The global wristwatch packaging market is poised for significant growth, with a projected CAGR of 5.2% through 2032, according to the latest research by Future Market Insights (FMI). The market is expected to reach a valuation of US$ 4025.72 million by 2032, up from its current valuation of US$ 2424.86 million in 2022.
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Key Market Insights
- Millennial Preferences: The millennial generation’s fondness for brands, luxury, and innovation has led manufacturers to innovate wristwatch packaging with creative designs. This includes sophisticated boxes, bags, and cases to appeal to consumer preferences.
- Innovative Packaging: Key players in the market are adopting innovative and high-tech machines to increase production efficiency and minimize costs. They are using raw materials such as PET and HDPE plastic to develop lightweight and unique packaging solutions.
- Luxury Presentation: Prominent players in the market are focusing on luxury packaging to attract consumers and differentiate their products. Luxury wristwatches are often presented in extraordinary packaging to enhance the customer experience.
- Customization and Personalization: Manufacturers are taking orders from customers to provide customized packaging solutions tailored to their preferences. This includes effective gift packaging options for special occasions.
- Start-up Initiatives: Several start-ups are entering the market and developing reputable brands with open-box experiences to add value for consumers.
Market Dynamics
Manufacturers of wrist watch are focusing on product innovation and development as watch manufacturers highly demand elegant box design. Organized retail stores act as a key influencing platform to display watch boxes and cases so as to cater the demand of luxury watch segment consumers. Also, easy availability of raw material such as HDPE and PET plastic have increased the supply capacity of wrist watch packaging manufacturers.
Moreover, technological development in wrist watches has led to innovation of smart watches such as Google, Apple, Samsung, etc., which has accounted for over 5% of overall wrist watch sales which has helped to improve the volume of the wrist watch.
All such factors have surged the demand for wrist watch packaging in the regions of North America and Europe. Rising purchasing power of young and consumerist population of emerging region has increased the sales of wrist watches wherein young population accounting for a greater share of purchase.
Regional Outlook
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
In term of production the global wrist watch packaging market highly fragmented across regions of Asia pacific excluding japan, japan, North America and Europe. On the basis of consumption the market is highly concentrated with three countries that is Hong Kong, United States, China, France and Germany accounting for large market share. Market in the countries of Asia Pacific excluding Japan is expected to witness a robust CAGR over the forecast period.
Key Players
Some of the key players operating in the global wrist watch packaging market include Interpak, Linkupak, Ch. Dahlinger GmbH & Co KG, National Pak Ltd, Studioabd, Kling Display & Packaging, Cyberpac, Delu Ltd., LOMB ART.
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 categories such as market segments, geographies, type of product and applications.
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Market Segmentation
Based on material type,
- wood
- fabric
- Cardboard & paperboard
- metal which is further sub-segmented into aluminum and steel
- plastic is sub-segmented into polyethylene terephthalate (PET), high- density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), polystyrene (PS).
Based on product type,
- box,
- cases.
Based on shape type,
- round
- square
- triangle
- rectangle
- oval
- diamond shape.
About Future Market Insights (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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