NEWARK, DE / ACCESSWIRE / September 27, 2022 / The global gift packaging market is expected to create lucrative growth opportunities over the projection period from 2022 to 2032 with a stable CAGR of 4.4%. The global market is anticipated to be valued at US$ 24,031.5 Million in 2022 and is predicted to surpass US$ 36,964.5 Million by 2032. Over the recent years, the phenomenal growth of the gift packaging market has been witnessed owing to a surge in the gifting space, online and retail e-commerce packaging stores have gained traction over the recent years. During the historical period ranging from 2016 to 2021, gift packaging demand grew at a 3.3% value CAGR.
On the basis of region, preferences for gift packaging vary immensely. Depending on the response of the product, drives manufacturers in order to develop new products and use innovative techniques to enhance their product offerings. The growing popularity of minimal aesthetic trends has allowed key players in the industry to offer an extensive selection of minimalistic designs.
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Major brands are embracing the trend of customized prints which is leading to improved design flexibility, and convenience for consumers. To get hold of significant growth in the gift packaging industry, e-commerce giants like Amazon and Snapdeal, ignite growth throughout the projection period.
The expansion of gift packaging is attributed to various factors such as its influence and acceptance in a wide range of situations. By making the products more aesthetically pleasing, major gift packaging companies offer greater shelf life, and minimal designs and help enhance presentation styles. These factors are anticipated to propel growth in the market.
Furthermore, the rising purchasing power of individuals is contributing positively to the growth of the market. In addition to that, the global gift packaging market is majorly driven by the trend of gifting on occasions such as birthdays, farewell parties, and anniversaries. All these factors are stimulating the growth of the market.
Corporate gifting culture is also gaining traction among companies as a means to promote themselves and establish business relationships. Corrugated gift boxes are also gaining traction owing to their several beneficial properties such as their reusability, resistance, aesthetic appeal, and much more, which are stimulating growth.
Owing to the surging environmental concerns, flexible packaging paper is gaining immense popularity. Packaging options such as cloth bags and paper bags are being considered worldwide. In order to save paper and trees, consumers are inclining toward recyclable material that can be found in the market today, resulting in the growth of this market as well.
The global gift packaging market is anticipated to witness a positive outlook by a rise in custom and personalized prints. This helps customers give a new level of customization, convenience, and design choices. As the global gift packaging market continues to witness phenomenal growth, numerous other factors, including the advent of transparent can sleeves and zippered boxes, will contribute to it.
The global gift packaging market is known to be fragmented and competitive with the presence of numerous local and regional players in the market. Marketing tactics used by key companies include mergers and acquisitions, expansions, collaborations, and partnerships.
Flexible and attractive packaging solutions have gained popularity over recent years due to which several companies are also providing production, distribution, and warehousing services besides gift packaging solutions.
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More Insights into the Gift Packaging Market
The Asia Pacific (APAC) region is anticipated to dominate the global gift packaging market. As gifting culture is growing exponentially during special occasions and within various organizations, countries like China and India are anticipated to grow at a phenomenal rate. Various countries like the United States have banned the use of plastic in several industries which have contributed to the popularity of paper boxes.
Approximately 64% of the worldwide spending is accounted for e-commerce stores in APAC, this region is expected to dominate the global e-commerce business in the future. With over 30% growth, China, Malaysia, and Indonesia follow closely behind India and the Philippines as the leading e-commerce countries.
Key Segments Profiled in the Gift Packaging Industry Survey
Gift Packaging Market by Packaging Type:
Primary Gift Packaging
Secondary Gift Packaging
Tertiary Gift Packaging
Gift Packaging Market by Product Type:
Ribbon & Bows
Tissue Paper & Shreds
Cellophane Over Wrap & Bags
Gift Cards & Money Holders
Gift Packaging Market by Material:
Paper & Paperboard
Gift Packaging Market by Region:
North America Gift Packaging Market
Latin America Gift Packaging Market
Europe Gift Packaging Market
Asia Pacific Gift Packaging Market
Middle East and Africa Gift Packaging Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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