The global gift packaging Industry size is projected to make considerable gains in the upcoming years owing to the traditional manner of festival celebrations across the world. Fortune Business Insights™ shares these observations in its report, titled “Gift Packaging Industry, 2022-2029”.
Gift packaging items are widely used for the packing of different items, giving them an alluring look and making them attractive for the receiver. There has been an increase in the celebration of festivals such as Christmas, Diwali, and others, which has resulted in the growth of this Industry.
Further, numerous e-commerce platforms, such as Amazon, Flipkart, and others, are offering different varieties of gift packing products and services at discounted prices during the delivery of the final product.
The COVID-19 pandemic has had a severe impact on most industries worldwide. Also, due to the lockdown restrictions and social distancing norms across the world, there has been a reduction in outdoor events and parties, which has led to a decrease in the demand for gift items, which may prove harmful for the gift packaging Industry growth.
List of Key Players Covered in the Gift Packaging Industry Report:
- Smurfit Kappa Group
- Ebro Colour GmbH
- Shenzen Fuziang Gift & Packaging Co.
- PackLyn Ltd.
- DS Smith Plc.
- Karl Knauer KG
- IG Design Group
- Hallmark Inc.
- Card Factory Plc.
- Mondi Group Plc.
The report incorporates actionable insights into the regional prospects of the Industry and provides a comprehensive analysis of the Industry drivers and challenges. Further, the report also contains detailed profiling of key Industry players and careful study of their strategies and offers a granular evaluation of the different Industry segments.
With the rising number of corporate events and seminars worldwide, there has been an increasing demand for gift packaging items, which has fuelled Industry growth. Further, the increasing consumer inclination towards the usage of environmentally friendly gift packing materials, such as biodegradable papers and boxes made from solid waste, has resulted in the growth of this Industry.
For instance, we can gift wrap a particular product using a paper pyramid gift box or a layered cardboard gift box, which will not only look more attractive but is also not harmful to the environment.
On the basis of product type, this Industry is divided into ribbons, wrapping papers, containers, boxes, and others. Based on raw materials, the Industry is classified into paper & paperboard, plastic, glass, and others.
By packaging, the Industry is categorized into primary packaging, secondary packaging, and tertiary packaging. In terms of geography, the Industry is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
North America is anticipated to show rapid progress in the gift packaging Industry share on account of the increasing utilization of gift-wrapping papers during holiday celebrations, such as Christmas and Halloween, in this region. Further, the rising income of the people in this region has resulted in the growth of expenses for various gift packing items, which has propelled this Industry’s growth.
The Asia Pacific region is expected to hold a prominent position in this Industry owing to the proliferation of retail stores, which offer a wide variety of gift packaging items for sale. Further, the rising production of gifting paper in this region has led to a growing demand for paper-based gift packing solutions, which is anticipated to boost the Industry growth in this region.
The prominent companies in this Industry are focusing on producing different varieties of gift packaging items such as wrapping papers, cardboard boxes, and others to attract maximum customers. The aim is to enhance sales of these products, resulting in increasingly intense competition among the key companies intending to widen their presence in the Industry.
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