Sales Projections and Growth Opportunities in the Gift Packaging Market

Businesses are turning to e-commerce platforms to elevate their sales. Even gift packaging vendors provide their solutions online and reap the benefits of economies of scale. By taking into account the recent market trends, gift packaging solutions merchants can sustain their existing customers, attract new ones, and reinforce their market presence.

The global Gift Packaging sector is on a trajectory of significant growth, with an estimated market value reaching an impressive US$ 37.4 billion by the year 2033. The demand for gift packaging is set to maintain a steady Compound Annual Growth Rate (CAGR) of 4.3% through the forecast period, starting from its current valuation of US$ 25.3 billion in 2023.

Gift box manufacturers are adapting to the evolving consumer preferences, with a notable shift towards minimal aesthetics. Prominent brands such as Zazzle and Etsy are at the forefront of this trend, offering an extensive range of minimalist design options. This reflects the growing inclination among consumers for uncluttered and understated designs in their gift packaging choices.

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Overview

1. Personalization: Personalization adds a special touch to gift packaging, making the recipient feel valued and appreciated. This can involve customizing the packaging with the recipient’s name, monogram, or favorite colors, as well as incorporating meaningful messages, quotes, or images.
2. Occasions: Gift packaging is often tailored to suit specific occasions such as birthdays, weddings, anniversaries, holidays, and other celebrations. Different occasions may call for different styles of packaging, ranging from playful and whimsical to sophisticated and elegant.
3. Sustainability: With increasing awareness of environmental issues, there is a growing trend towards eco-friendly gift packaging options. Sustainable materials such as recycled paper, biodegradable plastics, and natural fibers are being used to create environmentally conscious packaging solutions.

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Key Developments in the Gift Packaging Industry

• Manjushree Technopack Limited, a prominent packaging firm in India, acquired Classy Containers, one of the biggest custom-model rigid packaging firms, in August 2021. This development will help Manjushree Technopack Limited strengthen its position in this robustly flourishing market.
• Gift Wrap My Face, a self-portrait wrapping paper promoted by Khloe Kadarshian, Oprah, and Whoopi Goldberg, was developed by two ad agency creatives and acquired by Build A Head LLC in November 2021. The involved brands offer customized products for holidays, birthdays, anniversaries, birth announcements, graduations, and more. Apart from this, the brands exemplify the firm’s dedication to providing delights in all achievements of life goals.
• In April 2022, GLS and Elopak revealed a joint venture in which both firms have 50% ownership. The resultant company, GLS Elopak, will leverage the respective assets, expertise, and networks of GLS and Elopak to capture the substantial consumer demand in India. The company was founded to produce and process high-quality aseptic and fresh packaging solutions designed to ascertain the safety and accessibility of liquid food to consumers worldwide.

Key Players

• Hallmark Cards
• Packlane
• Smurfit Kappa Group
• Ebro Colour GmbH
• Interpack
• Card Factory
• DS Smith plc
• IG Design Group plc
• Karl Knauer KG
• Mondi plc
• Manjushree Technopack Limited
• Qwikcilver Solutions
• Diageo

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Key Segments

By Packaging Type:

• Primary
• Secondary
• Tertiary

By Product Type:

• Gift Boxes
• Containers
• Ribbon & Bows
• Gift Sacks
• Gift Bags
• Wrapping Paper
• Tissue Paper & Shreds
• Cellophane Over Wrap & Bags
• Gift Cards & Money Holders
• Others

By Material:

• Plastic
• Paper & Paperboard
• Metals
• Glass
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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.

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