad, Telangana
Country: India