Luxury rigid boxes have been an ideal solutions for product premiumization. They add to the appearance and aesthetics, boosting sales of the beauty and personal care products. This has prompted the end-use segment to use luxury rigid boxes to make impactful designs to lure in more consumers. With a booming beauty products market, analysts anticipate that luxury rigid boxes will see excellent growth opportunities.
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Luxury rigid boxes market is projected to reach over US$ 5.4 Bn by 2030, as per the new market study published by the ESOMAR recognized research firm Future Market Insights.
“Luxury rigid boxes are the elegant and sophisticated medium for presenting products. Additionally, these boxes promote impulse purchasing of the products. Demand for luxury rigid boxes among end users is consistently increasing to build and enhance positive brand image. In spite of declining phase of luxury rigid boxes market in 2020 due to COVID 2019, significant revenue generating opportunities are anticipated with explosive nature of e-commerce and digital shopping,” says and FMI analyst.
The global leaders of beauty and personal care industries including Unilever, L’Oréal, Estée Lauder Procter & Gamble, and Shiseido and Coty have collectively reported soaring revenues, which is expected to translate with bigger budgets for luxury packaging of products. North America and Asia Pacific leading market for beauty and personal care markets and holding nearly 64% market share. All of these statistics point towards brilliant growth opportunities for luxury rigid boxes, which are continuously evolving to keep with the changing demands. Today, demand for eco-friendly packaging materials is also being factored in the production of luxury rigid boxes.
The key players of global luxury rigid boxes market are Robinson Plc, McLaren Packaging Ltd, DS Smith Packaging Limited, 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, Autajon, Npack ltd., Taylor Box Company, among others.
Impact of COVID-19 on Luxury Rigid Boxes Market
Manufacturers across the globe are facing several challenges in production of luxury rigid boxes due to COVID-19. This is primarily due to disrupted supply chain and trade related regulations. COVID-19 has had a negative impact on the economic activities and unfortunately, a quick recovery of the situations is possibly difficult. However, as global supply chains are disrupted, governments across various regions are considering stimulus packages to revamp the economy.
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Increasing Spending on Luxury Goods Boosts Demand for Luxury Packaging
Launch of new stores across developed and developing countries fuelling the consumption trends around luxury market are expected to complement market growth. Growing number of Millennials and Generation Z with high disposable incomes, reaching their spending peaks are setting trends with regards to shopping for luxury items.
Key Segment
By Packaging Type
- Hinge Lid Box
- Collapsible Box
- Rigid Sleeve Box
- Shoulder Neck Box
- Two Piece Box
- Telescopic Box
- Others
By Closure Type
- Magnetic Closure
- Ribbon Tie
- Mechanical Lock
- Frictional Seal
By Insert Type
- With Insert
- Without insert
By Material
- Fabrics
- Metals
- Plastics
- Paper & Paper Board
Personalized Luxury Boxes for Confectionery Packaging Gains Special Attention
Confectioners and bakers have been opting for luxury boxes for artisanal packaging of products to establish brand value and maintain transparency about ingredients. Chocolate gifting luxury boxes with custom messages are a sustained trend in the market. Many confectionery shops and delivery services provide the option of printing personalized images or photos on luxury boxes to delight their customers.
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Key Takeaways of Luxury rigid boxes Market Study
- Consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030
- Two piece boxes estimated to have an incremental opportunity of US$ 268 Mn by 2025
- Paper and paperboard estimated to account for 68% of the global market by value, and reach slightly over US$ 3.6 Bn in 2030
- Magnetic closure is estimated to gain by 180 bps of current market share during the forecast period
- Foam inserts are estimated to have a significant market share by insert types, accounting for more than half of the market share by 2030
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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