In 2022, it is anticipated that the global gift packaging market size will be worth US$24,031.5 Million. Gift packaging sales are anticipated to increase at a CAGR of 4.4% between 2022 and 2032, reaching a value of US$ 36,964.5 Million. Online and e-commerce companies have tended to gain popularity in the giving sector recently, which is one of the causes driving the demand for gift packaging as the industry expands. The historical period from 2016 to 2021 had a 3.3% value CAGR in the demand for gift packaging. 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.
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In its upcoming business report, FMI details the historical and current scenarios of the global Gift Packaging Market in terms of production, consumption, volume and value. This report studies the market into different segments, regions and players based on demand patterns and growth prospects.
The vital information and forecast statistics covered in the Gift Packaging Market report provide established and emerging market players with the insights they need to establish long-term strategies and maintain business continuity during crises such as the ongoing COVID-19 pandemic.
Analysis of the impact of COVID-19 on the gift packaging market
The recent COVID-19 outbreak has negatively impacted various markets in the packaging industry, and the gift packaging market is no exception. Products classified as ‘necessities’ continued to record strong sales, while demand for non-essential products plummeted.
In response to government action, particularly social distancing norms and stay-at-home orders, companies operating in the gift-wrapping market have stopped production. In addition, movement restrictions and supply chain disruptions have created a logistics nightmare for market participants, resulting in severe product shortages in global markets. Several market players plan to shift their supply chains from China, the first epicenter of COVID-19.
FMI’s report includes an interesting chapter on the preliminary impact of COVID-19 on the gift packaging market. This helps both major and emerging market players to understand market scenarios during crises and make sound decisions to gain a distinct competitive advantage.
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Gift Packaging Market: Segmentation
The valuable information covered in FMI’s Gift Packaging Market report has been segmented into major segments and sub-segments.
By packaging type
- primary packaging
- secondary packaging
- tertiary packaging
By product type
- gift box
- container
- ribbon and bow
- gift sack
by material
- plastic
- paper and cardboard
- rail
- Glass
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Gift Packaging Market: Competitive Analysis
FMI’s research provides a comprehensive analysis of global, regional, and country level players operating in the Gift Packaging market. Competitive information detailed in the Gift Packaging market report is based on each market player’s innovative product launches, distribution channels, local networks, industry penetration, production methods, and revenue generation. Additionally, growth strategies and acquisitions and acquisitions (M&A) activities related to players are included in the Gift Packaging Market report.
The key players covered in the report are:
- Smurpit Kappa Group
- Shenzhen Fuxiang Gifts & Packaging Co., Ltd. Ltd.
- Ebro Color GmbH
Important Questions Answered in Gift Packaging Market Report
- Who will remain the highest revenue contributors in other regional markets?
- At what rate did the global gift packaging market expand during the forecast period?
- What will the global gift packaging market look like by the end of the forecast period?
- What innovative strategies do gift packaging market players adopt to stay ahead of the pack?
- What are the restrictions affecting the growth of the Global Gift Packaging Market?
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