Market Study on Luxury Rigid Boxes: FMI Foresees a Host of Growth Opportunities, Driven by Increasing Demand for Premium Packaging Solutions, Innovation in Design and Materials, and Growing Preference for Sustainable and Eco-Friendly Packaging Options.
NEWARK, DE / ACCESSWIRE / July 22, 2024 / The luxury rigid box market is expected to be valued at USD 4,277.9 million in 2024. The market is projected to progress at a CAGR of 3.8% from 2024 to 2034. By 2034, the market value is forecasted to hit USD 6,200.7 million.
The luxury rigid box market has been witnessing a significant increase in demand in recent years, driven by several factors. The growing preference for premium packaging solutions among consumers. As people become more conscious about the quality and design of the products they purchase, they are increasingly opting for high-end packaging that reflects the value of the product inside.
The rising demand for luxury rigid boxes is the growth of the e-commerce industry. With more and more consumers shopping online, there is a need for packaging that can protect products during transit and also provide a premium unboxing experience.
In addition, the luxury rigid box market is benefiting from the increasing use of packaging as a marketing tool. Brands are investing in packaging that can communicate their values, mission, and unique selling proposition to consumers. Luxury rigid boxes are an effective way to achieve this, as they offer plenty of space for branding, messaging, and customization.
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The demand for luxury rigid boxes is also being driven by the rise of sustainable packaging solutions. With consumers becoming more environmentally conscious, there is a growing need for packaging that is eco-friendly and recyclable. Luxury rigid boxes are often made from materials such as paperboard, which can be recycled and reused, making them a sustainable choice for brands.
The beauty and personal care market is constantly changing, yet the luxury boxes segment mostly remained at the center of attention, proving that premium packaging plays a key role in toss formation to influence consumer behavior.
"Increase in online shopping and mainstream emergence of delivery-at-doorstep services have stimulated the luxury rigid box market growth. The dynamic interplay of food and beauty industries drives the market forward," Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways of the Luxury Rigid Box Market:
By packaging type, two piece box is estimated to hold a market share of 31.4% in 2024 and is expected to witness a CAGR of 3.9% through 2034.
By material, paper & paperboard is estimated to hold a market share of 66.7% in 2024 and is expected to witness a growth rate of 4.1% till 2034.
As per the end-use analysis, the consumer goods segment accounts for the maximum sales of luxury rigid packaging. The segment is estimated to hold around 32.7% of the market share in 2024.
Competitive Landscape
There is a wide variety of luxury rigid boxes offered by several key players competing for a larger market share. These boxes cater to various industries, including cosmetics, food and beverage, and personal care. To remain competitive, companies are focusing on innovation, customizing their products, and increasing their sustainability efforts.
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Key Players in the Luxury Rigid Box Market
Robinson Plc
DS Smith Plc
PakFactory
Madovar Packaging Inc.
Burt Rigid Box, Inc.
Holmen AB ADR (Iggesund Paperboard)
Elegant Packaging
Elite Marking Systems
Design Packaging, Inc.
Bigso Box Of Sweden
ACG | Ecopack (Finn Industries, Inc.)
JohnsByrne
Sunrise Packaging, Inc.
Asia Korea Printing Inc.
Bell Printers
Prime Line Packaging
Npack ltd.
Taylor Box Company
Market Segmentation of the Luxury Rigid Box Market
By Packaging Type:
Hinge lid Box
Collapsible Box
Rigid Sleeve Box
Shoulder Neck Box
Two piece Box
Telescopic Box
Others
By Material Type:
Fabrics
Metals
Plastics
Paper & Paper Board
Wood
By Closure Type:
Magnetic Closure
Ribbon tie
Mechanical Lock
Others
By Inserts:
Without Inserts
-
With Inserts
Foam Inserts
Plastic Inserts
Paper or Paperboard Insert
By End Use:
-
Fashion Accessories & Apparel
Watches
Jewelry
Sunglasses
Ties
Shoes
Apparels
Others
-
Food & Beverages
Cookies & Biscuits
Chocolates
Sweets
Alcoholic beverages
Others
-
Consumer Goods
Flowers
Ceramics
Glass craft
Metal craft
Others
Perfumes
Consumer Electronics
By Region:
North America
Latin America
Europe
Asia Pacific
MEA
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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SOURCE: Future Market Insights, Inc.
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