Gift Packaging Market Innovative Services And Advanced Applications, Future Growth Till 2030

 Gifting is regarded as a way of expressing appreciation or gratitude. The culture of gift exchange has been evolving over the decades.


While exchanging gifts has been confined to holiday or festival season, individuals are exchanging gifts on several occasions such as farewell parties, graduation parties, house-warming parties, and anniversaries.  Further, several companies recognize employees’ performance and offer incentives in the form of gifts.


Preference of gift packaging changes according to the regional preference, which is pushing manufacturers to enhance their product line by launching new products and innovative techniques.


Recent data reveal that the worldwide market value of gift wrapping products is anticipated to value around US$ 25 Bn in the coming years. As per FMI, the global gift market will grow at a healthy CAGR during the forecast period 2020-2030.


Gift Packaging Market – Key Drivers

With the rising trend for “keeping it simple”, vibrant and aesthetically loud gift packaging designs appear to be brushed aside by basic and clean designs. Minimalistic designs aid brands to innovate based on presentation styles, enhancing the aesthetics of their offerings in the store shelves.


Major brands such as Etsy, and Zazzle provide an extensive scope of minimalistic designs with a creativity tinge, to take advantage of the growing minimal aesthetic trend.


Startups competing to mark their presence in the market are rapidly inclining toward the age-old successful franchise business concept as it provides enhanced durability and sustainable revenue benefits for both the franchisee and the franchisor.


Major brands including, DS Smith plc and Karl Knauer KG, are progressively leveraging the rising trend for customized prints in order to facilitate consumers with better design flexibility, and convenience. Moreover, the e-commerce giants such as Amazon and Snapdeal are playing an instrumental role in fuelling the gift packaging demand.

Gift Packaging Market – Growth Restraints


As the gift packaging market is characterized by the large-scale existence of local players, international players are confronting challenges in expanding their regional footprint in emerging countries. Moreover, the local companies provide gift packaging designs as per regional preferences at economic price points.


This is further raising bars for the industry goliaths. Moreover, the flourishing Do It Yourself (DIY) trend is hampering the demand for gift packaging solutions.


COVID-19 Impact Analysis

The COVID-19 pandemic has put a lot of pressure on packaging companies. With consumers strictly following stay-at-home orders amid the crisis, the gift packing market is experiencing a supply-demand gap. This has created a challenge as well as opportunity for manufacturers.

Availability of few gift packaging materials due to supply chain disruption is compelling market players to rethink their business strategies to transform their brand identities. Moreover, skyrocketing sales of products via online channels are expected to keep the gift packaging afloat as consumers are increasingly avoiding in-store purchasing.


Gift Packaging Market – Region-wise Analysis

Asia Pacific (APAC) is anticipated to witness a higher growth for the gift packaging market, owing to rising gifting culture during special occasions and in several organizations. Developing regions such as China and India are representing the regional market.


Going forward, APAC spearheads the global e-commerce industry at present, representing around 64% of worldwide e-commerce spending. The region houses majority of the rapidly growing e-commerce countries, with India and Philippines leading the pack with over 30% growth, and China, Malaysia, and Indonesia following closely.  This notable shift towards online purchasing is auguring well for gift packaging market in APAC.


Gift Packaging Market - Competitive Landscape

The global gift packaging market is highly competitive, with top five players accounting for nearly 10% of market revenue. Market players are entering into strategic acquisitions of small or regional players to fortify their presence across the regional markets.


For instance, Hallmark Cards  is capitalizing on potential growth prospects by expanding its product portfolio across developing regions such as China, and India.


Hallmark Cards has implemented a strategy - ‘Grow with Hallmark’ - that allows customers to open their gifts and greeting cards in the stores per se. Similar strategies were Packlyn Ltd

• Smurfit Kappa Group

• Shenzhen Fuxiang Gifts & Packaging Co. Ltd.

• Ebro Color GmbH


Interpak.

Region

• North America (U.S., Canada)

• Latin America (Mexico, Brazil)

• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)

• East Asia (China, Japan, South Korea)

• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)

• Oceania (Australia, New Zealand)

• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)


Report Highlights

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.


Gift Packaging Market: Segment Analysis

The global market is categorized on the following basis

By Packaging Type

• Primary Packaging

• Secondary Packaging

• Tertiary Packaging


By Product Type

• Gift boxes

• Containers

• Ribbons & Bows

• Gift Sacks

• Gift bags

• Wrapping paper

• Tissue Paper & Shreds

• Cellophane overwrap & bags

• Gift card & Money holders

• Others


By Materials

• Plastics

• Paper & Paperboard

• Metals

• Glass

• Others


For Detailed study Click here @ https://www.futuremarketinsights.com/reports/gift-packaging-market


Comments

Post a Comment

Popular posts from this blog

Beverage Coaster Market Global Analytical Study, Growth Strategies, Size, Product Type, End User, Geography And Competitive Analysis

  Global Beverage Coaster - Market Overview: A beverage coaster is a small mat which is used for resting  beverages  upon it. Beverages coaster protects the surface, such as table from getting heated or dirty from the beverage kept in a glass, cup, bowl etc. Nowadays there has been a good demand for beverage coaster due to increase in the preferences of coffee shops, pubs, lounges, etc. by consumers where the most common food items sold are beverages. The beverage coasters are made of paper or foam which soaks the excess water of beverage cups, beer mugs, etc. and protect the surface of table. Even the beverage coaster are used for providing advertisement and trademarks of several brands. Beverage coasters are usually made of paperboard, tissue paper, foam, etc. which are expected to witness extensive growth during the forecast period 2017-2025. Global Beverage Coaster - Market Dynamics: In recent years, beverage coaster market have seen a noticeable growth due to the usage in h
Read more

Bottles Market Innovative Services And Advanced Applications, Future Growth Till 2032

  A comprehensive analysis on the Bottles market by Future Market Insights (FMI) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Material, Capacity, End Use and Configuration over the next 10-years The global bottles market  is expected to reach a market valuation of  US$ 108.0 Bn by the year 2022, accelerating at a CAGR of 5.0% by 2022-2032. Future Market Insights (FMI) has predicted the bottles market size to top  US$ 108 Bn  in 2021. The packaging industry produced 146 million tonnes of plastic and waste generation by the industry was 141 million tonnes in 2015 based on research by Geyer et al. Most of the alternatives are either costlier or functionally incapable of replacing plastic. These developments are expected to have a considerable impact on the bottles market. With focus slowly shifting away from plastic as preferred material, some of
Read more

Signage Market Forecast With Potential Impact, Despite Covid-19 Pandemic, Finds FMI 2022 - 2031

  The retail industry is witnessing structural changes along with the adoption of refined strategies that will have a direct impact on the demand for signages. Highly fragmented market and increasing competition for offline stores from e-commerce businesses have resulted in changes in the conventional retail. As per a study by Future Market Insights (FMI), this will create attractive scope for the expansion of the  signage market  between 2021 and 2031. Signage for retail stores can be made in different sizes and forms based on location of installation and intent of the business, but they all have the same purpose to attract customers and increase the awareness about the brand. Signage design plays a vital part in increasing the sales of the business. Signage design is the first brand impression that many customers remember about a brand. A good signage communicates products and services of company and what can a customer can expect from the company. For instance, McDonald's em
Read more