Luxury packaging market expected to reach $25.8 billion by 2032, driven by consumer preferences and technology.

From GlobeNewswire: 2024-12-18 06:00:00

The Luxury Packaging Market is expected to reach USD 25.8 billion by 2032, driven by consumer preferences and technological advancements. E-commerce growth emphasizes the importance of high-quality, personalized packaging for safe product delivery. Smart packaging technologies like QR codes enhance consumer experiences and enable brands to stand out in a competitive market.

Paperboard leads the luxury packaging market with a projected CAGR of over 5% by 2032, valued at more than USD 9 billion. Its eco-friendly nature, customizability, and sustainability align well with the increasing demand for environmentally conscious packaging solutions, driving its growth in the industry.

The food and beverages segment is the fastest-growing in the luxury packaging market, with a projected CAGR of over 5% from 2024 to 2032. Brands invest in premium packaging to enhance product presentation and align with luxury branding, catering to consumer demands for artisanal and gourmet products while also focusing on sustainability.

North America holds over 30% of the global luxury packaging market share, driven by the U.S.’s demand for premium products in various sectors. The region emphasizes brand differentiation and sustainability, with leading companies adopting eco-friendly materials to address environmental concerns and drive innovation in the market.



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