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Gift box market poised to reach USD valuation

08/30/2022 03:40 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt.Ltd
NEWARK, Delaware, August 30, 2022 (GLOBE NEWSWIRE) — The global gift box market is expected to be valued at $3,459.3 million with sales up 6.2% during the forecast period 2022 to 2032 year. The box market is expected to reach US$1,897.2 million by the end of 2022, driven by the growing popularity of e-commerce and the consequent surge in demand for the growth of the gift box packaging industry.
Over the past few years, the e-commerce industry has reached new heights in terms of visibility and market penetration. This has had a significant impact on the packaging industry as a whole, especially the growth of the gift wrapping market. These boxes are in high demand due to the expansion of the gift culture and the growth of e-commerce and gift boxes that ensure the safe delivery of gifts. Food and beverages such as chocolate, ice cream, wine and candy are widely used as gifts throughout the world. Gift boxes will not only keep these products intact, but also make them luxurious and attractive. Other items such as jewelry, toys, cosmetics and personal care products, and electronic devices are also packaged and delivered in gift boxes.
In addition, the advantages associated with gift boxes, such as durability, reusability, damage protection, and attractive appearance, are further driving the growth of the gift box market. Limited gift wrapping options and poor quality alternatives are benefiting the gift box market a lot. In addition, paper and cardboard gift boxes have attracted attention for their recyclable and degradable properties, through increased environmental awareness and commitment to sustainability. All these factors have created a positive environment for the growth of the gift box market during the forecast period.
“The growth of the e-commerce industry, a growing gift culture and fewer alternatives to choose from are factors that will improve the outlook for the gift box market over the forecast period,” FMI analysts said.
Qingdao Hongrui Industrial Co., Ltd., Shenzhen Fuxiang Gift Packaging Co., Ltd., Bailey Box, Warner Industrial, Shanghai First Packaging Co., Ltd., Om Express Print Pack Private Limited, Valtenna Industria Cartotecnia, Shenzhen Tianya Paper Products Co . ., Ltd. Companies etc. are some of the key players in the gift box market featured in the full report.
Major market players are focused on launching and developing new products. These companies are adopting strategies such as acquisitions and mergers to expand their market presence.
In its latest report, FMI presents an unbiased analysis of the global gift boxes market, providing historical data from 2016 to 2021 and forward looking statistics from 2021 to 2031. In order to understand the potential, growth and scope of the global market, the market is segmented based on raw materials (plastic, paper, etc.), end use (consumer products, food and beverages (bread and confectionery, alcoholic beverages, frozen desserts, etc.), electronic devices, cosmetics and personal care products), product type (side sleeve gift box, telescopic gift box), printing technology (lithographic printed gift box, flexographic printed gift box, electrophotographic printed gift box, dry powder printed gift box, liquid toner printed gift box, inkjet printed gift boxes, other printed gift boxes) and regions.
According to the latest FMI report, the North American gift box market is expected to account for about 23% of the global market by the end of 2022. A year of promoting the growth of the regional market. Similarly, the growth of the gift box market has been complemented by plastic bans in several US states.
In Europe, the gift box market is expected to show significant growth during the forecast period. The regional market is expected to increase its total market share by approximately 29% by 2022. The demand for packaging, high quality, affordable packaging and the best delivery systems are the main reasons for the growth of the European market.
Growth of the luxury hard case market: The global luxury hard case market is expected to be valued at US$4.0 billion in 2022 and is expected to reach US$5.4 billion by 2030, with a CAGR of 3.9% .
Custom Packaging Box Market Types: The global custom packaging box market will be valued at US$5.7 billion in 2022. Demand is expected to grow at a CAGR of 4.7% over the forecast period and reach US$9 billion by 2032.
Blocking box market analysis forecast. The global demand for blocking boxes in 2022 is expected to be US$45.312 billion, with a CAGR of US$76.212 billion between 2022 and 2032.
Shipping Crate & Crate Market Sales: The global shipping crate & crate market will change linearly at a CAGR of 3.2% from 2022 to 2030.
Capsule Market Value: According to FMI analysts, the global capsule market is valued at $264.2 million in 2022 and is expected to grow at a CAGR of 4.5% during the forecast period from 2022 to 2032.
Download a free copy of Future Market Insights Circular Economy Smart Packaging published in partnership with Graham Packaging and Avery Dennison.
Future Market Insights, an ESOMAR-accredited market research organization and a member of the Greater New York Chamber of Commerce, provides detailed insight into the factors that influence market demand. It reveals growth opportunities in different segments over the next 10 years depending on source, application, sales channel and end use.
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Post time: Sep-12-2022