PRESS RELEASE: Growing Demand for Elegant Gifting to Drive the Luxury Rigid Boxes Market, Witnessing a CAGR of 5.1% along with a Steady Revenue in this Decade | Deep Data Analysis by Future Market Insights, Inc.

NEWARK, Del: The global luxury rigid boxes market stands at US$ 4 Bn as of now and is expected to witness a CAGR of 5.1% between 2022 and 2030. Luxury rigid boxes market is basically driven by the ongoing trend of demand for attractive packaging of the gift items for all the occasions. This helps in building the brand value as well. The post-Covid-19 era is seeing a rising demand for online shopping. The individuals could thus get attractively packaged products just after a few clicks. This factor is bound to take the luxury rigid boxes market by storm in the upcoming period.

Luxury rigid boxes prove to be convenient for almost every kind of product, right from chocolates to the pricy items. The market is also witnessing technological advancements like incorporation of NFC and RFID, thereby improvising on consumers’ experience.

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The market is also tilting toward paper and paperboard-based products to enable rigid packaging as they could be used several times and rendered sustainable and flexible. The manufacturers are refraining from using plastic packaging in the interest of environment. They are also looking out for ready-to-display/self-ready packaging via luxury boxes, and, not to forget – zero deformation packaging solutions. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Luxury Rigid Boxes Market’. Its team of analysts and consultants is into tabling the report with all the micros and macros at disposal.

Key Takeaways from Luxury Rigid Boxes Market

• Europe holds the largest market share with Germany leading from the front. This could be credited to the fact that the German Trade and Invest (FTAI) has stated in its report entitled ‘The Food and Beverage Industry in Germany’ issue dated 2019-20 that close to 33% of processed food produced in Germany falls in the category of ‘exports’ and nearly US$ 1.9 Bn were invested for innovation.
• Coming to the Asia-Pacific, India holds more than 20% of the overall revenue. Government has taken various initiatives for giving affordable manufacturing infrastructure and quality for supplementing development of the country’s ‘electronics and ‘electrical’ end-users in luxury rigid boxes market. Invest India has stated that Indian electronics market was valued at US$ 118 Bn as of the year 2020 and also that the region stands second as far as production of mobiles is concerned. EMS (Electronics Manufacturing Service) vertical is expected to grow 6.5 times the existing market share.

Competitive Boxes

• Metsa Board, in January 2019, tabled novel luxury box called ‘SkinCare 2.0 gift box’ that makes use of fiber-based materials for replacing plastic.
• Robinson Packaging, in February 2021, started manufacturing bespoke luxury rigid boxes. Robinson does dole out quality boxes for verticals including food and confectionery, cosmetics, toiletries, and multimedia.
• Robinson, in January 2022, entered into collaboration with Fortnum and Mason for launching novel boxes made out of entirely recycled paperboard.

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“The luxury rigid boxes market is expected to grow irrevocably in the near future in the wake of luxury rigid boxes being cost-effective and lightweight”, says an analyst from Future Market Insights.

How does the Report unfold itself?
• The research study is based on packaging type (hinge lid box, collapsible box, rigid sleeve box, shoulder neck box, two piece box, telescopic box, and likewise), by material (fabrics, metals, plastics, paper & paper board, and wood), by closure type (magnetic closure, ribbon tie, mechanical lock, and likewise), by inserts (without insert and with insert (foam inserts, plastic inserts, and paper or paperboard insert), and end-use (fashion accessories & apparels (watches, jewelry, sunglasses, ties, shoes, apparels, and likewise), food & beverages (cookies & biscuits, chocolates, sweets, alcoholic beverages, and others), consumer goods (flowers, ceramics, glass craft, metal craft, and likewise), perfumes, and consumer electronics.
• The end-users of luxury rigid boxes include pens, luxury cosmetics, electronic accessories, watches, confectionery foods, and likewise. As such, there would be no dearth of opportunities for luxury rigid boxes market.

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