Harrisburg, NC -- (SBWIRE) -- 08/20/2018 -- The global luxury packaging market is expected to register a CAGR of about 4.67% during 2018-2023 (the forecast period).
Report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Luxury Packaging production region, major players, and product type which will provide a simplified view of the Luxury Packaging industry. The Luxury Packaging market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Luxury Packaging market which will help the emerging market segments in making vital business decisions.
Global Luxury Packaging Market by Top Manufacturers (2018-2023): Group Verpack, Progress Packaging Ltd, Prestige Packaging Industries, MW Luxury Packaging, Lucas Luxury Packaging Limited, Crown Holdings Inc., Ardagh Group, Pendragon Presentation Packaging Ltd, Owens-Illinois Inc., HH Deluxe Packaging, amongst others.
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Essential points covered in Luxury Packaging Market 2018 Research are:-
- What will the market size and the growth rate be in 2023?
- What are the key factors driving the Luxury Packaging market?
- What are the key market trends impacting the growth of the Luxury Packaging market?
- What are the challenges to market growth?
- Who are the key vendors in the Luxury Packaging market?
- What are the market opportunities and threats faced by the vendors in the Luxury Packaging market?
- What are the key outcomes of the five forces analysis of the Luxury Packaging market?
This independent 117 pages report guarantees you will remain better informed than your competition. With figures examining the Luxury Packaging market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2023.
Growth in the Demand for Appealing Packaging to Drive the Market
An increase in the luxury product consumption rate and the number of product launches in the fashion and cosmetic sectors are some major factors driving the market growth. Moreover, increase in investments by manufacturers, in sustainable development, demands the need for innovation and technologies in luxury packaging, which is expected to further accelerate the growth of the luxury packaging market. Through luxury packaging solutions, each brand seems to be adopting a unique style. It further helps customers to associate products with a particular brand. Also, the major market players are concentrating on the development of packaging materials that prevent contamination of products (especially food and beverages), apart from being aesthetically appealing.
Glass to Hold the Highest Market Share
The demand for glass material is being driven by the recovering and growing main luxury markets, such as cosmetics and fragrances. Glass material remains popular with brand owners and consumers, due to its strong sustainability associations and aesthetically appealing properties. The cost associated with glass per ton is quite lower when compared to, both, luxury paperboard and plastics. Moreover, the prominence of glass in the alcoholic drinks segment is expected to drive the market demand. However, glass, on the whole, is expected to lose share in the upcoming years, owing to the growing demand for plastic packaging that is being driven by lower costs and lighter weights associated with plastic.
Browse full report at: https://www.marketinsightsreports.com/reports/0402397975/global-luxury-packaging-market-segmented-by-material-paperboard-plastic-wood-end-user-and-region-growth-trends-and-forecasts-2018-2023?source=releasewire&Mode=07
Asia-Pacific to witness the Highest Growth Rate
Asia-Pacific is expected to be the fastest growing region, owing to the increase in consumer spending in China, India, Japan, and other countries. Moreover, the demand for cosmetics and food products is expected to grow, owing to the growing population and the demand for quality products, urbanization, and consumers inclining toward technology. Large population and heavy urbanization have led to an increase in demand for frozen food products in the region. Chinese consumers are looking for easy-to-use and quality food products. Also, in the recent years, a surge in online retailing in the region is expected to drive the demand for luxury packaging solutions.
Reasons to Purchase This Report
- Understanding how the growing demand for on-time delivery affects the market scenario.
- Analyzing various perspectives of the market with the help of Porter's five forces analysis.
- The solution type and end-user that are expected to dominate the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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