GITNUX MARKETDATA REPORT 2024

Luxury Packaging Industry Statistics

The luxury packaging industry is projected to experience steady growth, driven by increasing demand for premium packaging solutions in the luxury goods sector.

Highlights: Luxury Packaging Industry Statistics

  • Global luxury packaging market size was valued at around USD 15.6 billion in 2020.
  • The luxury packaging industry is expected to grow at a CAGR of 5.6% from 2021 to 2027.
  • The estimated market value of the luxury packaging industry is expected to reach approximately $23 billion by 2027.
  • Rigid box packaging for luxury goods accounted for a 40% market share in 2018.
  • Paperboard material accounted for over 30% of the global luxury packaging market share in 2020.
  • North America held more than a quarter of total shares of luxury packaging market in 2019.
  • In the U.S., cosmetic & fragrance industry accounted for 40% of the luxury packaging market in 2020.
  • The luxury packaging market of Asia-Pacific region is projected to grow at a CAGR of 9.2% till 2027.
  • The plastic material segment for luxury packaging is estimated to expand at a CAGR of nearly 5% through 2026.
  • The metal segment held a significant market share of the luxury packaging market, with nearly 20% in 2019.
  • Personal and beauty care segment held the biggest share of the luxury packaging market in 2020 with over 60%.
  • The global luxury packaging market share for the premium alcoholic drinks segment is expected to increase by 2% by 2027.
  • Luxury chocolate segment is expected to grow at a moderate CAGR of 5% from 2021-2026.
  • Around 30% of the luxury packaging is used for fashion and leather goods.
  • Paper and paperboard categories in the packaging industry are anticipated to reach the value of $500 Billion by 2024 at a CAGR of 3.6%.
  • The U.K represented over 15% of the European regional share for luxury packaging in 2020.
  • The fashion & footwear sub-segment commanded a significant representation in the primary packaging segment, holding around 35% market share in 2019.

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The Latest Luxury Packaging Industry Statistics Explained

Global luxury packaging market size was valued at around USD 15.6 billion in 2020.

This statistic indicates that the total market value of luxury packaging worldwide was approximately $15.6 billion in the year 2020. This value represents the total revenue generated from the sales of luxury packaging products across various industries such as cosmetics, fashion, jewelry, and electronics. The sizeable market value suggests a strong demand for premium and high-quality packaging solutions to enhance the presentation and perceived value of luxury goods. Factors contributing to the growth of the global luxury packaging market may include increasing consumer preferences for luxury products, rising disposable incomes in emerging markets, and a focus on sustainability and eco-friendly packaging options in the luxury sector.

The luxury packaging industry is expected to grow at a CAGR of 5.6% from 2021 to 2027.

This statistic indicates that the luxury packaging industry is projected to experience a Compound Annual Growth Rate (CAGR) of 5.6% from 2021 to 2027. CAGR is a measure used to represent the annual growth rate of an investment over a specific period, assuming that the rate remains constant. In this context, the expected CAGR of 5.6% suggests that the luxury packaging industry is anticipated to steadily expand and increase its market size by an average of 5.6% each year from 2021 to 2027. This growth forecast indicates a positive outlook for the industry, highlighting potential opportunities for businesses operating in this sector and demonstrating a sustained trend of growth in the luxury packaging market over the specified time frame.

The estimated market value of the luxury packaging industry is expected to reach approximately $23 billion by 2027.

This statistic indicates that the market value of the luxury packaging industry is projected to grow significantly over the next few years, reaching about $23 billion by the year 2027. This estimate suggests a substantial increase in the demand for high-end packaging solutions for luxury products such as cosmetics, perfumes, jewelry, and electronics. Factors driving this growth may include increasing consumer preferences for premium packaging, brand differentiation strategies employed by companies, and the rise of e-commerce leading to a greater emphasis on product presentation and unboxing experiences. This forecast implies promising opportunities for businesses operating in the luxury packaging sector, as it highlights a potentially lucrative market poised for expansion in the near future.

Rigid box packaging for luxury goods accounted for a 40% market share in 2018.

This statistic indicates that in 2018, rigid box packaging was the choice for luxury goods packaging, capturing 40% of the market share. This suggests that a significant portion of luxury goods companies preferred using rigid box packaging over other packaging options such as bags or wraps. The high market share can be attributed to the perception of rigidity offering better protection for high-value items, enhancing the overall perceived quality and luxury of the product. Additionally, the aesthetic appeal and customization options of rigid box packaging may have contributed to its popularity within the luxury goods sector.

