Gift Packaging market will be Massively Influenced by Macroeconomic Factors 2017 - 2027
Nowadays, wrapping paper are in demand for gifts packaging. Some of the conventional examples of wrapping paper are recycled newspaper, reusable gift wrap, decorative lunch bags, gift box, decorative shopping bags and many more. The new alternatives for gift wrapping are also being introduced, for example, using a decorative handkerchief which also has other application can further fuel the growth in demand for gift packaging market. The gift market is expected to expand with a healthy growth rate of over 10% which in turns growth of the gift packaging market in the near future.
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Gift Packaging Market: Dynamics
The growing e-commerce in the gifting space is one of the major factor which is expected to drive the demand for the gift packaging market. Big e-commerce companies such as Snapdeal and Amazon play a vital role in fuelling the demand for gift packaging market. Further, increase in per capita income, increasing exposure to global trends is offering impetus to the growth of overall gift industry which in turn is escalating the gift packaging market across the globe. Personal gifting in number of occasions like birthdays, anniversaries, father’s day, and Mother’s day is on the rise as the consumers, want uniqueness, different styles and personalization in their gift items, to match their status.
In past years, food gifting was limited to the conventional sweets only, but nowadays customers are moving towards consistent quality products with a good taste in attractive packaging, which is a result of growing incidence of adulteration in conventional sweets.
Gift Packaging Market: Segmentation
On the basis of packaging type, the global gift packaging market is segmented into,
On the basis of product type, the global gift packaging market is segmented into,
Ribbons & Bows
Tissue Paper & Shreds
Cellophane overwrap & bags
Gift card & Money holders
On the basis of Materials, the global gift packaging market is segmented into,
Paper & Paperboard
Gift Packaging Market: Region Wise Outlook
In terms of geography, the global gift packaging market divided into five regions which includes North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Out of the five regions, Asia pacific represents the largest global gift packaging market, owing to the growth of rising disposable incomes coupled with the widened customer base. In Asia Pacific, developing countries like China and India, are the most lucrative countries for increase in consumer spending and rise in GDP.
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Gift Packaging Market: Key Players
Some of the key players of the global gift packaging market are Smurfit kappa Group, Packlyn Ltd, Shenzhen Fuxiang Gifts & Packaging Co. Ltd., Interpak, Ebro Color GmbH, and many more.
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