IMARC Group, a leading market research company, has recently releases report titled “Gift Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global gift packaging market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the gift packaging market?
|Market Size in 2022||US$ 22.5 Billion|
|Market Forecast in 2028||US$ 28.3 Billion|
|Growth rate (2023 to 2028)||CAGR of 3.9%|
|Base Year of the Analysis||2022|
What is gift packaging?
Gift packaging is employed to pack gifts in boxes or bags embellished with ribbons and other decorative elements to enhance their aesthetic value. Some commonly available gift packaging materials include gift boxes, ribbons, bows, wrapping paper sheets, sacks, colorful tapes, foam flowers, and bags. These products are available in numerous sizes, shapes, and colors to meet individual needs and preferences. The rising trend of gift-giving on special occasions such as anniversaries, farewells, birthdays, and festivals to express appreciation towards friends, family, and clients is escalating the demand for gift packaging services and products across the globe.
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What are the growth prospects and trends in the gift packaging industry?
The market is primarily driven by the growing trend of corporate gifting for motivating employees and promoting and establishing business relations with clients. In addition, the increasing use of personalized prints owing to their convenience, flexibility, and design possibilities, is contributing to the market growth. Moreover, the widespread adoption of corrugated gift boxes due to their benefits, such as durability, reusability, and attractive appearance, represents another major growth-inducing factor. Besides this, the introduction of eco-friendly packaging solutions, including cloth bags, to address environmental concerns is accelerating the product adoption rate. Along with this, the market is also propelled by the growing popularity of online applications offering gifting services with fast shipping facilities, convenient check-outs, and innumerable payment methods for targeting a larger consumer base. Furthermore, the increasing consumer inclination toward gifting flowers, cosmetic products, electronics, and clothes in appealing packaging solutions with tailored labels is also creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Wrapping Papers
Breakup by Material:
- Paper and Paperboards
Breakup by Packaging:
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Card Factory
- DS Smith plc
- Ebro Color GmbH
- Hallmark Cards Inc.
- IG Design Group plc
- International Packaging Corporation
- Karl Knauer KG
- Mondi plc
- Smurfit Kappa Group plc
- Yama Ribbon & Bows Co. Ltd.
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