Paperboard material accounted for over 30% of the global luxury packaging market share in 2020.

The statistic that paperboard material accounted for over 30% of the global luxury packaging market share in 2020 indicates that paperboard was a prominent choice for packaging within the luxury goods industry during that year. This could be attributed to various factors such as the durability, versatility, and eco-friendliness of paperboard material, which align well with the premium market segment’s values and consumer preferences. The significant market share highlights the widespread adoption and acceptance of paperboard as a preferred material for packaging luxury products, reflecting trends towards sustainability and premium quality in the luxury packaging sector.

North America held more than a quarter of total shares of luxury packaging market in 2019.

The statistic ‘North America held more than a quarter of total shares of luxury packaging market in 2019’ indicates that North America accounted for over 25% of the global market share for luxury packaging products such as high-end boxes, bags, and containers used by luxury brands for their products. This suggests that North America was a significant player in the luxury packaging industry in 2019, with a sizeable portion of the market belonging to firms operating in this region. This statistic highlights the strong presence and demand for luxury packaging products in North America during that particular year.

In the U.S., cosmetic & fragrance industry accounted for 40% of the luxury packaging market in 2020.

In the U.S. in 2020, the cosmetic and fragrance industry held a significant share of the luxury packaging market, accounting for 40% of the total market. This statistic indicates that nearly half of the luxury packaging used in the country was attributed to products in the cosmetic and fragrance sector, highlighting the industry’s considerable demand for premium packaging materials and designs. This share of the market reflects the importance of packaging in attracting consumers and enhancing the perceived value of these luxury products, showing the significant influence of the cosmetic and fragrance industry within the luxury packaging market segment in the U.S.

The luxury packaging market of Asia-Pacific region is projected to grow at a CAGR of 9.2% till 2027.

This statistic indicates that the luxury packaging market in the Asia-Pacific region is expected to experience a Compound Annual Growth Rate (CAGR) of 9.2% until the year 2027. This rate of growth suggests a steady and consistent increase in the demand and market size for luxury packaging products across countries in the Asia-Pacific region over the next few years. Factors such as increasing disposable incomes, changing consumer preferences, and a growing focus on premium packaging solutions are likely driving this projected growth. Businesses operating in the luxury packaging industry in the Asia-Pacific region may benefit from this trend by adapting their strategies to capitalize on the expanding market opportunities.

The plastic material segment for luxury packaging is estimated to expand at a CAGR of nearly 5% through 2026.

This statistic indicates that the plastic material segment within the luxury packaging industry is expected to grow steadily at a Compound Annual Growth Rate (CAGR) of approximately 5% over the forecast period until 2026. This growth projection suggests that there is increasing demand and market opportunities for luxury packaging products made from plastic materials. The sustained expansion at a consistent rate highlights the attractiveness and potential profitability of this segment, reflecting evolving consumer preferences, industry trends, and potentially advancements in plastic packaging technologies. Businesses operating in the luxury packaging industry can leverage this information to make strategic decisions, such as investments in research and development or marketing efforts, to capitalize on the projected growth in the plastic material segment.

The metal segment held a significant market share of the luxury packaging market, with nearly 20% in 2019.

The statistic indicates that in 2019, the metal segment within the luxury packaging market had a noteworthy presence, accounting for close to one-fifth, or approximately 20%, of the total market share. This suggests that metal-based packaging materials, such as aluminum or steel, were popular choices among luxury brands seeking premium packaging solutions for their products. The significant market share held by the metal segment demonstrates a strong demand for high-quality and visually appealing packaging options within the luxury industry, reflecting consumer preferences and trends towards sophisticated and durable packaging materials.

Personal and beauty care segment held the biggest share of the luxury packaging market in 2020 with over 60%.

This statistic indicates that the personal and beauty care segment dominated the luxury packaging market in 2020, holding a substantial share of over 60%. This suggests that a significant portion of luxury packaging products were geared towards personal care and beauty products such as cosmetics, skincare, and fragrances. The strong presence of this segment highlights the importance of aesthetics, quality, and branding in the packaging of these types of products, as consumers in the personal and beauty care industry often place a high value on presentation and design. Due to the popularity and perceived value of luxury packaging within this segment, it has emerged as a key driver of growth and innovation in the overall luxury packaging market.

