Luxury Packaging Market : Get Facts About Business Strategies 2017 – 2027
Luxury product manufacturers are inclined towards sustainable development and hence are investing in biodegradable and environment-friendly packaging. Shredhouse, a UK-based supplier of luxury packaging material, has launched shredded paper made from recycled coffee cup paper. The coffee cup paper is manufactured by recycling the coffee cups, which are single-used. Arjowiggins Graphic, a French recycled papers manufacturing company, has manufactured recycled papers suitable for luxury packaging, which contains 60% to 100% recycled paper.
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Luxury Packaging Market: Drivers and Restraints
The luxury products market is expected to exhibit high CAGR during the forecast period, which is the major driver for the growth of global luxury packaging market. The increase in the number of product launches in fashion and cosmetic sector is anticipated to boost the growth of global luxury packaging market. The investments by luxury product manufacturers in sustainable development drives the need for innovation and technologies in luxury packaging, which is anticipated to boost the growth of global luxury packaging market. The rise in penetration of online retail and travel retail also contributed the growth of global luxury packaging market.
Luxury Packaging Market: Segmentation
On the basis of product type, the global luxury packaging market can be segmented as follows:-
On the basis of packaging product, the global luxury packaging market can be segmented as follows:-
Fashion and Eyewear
Wine and Alcohol
Pastries and Sweets
On the basis of end users, the global luxury packaging market can be segmented as follows:-
Food and Beverage Industry
Retail and Consumer Products Industry
Luxury Packaging Market: Region Wise Outlook
The global luxury packaging market can be divided into five regions, namely North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA). North America holds major share in global luxury packaging market due to increase in sales of personal luxury products in the region. Europe holds the second position in global luxury packaging market due to increase in tourists spending on luxury product in the region. There is an increase in number of flagship stores and online sales in Europe, which is anticipated to exhibit significant share in global luxury packaging market. APAC is expected to register high CAGR during the forecast period due to the increase in consumer spending in China, Japan and ASEAN. Chinese consumers have significant share in luxury spending and the euro depreciation is anticipated to fuel the luxury packaging market in the country. MEA is expected to register moderate CAGR during the forecast period because of expansion by global luxury manufacturers in the region.
Luxury Packaging Market: Key Players
Some of the key players in the global luxury packaging market are as follows:
MW Creative Ltd.
Design Packaging, Inc.
HH Deluxe Packaging
Lucas Luxury Packaging
Pendragon Presentation Packaging Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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