Luxury Packaging Market to be worth more than US$16 billion by 2021

NOIDA, India - Nov. 14, 2016 - PRLog -- Knowledge Sourcing Intelligence announces the publication of a new report "Luxury Packaging Market - Forecasts from 2016 to 2021 " to their offering. The report has segmented the Luxury Packaging Market by material (paperboard, metal, glass, textile, plastic, and others.), by application (tobacco, alcoholic drinks, watches and jewellery, confectionary, cosmetics & fragrances, and others.), and by geography and estimates that the global market for luxury packaging will grow from US$12.801 billion in 2015 to US$16.385 billion by 2021, at a CAGR of 4.20% over the forecast period.

In recent years, the global luxury packaging market has witnessed perpetual growth, given the growing affluence, rising per capita income and increased demonstration effect as emerging economies prosper. High consumption expenditure coupled with rising middle class has bolstered this growth. Other factors influencing the market growth are expansion of western culture in emerging economies such as China, India, and Brazil.

Cosmetics and Fragrances account for the largest market size, while paperboard is the dominant segment by material

The global luxury packaging market is driven by cosmetics and fragrances attributable to the aesthetic value associated with the packaging of such productsand a rise in the gift giving culture owing to the integration of cultures globally.By material, paperboard constitutes the largest market share followed by the glass; while plastics segment is expected to witness the fastest growth.

Asia Pacific to witness the fastest regional market growth between 2015 and 2021

Asia Pacific is anticipated to witness the highest growth in Luxury Packaging Market with a CAGR of 6.14% during the forecast period. This growth is anticipated primarily due to high luxury consumption in the region driven by fast-growing economies like China and India.

The key players of global Luxury Packaging Market covered in this report include Classypac, Amcor, WestRock, International Paper, Curtis Packaging, Dupont, Fleet Luxury, Ijen, Italesse, K-1 Packaging, M&H Plastics, Crown Holdings.

This report contains the market analysis on the current trends in the Luxury Packaging Market and the opportunities for the vendors over the next six years. It provides deep insights into the drivers and restraints of the industry. Luxury Packaging Market report also consists of in-depth regional analysis. A lot of statistically relevant tools and detailed industry analysis models such as scenario analysis have been used to forecast the market trends and forecasts up to the year 2021.

The report also talks about the strategies adopted by the industry leaders to gain an advantage over competitors and the recent deals that they have gone into to position themselves better in this market.

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