The luxury rigid box Market is likely to induce stupendous growth during the forecast period of 2021-2031 owing to the surge in demand for packaging of consumer goods across the globe. The luxury rigid boxes are used in packaging luxury items such as pens, cosmetics, accessories, foods, watches, and others. Concurrently, the substantive demand for consumer mobile phones and their accessories may open new growth avenues for the luxury rigid box Market. Prominent manufacturers are expediting the capacity expansion in context to the increasing demand for luxury rigid box packaging worldwide.
Luxury rigid box packaging is mostly, rectangular packaging that is made up of cardboard and has a tray placed inside to retain the product properly and avoid any kind of damage. Consequently, this packaging looks attractive and presentable. Hence, the popularity and demand for luxury rigid box packaging have grown substantially. This aspect may ultimately generate good growth opportunities for the luxury rigid box Market.
The luxury rigid box Market can be segmented into metal, fabric, wood, plastic, paperboard, and paper based on material. On the basis of type, the market can be classified into two-piece boxes, shoulder neck boxes, rigid sleeve boxes, telescopic boxes, hinge lid boxes, and others. Based on closure type, the market can be categorized into frictional seal, mechanical lock, ribbon, tie, and magnetic closure. By insert type, the market can be bifurcated into with and without insert. Furthermore, the end-users can be perfumes, consumer electronics, and food and beverages.
The expert team at TMR conducts an extensive market search to study various factors that affect the growth of the luxury rigid box Market. The research report throws light on the growth parameters such as emerging trends, competitive analysis, regional perspective, key drivers, opportunities, and restraints. Further, the impact of the COVID-19 pandemic on market growth is also included. The COVID-19 impact on the market growth is also included in this report.
The emerging trend of attractive packaging of gift items for every occasion has gained immense momentum. Consequently, festive occasions are the best time for brands to establish their presence through attractive packaging. The rise in gifting options available in the luxury rigid box Market may offer lucrative growth to the market. During the COVID-19 pandemic, online shopping emerged as the most preferable option. Thus, the individuals got attracted to safe and attractively packaged products which eventually may boost the growth of the luxury rigid box Market.
The luxury rigid boxes are convenient for all kinds of products from chocolates to highly expensive items. The rising trend of gifting jewelry, personal care items, apparel, chocolates, and others among the global population may create immense growth opportunities for the luxury rigid box Market. Subsequently, the rise in disposable income of the individuals in the developing nations is likely to generate new revenue generation opportunities for the luxury rigid box Market.
The key players operating in the luxury rigid box Market are focusing on developing sustainable packaging owing to environmental concerns. Subsequently, government bodies of various countries have set stringent regulations to reduce carbon footprints. Thus, novel packaging products which are sustainable are likely to contribute to the growth of the luxury rigid box Market. In addition, research and development activities are playing a vital role in market expansion and growth.
Some of the key players in the market are DS Smith Packaging Limited, McLaren Packaging Ltd., PakFactory, Madovar Packaging Inc., Design Packaging, Inc., Prime Line Packaging, and Bigso Box of Sweden.
North America is anticipated to contribute immense revenue share to the global luxury rigid box Market owing to the digitalization and technological advancements in the luxury rigid box Market in this region. Additionally, Asia Pacific may also showcase significant growth owing to the high demand for luxury rigid boxes in this region. The celebrations and events in countries such as India and China which require gifting options on a large scale have opened new doors of opportunities for the global luxury rigid box Market.
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Luxury Rigid Box Market
