According to the recent report from Market Research Store, the Global Luxury Packaging market is expected to grow at a CAGR of 4.82% over the period 2014-2019.
Market Research Store has published the Global Luxury Packaging market report, with the sector expected to see 1 4.82% CAGR growth over the period 2014-2019. According to the report, one of the key drivers in this market is the increased demand for aesthetically appealing packs. Packaging companies have launched many innovative packaging designs to cater to the specific requirements of customers.
The following companies were researched as key players in the Global Luxury Packaging Market: Amcor Ltd., Crown Holdings Inc., International Paper Co., MeadWestvaco Corp. and Owens-Illinois Inc.
Other prominent vendors in the market are: Ardagh Group, Aropack, Bag & Pack, BC Boncar, Benson Group, Ch. Dahlinger, Classypac, Cosmopak, Curtis Packaging, Design Packaging, Dupont, Duran Dogan, Fleet Luxury, HH Deluxe Packaging, Ijen, Interconti Systems, Italesse, Jonathan Virginia, K-1 Packaging, Keenpac, M&H Plastics, MW Luxury Packaging, Pak 2000, Pendragon Pack, Prestipack, Smurfit Kappa Group, Suttons Wrap, Treadstone, Vivant, Witty Pack and Wrapology.
Commenting on the report, an analyst said: “One of the major trends emerging in the market is an increase in demand for sustainable packaging materials. Growing consciousness about the environment is leading many customers toward products that are packaged in eco-friendly materials.”
Further, the report states that one of the major challenges faced by the market is the decreased demand for glass packaging.
Glass has been used widely in luxury packaging for many years but because of its heavy weight and high brittleness, demand is forecast to decline during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.