The global luxury rigid boxes market size was USD 4 Billion in 2022 and is likely to reach USD 6.42 Billion by 2031, expanding at a CAGR of 5.4% during 2023–2031. Rising demand for luxury packaging of goods and products for branding purposes is estimated to fuel the market in the coming years.
Every business wants to brand its products and services for acquisition of new customers and to win customer loyalty in the business. Luxury rigid boxes are elegant packaging solutions for businesses that want to increase brand recognition and win customer loyalty. These boxes are made of high-quality materials and exhibit a lasting impression on the receiver with customized branding.
Luxury rigid boxes provide excellent protection for the items to be packed while adding a touch of royalty and luxury. Luxury rigid boxes have an aristocratic appearance and are highly durable. They can withstand rough handling or exposure to volatile weather during transportation and storage.
These boxes are used in packaging luxury items including luxury watches, pens, cosmetics, accessories, and exotic food items. They are made up of wood, fabric, metal, plastic, paperboard, and paper for presentable proportions.
Luxury rigid boxes are designed as per the requirements of the clients. These boxes represent the culture, character, and differentiated characteristics of the organization. Rising popularity of luxurious phones, tablets, automotive accessories, and pens boosts the demand for these boxes.
Luxury Rigid Boxes Market Dynamics
Drivers
Rising need for branding of goods for branding of products and winning customer loyalty is expected to drive the market. Branding of products is an important aspect of marketing products. Luxury rigid boxes provide effective branding for business owners.
Restraints
High capital investments and availability of multiple sales channels that offer competitive prices for consumers are likely to hinder the market. The production of luxury rigid boxes requires high initial investment and a high cost of procurement for high-quality material.
Opportunities
Rising popularity of luxury items such as luxury phones, tablets, and pens creates significant opportunities in the market. Rise in the adoption of e-commerce services has increased consumer expectations. Moreover, companies are using multiple sales channels to allow customers to customize their box, while offering them with multiple discounts and boxes at competitive prices. Thus creating opportunities in the market.
Scope of the Luxury Rigid Boxes Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Luxury Rigid Boxes Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Material (Metals, Paper & Paperboards, Plastics, and Fabrics), Packaging Type (Rigid Sleeve Box, Hinge Lid Box, and Collapsible Box), Closure Type (Mechanical Lock, Ribbon Tie, and Magnetic Closure), Insert Type (Without Insert, Foam Inserts, and With Insert), and End-user Industry (Food & Beverages, Consumer Goods, and Fashion Accessories & Apparels)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Crown Equipment Corporation; Lucas Luxury Packaging; Pendragon Presentation Packaging Ltd; M.W. Creative LLC; McLaren Packaging Ltd; Ardagh Group S.A.; Winter and Company AG; and Progress Packaging Ltd.
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Luxury Rigid Boxes Market Segment Insights
Based on material, the luxury rigid boxes market is divided into metals, paper & paperboards, plastics, and fabrics. The paper & paperboards segment is expected to expand at a significant pace during the projection period owing to rising consumer concerns about environmental sustainability and waste material management. Companies are focusing on sustainable smart packaging solutions through innovation and enhanced aesthetics. Paper & paperboard serve as biodegradable packaging materials for the production of luxury rigid boxes.
On the basis of packaging type, the global market is segregated into rigid sleeve box, hinge lid box, and collapsible box. The hinge lid box segment is projected to register a considerable CAGR during the forecast period due to the convenience and utility offered by the hinge lid boxes during the packaging and handling of the products to be shipped or presented. The hinge lid boxes are preferred due to the easy handling of the luxury packaging.
In terms of closure type, the luxury rigid boxes market is segmented into mechanical lock, ribbon tie, and magnetic closure. The magnetic closure segment is expected to expand at a robust pace during the forecast period owing to the easy handling of magnetic closure type of packaging for customers. Magnetic closures are handled comfortably and thus, are an attractive proposition for companies to attract customers.
On the basis of insert type, the market is categorized as without insert, foam insert, and with insert. The foam insert segment is expected to expand at a high CAGR during the forecast period. Foam inserts hold the products within the box in place, allowing the customers to fill the boxes with delicate items made from glass or china, while making the products and the box look luxurious.
Based on end-user industry, the luxury rigid boxes market is segmented into food & beverages, consumer goods, and fashion accessories & apparels. The food & beverages segment is expected to expand at a robust growth rate during the forecast period owing to the rising trend of selling gourmet food & beverages in attractive packaging. Additionally, food & beverages are packed in luxury boxes during the festive season, and for special occasions, thus boosting the segment.
In terms of region, the global luxury rigid boxes market is fragmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the global market during the projection period due to innovative marketing techniques adopted by various goods and products providers in the region. Companies in North America attract customers by providing differentiated and best-in-class services to customers. Luxury rigid boxes serve as an ideal branding method for companies.
Segments
The luxury rigid boxes market has been segmented on the basis of
Material
- Metals
- Paper & Paperboards
- Plastics
- Fabrics
Packaging Type
- Rigid Sleeve Box
- Hinge Lid Box
- Collapsible Box
Closure Type
- Mechanical Lock
- Ribbon Tie
- Magnetic Closure
Insert Type
- Without Insert
- Foam Inserts
- With Insert
End-user Industry
- Food & Beverages
- Consumer Goods
- Fashion Accessories & Apparels
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global luxury rigid boxes market are Crown Equipment Corporation; Lucas Luxury Packaging; Pendragon Presentation Packaging Ltd; M.W. Creative LLC; McLaren Packaging Ltd; Ardagh Group S.A.; Winter and Company AG; and Progress Packaging Ltd. These companies adopted development strategies such as R&D, mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to increase their consumer base worldwide. For instance,
- In November 2022, Ardagh Group S.A. collaborated with B&B studio and Belvoir Farm to design glass bottles from recycled glass for a range of sophisticated and non-alcoholic botanical sodas. The bottles are intricately designed to protect the carbonated drink packed inside the bottles.
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