Worldwide Luxury Packaging Market estimated to reach $23 billion by 2021

The Worldwide Luxury Packaging market is estimated to reach a value of $23 billion by 2021, growing at a CAGR of 4.96% during the forecast period.

The report “Strategic Assessment of Worldwide Luxury Packaging Market and Forecast 2021”, recently released by Research and Markets, considers the present scenario and growth aspect of worldwide Luxury Packaging market and strategic assessment of the market for the period 2015-2021.The report includes the market growth drivers, trends, and restraints. The report gives a market segmentation.
The market continues to grow by exciting trends such as the surge of personalized packaging, increasing awareness to sustainability issues, demographic and economic drivers. It is one of the most lucrative opportunities in the packaging industry. The prestigious brands look for new packaging techniques and innovations to enable their products to shine in extremely competitive shelf spaces.
The packaging sales in the emerging markets are expected to continue to show strong growth. As both increased consumer consumption and demand for luxury goods drives the need for more sophisticated packaging.
Luxury Packaging – Geographic Analysis
The report includes the market analysis of different regions such as North America, APAC, Latin America, Europe and MEA. The report outlines the major market share holder and the market size analysis of all the regions US is the largest luxury market in the world with a revenue share of 21.5% in 2015. China is the world’s second largest consumer of luxury goods and second largest luxury packaging manufacturer in the world. Europe with a 36% consumption share of the world’s luxury good market in terms of revenues. Also Europe is the hub for majority of luxury houses. European countries such as Brazil is more into fashion product packaging, hence it drives the Packaging market.
Luxury Packaging – Market trends, Drivers and Restraints
Rapid growth of E-commerce in emerging markets is the key driver of the luxury packaging market. The factor that packaging and display helps creating a competitive advantage for luxury goods is also driving the market. Customers purchasing luxury goods are also seeking for the packaging that plays the part. Packaging plays an integral part of the brand image, especially for luxury items. With the ever-changing landscape of product packaging, the ability to keep pace with packaging trends could have a significant impact on company’s market share. Companies are creating an experience around their product through their packaging and linking closely with marketing strategies and social media.
Luxury Packaging – Market Share and Key Vendors
This market research profiles the major companies in the luxury packaging market and also provides the competitive landscape and market share of key the players. The report covers the entire market outlook regarding the value chain operating within the market.
The major vendors dominating the luxury packaging market are Amcor, Crown Holdings, International Paper, WestRock, Owen-Illinois.
Other Prominent vendors included in the report are Ardagh Group, BC Boncar, Ch.Dahlinger, Stolzle Glass Group, Pendragon presentation Packaging, Fleet Luxury, HH Deluxe Packaging, Euro Box, Keenpac, MW Luxury Packaging.
For more information please visit: http://www.researchandmarkets.com/publication/mlb17hz/3927166