The global luxury packaging market share for the premium alcoholic drinks segment is expected to increase by 2% by 2027.

This statistic suggests that the proportion of the global luxury packaging market represented by premium alcoholic drinks is projected to grow by 2% over the next six years, reaching a higher market share by 2027. This indicates an expected increase in demand and consumption of luxury packaging for premium alcoholic beverages worldwide, reflecting potential growth in the upscale alcohol industry. Factors driving this growth could include increasing disposable incomes, changing consumer preferences towards premium products, and a focus on enhancing the perceived value and aesthetic appeal of luxury alcoholic drinks through innovative and high-end packaging solutions.

Luxury chocolate segment is expected to grow at a moderate CAGR of 5% from 2021-2026.

This statistic indicates that the luxury chocolate segment is projected to experience a moderate Compounded Annual Growth Rate (CAGR) of 5% over the period from 2021 to 2026. This suggests that the market for premium or luxury chocolates is expected to steadily expand over the next five years at a consistent annual rate of 5%. Factors such as increasing consumer demand for high-quality chocolates, evolving consumer preferences towards indulgent treats, and potential innovations in the luxury chocolate sector could contribute to this anticipated growth in the market. The projected CAGR of 5% highlights a positive trend for the luxury chocolate segment, indicating potential opportunities for businesses operating in this market to capitalize on the growing demand for upscale chocolate products.

Around 30% of the luxury packaging is used for fashion and leather goods.

This statistic suggests that approximately 30% of high-end packaging materials are dedicated to the fashion and leather goods industry. This information indicates a substantial portion of luxury packaging resources are allocated to products such as clothing, accessories, and leather goods, underscoring the significance of aesthetic appeal and perceived value in these sectors. The data implies a strong demand for luxurious packaging solutions in the fashion and leather industry, reflecting the importance of packaging in enhancing the presentation and perceived quality of these high-end goods to appeal to consumers and reinforce brand image and prestige.

Paper and paperboard categories in the packaging industry are anticipated to reach the value of $500 Billion by 2024 at a CAGR of 3.6%.

The statistic indicates that the total value of paper and paperboard categories within the packaging industry is projected to grow to $500 billion by the year 2024, driven by a Compound Annual Growth Rate (CAGR) of 3.6%. This suggests a steady and moderate growth trajectory over the specified time period. The CAGR of 3.6% represents the average annual growth rate that the industry is expected to achieve, implying sustained expansion in market size. The strong growth forecast highlights the significance of paper and paperboard materials in the packaging sector, emphasizing their continued importance in meeting consumer and industrial packaging needs.

The U.K represented over 15% of the European regional share for luxury packaging in 2020.

The statistic indicates that in 2020, the United Kingdom held a significant market share of luxury packaging within the European region, accounting for over 15% of the total. This implies that the U.K. is one of the key players in the luxury packaging industry in Europe, both in terms of production and consumption. The high percentage suggests that the U.K. likely has a strong presence in the luxury packaging market, with companies in the region either manufacturing luxury packaging products or using them for their own products. The statistic underscores the importance of the U.K. market within the European luxury packaging sector and highlights its contribution to the overall industry landscape.

The fashion & footwear sub-segment commanded a significant representation in the primary packaging segment, holding around 35% market share in 2019.

This statistic indicates that within the primary packaging segment, the fashion & footwear sub-segment had a strong presence, accounting for approximately 35% of the market share in 2019. This suggests that a considerable portion of the primary packaging industry was occupied by products related to fashion and footwear. The high market share of this sub-segment implies that it was a prominent player in the industry, potentially indicating a high demand for primary packaging solutions within the fashion and footwear sector. This information could be valuable for businesses operating within this segment to understand the competitive landscape and market dynamics for their products.

Conclusion

Luxury packaging industry statistics provide valuable insights into the trends and dynamics shaping this sector. By analyzing the data on market size, growth rates, consumer preferences, and sustainability practices, businesses can make informed decisions to stay competitive and meet the evolving needs of their customers. Keeping track of these statistics is essential for firms looking to create innovative and appealing packaging solutions that resonate with luxury consumers.

References

0. – https://www.www.euwid-packaging.com

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

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