Luxury Packaging Market to Reach $4.38 Billion by 2021 – Beige Market Intelligence Identified the Top Product Segments Driving the Market
The Luxury Packaging Market is expected to grow at a Compound Annual Growth Rate of 4.96% till 2021. According to the research analysts at Beige Market Intelligence.
Bangalore, India, September 08, 2016 --(PR.com)-- A recent research report on Global Luxury Packaging Market – Strategic Assessment and Forecast till 2021 has outlined the major driving factors of Worldwide Luxury Packaging Market.
Luxury Packaging includes the packaging of luxury products such as Jewellery, Confectionary, Watches, Tobacco, Premium Alcoholic Products, Food and Beverages and other personalised gifts. The packaging of the products is determining the value of the product as well as helps in safeguarding the product. The type of Packaging not only gives a brand value to the product but also attracting the consumers to buy. Hence there is certainly a huge market for the packaging industry.
The Luxury Packaging Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.96% till 2021. According to the research analysts at Beige Market Intelligence. The analysts have done a value chain analysis and a detailed study of the Luxury Packaging Market to forecast the market size, growth, emerging trends and operational strategies of key vendors.
Luxury Packaging Market- Market Analysis and Forecast
The global luxury packaging market continues to grow, driven by exciting trends, such as the surge of personalized packaging, increasing awareness to sustainability issues, demographic and economic drivers. The Luxury packaging is one of the most lucrative opportunities in the packaging industry as 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 due to a growing upper middle class.
The luxury goods industry which includes cosmetics and fragrances, watches and jewellery, drinks, fashion, leather goods, tobacco, confectionery, and handbags, was valued at almost $648 billion in 2015. It is set to expand over the forecasted period which will positively influence luxury packaging.
The demand for luxury packaging, estimated to be $ 2.89 billion in 2015 is forecasted to rise $4.38 billion by 2021, growing at a CAGR of 7.16% in terms of revenue.
Some of the insights given by the analyst are:
Alcoholic drinks consumption is witnessing high growth and is directly influencing the alcoholic drinks packaging market. The luxury packaging market for Alcoholic beverages is expected to reach $4.23 billion by 2021.
With limited supplies of good leather, increased competition and innovative designs in the markets, leather goods manufacturers are often forced to resort to aggressive branding and marketing. Packaging started to gain prominence in accessory packaging for it can effectively convey the brand value to the consumer. The luxury packaging market for Fashion & Leather goods is expected to grow at a CAGR of 5.03% by 2021.
Gourmet food has traditionally been conferred in excessive packaging to convey its quality. However, the minimal style designs and graphics are increasingly used in the packaging which reflects luxury without the need of extravagance of excessive packaging. The luxury packaging market for Gourmet Food and drinks is expected to reach $2.3 billion by 2021.
In course of enhancing the brand value of Jewellery & Watches, the role of packaging became ever prominent as it has to communicate the brand values and elements, in addition to perform basic functionalities of security and storage. The global luxury packaging market for Watches & Jewellery segment was worth $1.72 billion in 2015 and is projected to reach $2.41 billion by 2021.
About Beige Market Intelligence:
Beige Market Intelligence is new-age provider of competitive business intelligence, working across various industry verticals. Our expertise and knowledge ensures that the market analysis Beige provides is comprehensive, detailed and complete. The analysis helps our client organizations become aware and make educated decisions, as far as investing or devising a marketing strategy is concerned. The actionable insights delivered through our market research provide a comprehensive market analysis for every level of market segmentation in an industry. Beige Market Intelligence is a quality driven high end Market Research organization. Our team of experts ensure the analysis you receive is not just analysed and smartly presented, but is completely customized based on the client’s requirement. Our deliverables guarantee our current global client base does not look beyond Beige when it comes to any kind of industry and market analysis.
Luxury Packaging includes the packaging of luxury products such as Jewellery, Confectionary, Watches, Tobacco, Premium Alcoholic Products, Food and Beverages and other personalised gifts. The packaging of the products is determining the value of the product as well as helps in safeguarding the product. The type of Packaging not only gives a brand value to the product but also attracting the consumers to buy. Hence there is certainly a huge market for the packaging industry.
The Luxury Packaging Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.96% till 2021. According to the research analysts at Beige Market Intelligence. The analysts have done a value chain analysis and a detailed study of the Luxury Packaging Market to forecast the market size, growth, emerging trends and operational strategies of key vendors.
Luxury Packaging Market- Market Analysis and Forecast
The global luxury packaging market continues to grow, driven by exciting trends, such as the surge of personalized packaging, increasing awareness to sustainability issues, demographic and economic drivers. The Luxury packaging is one of the most lucrative opportunities in the packaging industry as 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 due to a growing upper middle class.
The luxury goods industry which includes cosmetics and fragrances, watches and jewellery, drinks, fashion, leather goods, tobacco, confectionery, and handbags, was valued at almost $648 billion in 2015. It is set to expand over the forecasted period which will positively influence luxury packaging.
The demand for luxury packaging, estimated to be $ 2.89 billion in 2015 is forecasted to rise $4.38 billion by 2021, growing at a CAGR of 7.16% in terms of revenue.
Some of the insights given by the analyst are:
Alcoholic drinks consumption is witnessing high growth and is directly influencing the alcoholic drinks packaging market. The luxury packaging market for Alcoholic beverages is expected to reach $4.23 billion by 2021.
With limited supplies of good leather, increased competition and innovative designs in the markets, leather goods manufacturers are often forced to resort to aggressive branding and marketing. Packaging started to gain prominence in accessory packaging for it can effectively convey the brand value to the consumer. The luxury packaging market for Fashion & Leather goods is expected to grow at a CAGR of 5.03% by 2021.
Gourmet food has traditionally been conferred in excessive packaging to convey its quality. However, the minimal style designs and graphics are increasingly used in the packaging which reflects luxury without the need of extravagance of excessive packaging. The luxury packaging market for Gourmet Food and drinks is expected to reach $2.3 billion by 2021.
In course of enhancing the brand value of Jewellery & Watches, the role of packaging became ever prominent as it has to communicate the brand values and elements, in addition to perform basic functionalities of security and storage. The global luxury packaging market for Watches & Jewellery segment was worth $1.72 billion in 2015 and is projected to reach $2.41 billion by 2021.
About Beige Market Intelligence:
Beige Market Intelligence is new-age provider of competitive business intelligence, working across various industry verticals. Our expertise and knowledge ensures that the market analysis Beige provides is comprehensive, detailed and complete. The analysis helps our client organizations become aware and make educated decisions, as far as investing or devising a marketing strategy is concerned. The actionable insights delivered through our market research provide a comprehensive market analysis for every level of market segmentation in an industry. Beige Market Intelligence is a quality driven high end Market Research organization. Our team of experts ensure the analysis you receive is not just analysed and smartly presented, but is completely customized based on the client’s requirement. Our deliverables guarantee our current global client base does not look beyond Beige when it comes to any kind of industry and market analysis.
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Beige Market Intelligence
Khyama Patra
09986433385
http://www.beigemarketintelligence.com/reports/research-report-chemicals-materials-and-materials-mar
info@beigemarketintelligence.com
Khyama Patra
09986433385
http://www.beigemarketintelligence.com/reports/research-report-chemicals-materials-and-materials-mar
info@beigemarketintelligence.com
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