Luxury Packaging – A Market Overview and Forecast 2020 – 2025, This report presents a profound evaluation of basic elements of Luxury Packaging industry such as production scale and profit generation. Market driving factors, newly adopted technologies, latest business methodologies have been discussed in this report. The report also forecasts the potential of the market and reviews thorough analysis of vital segments and regional markets.
“The luxury packaging market was valued at USD 16.65 billion in 2019 and is expected to reach USD 22.37 billion by 2025, at a CAGR of 4.08% over the forecast period 2020 – 2025. “
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The cannabidiol or CBD packaging trend is spreading like a tidal wave through lifestyle and beauty markets. The market for luxury products made from the non-psychoactive parts of the marijuana plant is exploding and these labels are targeting luxury retailers like Sephora and Neiman Marcus, which will give new opportunity to increase the growth of market.
– Use of sustainable and bio-degradable packaging is a key driver for the market. Companies are gradually prioritizing sustainable development over everything else, as consumers are becoming more and more environmentally aware and are seeking out more sustainable lifestyle choices. Sustainable Make-up Box is produced by Giorgio Armani to enhance the awareness towards the eco-friendly environment.
– The growing demand for travel and retail chains that offer luxury and premium brands of various products is augmenting the growth to the market. Due to the rising popularity of the travel and tourism industry, services are enhancing the experience and value for money which enables consumers to shop premium and luxury brands at a discounted price. Cosmetics company NARS revealed it’s the first ever travel retail exclusive collection for the cosmetic product and jetsetter collections.
The luxury packaging market is very fragmented and new players are entering and expanding to emerging regions. Leading vendors operating in the global market are increasing due to rise in middle-class income and rising infrastructure development. There is a high rivalry among diversified international vendors and regional players which is increasing the competition.
Scope of the Report
The luxury packaging market is growing as it has become identification for setting up a brand value. Generally used by high-end products, luxury packaging is used in healthcare and medical, FMCG, and household products.
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Furthermore, this study will help to solve the following issues:
- Cyclical dynamics-Report foresees dynamics of industries by using core analytical and unconventional market research approaches.
- Identifying key cannibalizes– Strong substitute of a product or service is that the most prominent threat. Report includes key cannibalizes of a market, by procuring marketing research. This helps in aligning new product development/launch strategies before.
- Spotting emerging trends– Report helps to identify upcoming hot market trends. Report also track possible impact and disruptions which a market would witness by a specific emerging trend.
- Interrelated opportunities–This report will allow making decisions based on data, thereby increasing the chances that the strategies will perform better.
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Customization of the Report:
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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