Luxury Rigid Boxes Market Poised for Striking Growth: Projected to Reach US$ 5.4 Billion by 2030 | FMI

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Anticipated to be worth approximately US$ 4.0 billion in 2022, the worldwide market for luxury rigid boxes is on track to ascend to US$ 5.4 billion by 2030, propelled by a Compound Annual Growth Rate (CAGR) of 3.9%.

Future Market Insights presents a comprehensive analysis, comparing and reviewing the dynamics of the luxury rigid boxes market. This assessment is primarily shaped by various industry factors, coupled with specific influences. Rising concerns about the product’s cost emerge as a potential challenge for the industry, given the presence of numerous substitute channels offering more affordable options. The luxury rigid boxes market, while navigating these challenges, remains subject to a nuanced interplay of factors that influence its trajectory. It is imperative for industry stakeholders to address cost-related concerns strategically and explore avenues to maintain competitiveness in the market.

The German luxury rigid boxes market is poised for a robust CAGR of 3.6% in the forecast period. Europe’s food and beverage industry, experiencing consistent growth over the past decade, is a significant driver. The region sees a rising consumer inclination toward packaged food and beverages, fueling market expansion. According to the German Trade and Invest (GTAI) report, Germany’s food and beverage industry, contributing to the trend, exports almost one-third of its processed food. Notably, German companies in this sector allocated over US$ 1.9 billion to innovations and product development, showcasing a commitment to advancement and market competitiveness.

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Key Takeaways from the Luxury Rigid Box Market Study:

  1. The consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030.
  2. Two-piece boxes are estimated to have an incremental opportunity of US$ 268 million by 2025.
  3. Paper and paperboard are estimated to account for 68% of the global market by value and reach slightly over US$ 3.6 billion in 2030.
  4. Magnetic closure is estimated to gain 180 basis points of current market share during the forecast period.
  5. Foam inserts are estimated to have a significant market share among insert types, accounting for more than half of the market share by 2030.
  6. Asia Pacific is estimated to have an incremental opportunity of US$ 930 million by 2030, driven by the increasing demand for luxury boxes for confectionery product packaging.

Competitive Landscape

The key manufacturers operating in luxury rigid boxes market are focusing on increasing their production capacity to meet the increasing demand for luxury rigid boxes. Moreover, the key players are increasing their product portfolio to cater for the growing luxury rigid boxes market.

  • In February 2021, Robinson Packaging develops and manufactures bespoke luxury rigid boxes. With expertise across many major markets, including confectionery and food, toiletries, cosmetics and multimedia, Robinson creates top quality boxes for every vendor.
  • In January 2019, Metsä Board, the paperboard and packaging manufacturer, introduced new luxury box named SkinCare 2.0 gift box which uses fibre-based materials to replace plastic.

Key Players:

  • PakFactory Canada
  • Madovar Packaging Inc.
  • Burt Rigid Box Inc.
  • Taylor Box Company
  • DS Smith plc
  • Bigso AB
  • Robinson Plc
  • Sunrise Packaging Inc.

Global Luxury Goods Market Boosts the Demand for Luxury Rigid Boxes

The surge in demand for luxury items like high-end watches, jewelry, and apparel has led to a rapid expansion of new stores, spanning both developed and developing nations. Key drivers include the growing individual expenditures and a penchant for personalized products, propelling the growth of the luxury goods market. Packaging, a crucial element in the luxury sector, significantly enhances the perceived value of products. Anticipated increases in luxury stores across Europe, Asia Pacific, and North America are expected to fuel the demand for luxury boxes in the upcoming forecast period.

Key Trends in the Luxury Rigid Boxes Market

The Luxury Rigid Boxes Market is dynamic and constantly evolving. To stay ahead, businesses need to be aware of the latest trends:

1. Sustainable Luxury

The eco-conscious consumer is driving the demand for sustainable packaging. Luxury rigid boxes now incorporate eco-friendly materials and production processes, appealing to environmentally conscious buyers.

2. Personalization Beyond Monogram

Personalized packaging is no longer limited to monograms. Customers seek tailored experiences, and luxury rigid boxes offer opportunities for unique designs, messages, and even interactive elements.

3. Minimalism with Impact

Minimalistic designs with a focus on essential elements are gaining traction. These designs exude sophistication and convey luxury through simplicity.

4. Collaborative Artistry

Collaborations between packaging designers and artists result in limited-edition luxury rigid boxes that are true collector’s items, bridging the gap between packaging and art.

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Luxury Rigid Boxes Market by Category

By Packaging Type:

  • Hinge lid Box
  • Collapsible Box
  • Rigid Sleeve Box
  • Shoulder Neck Box
  • Two piece Box
  • Telescopic Box
  • Others

By Material:

  • Fabrics
  • Metals
  • Plastics
  • Paper & Paper Board
  • Wood

By Closure Type:

  • Magnetic Closure
  • Ribbon tie
  • Mechanical Lock
  • Others

By Inserts:

  • Without insert
  • With insert
  • Foam Inserts
  • Plastic Inserts
  • Paper or Paperboard Insert

By End Use:

  • Fashion Accessories & Apparels
  • Watches
  • Jewelry
  • Sunglasses

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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