The gift packaging market is anticipated to grow at a CAGR of 4.86% from US$22.345 billion in 2022 to US$31.148 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 20, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the gift packaging market is projected to grow at a CAGR of 4.86% between 2022 and 2029 to reach US$31.148 billion by 2029.

Gift packaging is more of an art form that involves wrapping a gift in beautiful papers, ribbons, or other materials used to spice up and make the presentation look great. It may also include the employment of gift boxes or bags in place of the regular wrapping paper or gift wrap. Incorporating a bow into a wrapped or boxed gift may be an appropriate final touch for a more appealing gift. Gift packaging may spark an emotion of excitement and anticipation in the recipient and make him feel extraordinary in some way. It can be a perfect way of making the gift to be more appealing and also a great show of uniqueness.

Gift Boxes, which is one of the most common types of packaging are usually selected for family events and corporate gift exchanges. Often these bags are made up of a paper or plastic wrapper with padding and a lid. For one, a gift box stops the content from being damaged while still showcasing them in a more elegant appearance.

The growing demand for gift-giving culture is the primary driving force behind gift packaging market growth. The presentation of gifts is still among the basic elements of social belonging and enjoying the festivities globally. Examples are birthdays, holidays, weddings, and more which increase the demand for gorgeous and celebratory packaging options. For instance, according to a Postal.io published article in 2023, it states the United States remains the largest gift card market for the holiday, where 48% of buyers plan to purchase gift cards, which pushed clothing to second place as the most popular gift item.

Gift packing is not just about using packing materials and ribbons to decorate gift. It involves a multi-level presentation of a gift that comprises the packaging material like boxes, bags, tissue paper, and decorative parts. This kind of packaging adds visual attraction to the gift-giving, which in turn enhances the recipient's experience and makes the gift something more to remember.

Numerous product launches and collaborations are taking place in the market thereby, increasing the gift packaging market growth.

• In January 2024: Lady M launched a gift collection of their most popular flavors. The exclusive gift box which features a pop-up design, showcasing rotating plum blossoms symbolizing growth and progress. In order to make the perfect gift set, every gift is packaged with a greeting card and a customized gift bag.

• In January 2024: The Flock Box which is an ecologically friendly packaging design that is plastics-free and depicts a diversity of uses like make-up, jewelleries, and electronics items. It is perfect for luxury brands, which are sought after for their luxury unopening, making it perfect for them to display their products in an elegant way. The Flock Box developed jointly by Holmen Iggesund, Krekelberg, Inmaco Solutions, and Van de Velde Packaging Group is an opportunity for brands in the packaging sector to merge efforts towards healthy and sustainable choices in the future.

Access sample report or view details:https://www.knowledge-sourcing.com/report/gift-packaging-market

The gift packaging market, based on type is segmented into three categories namely primary, secondary, and tertiary. Secondary is expected to account for the major share of the gift packaging market. The secondary packaging is preferred as the secondary type increases the level of aesthetic appeal with various materials like ribbons and wrapping paper.

The gift packaging market, based on product type is segmented into five categories namely ribbons, containers, boxes, wrapping paper, and others. Wrapping paper is expected to account for the major share of the gift packaging market. Besides being beautiful, wrapping paper allows you to personalize a gift. It is an economical way to make a presentable package.

The gift packaging market, based on material is segmented into four categories namely paper and paperboard, plastic, glass, and metals. Paper and paperboard is expected to account for the major share of the gift packaging market. Paper and paperboard are gradually replacing cellulose materials. They can serve as an environmentally friendly packaging alternative, they offer an immense adaptability for tote and gift bags, and they enable unique customized options for a personalized touch.

Based on geography, the gift packaging market is expanding significantly in the North American region due to various reasons. In countries like the United States, Canada, and Mexico there is a growing demand for gift packaging in various industries, including retail, fashion, e-commerce, and beauty and cosmetics. The demand is being propelled by these nations is due to a strong gift culture, increasing disposable income, and prosperous e-commerce. These various factors shape the case for creative packaging options to bolster the gift-giving experience and lay a strong foundation for lasting memories.

The research includes several key players from the gift packaging market, such as IG Design Group PLC, Mondi, Hallmark Licensing, LLC, Card Factory, Karl Knauer KG, DS Smith, Ebro Color GmbH, Smurfit Kappa, Interpak, and Yama Ribbon & Bows Co. Ltd.

The market analytics report segments the gift packaging market as follows:

• BY TYPE

o Primary
o Secondary
o Tertiary

• BY PRODUCT TYPE

o Ribbons
o Container
o Boxes
o Wrapping Paper
o Others

• BY MATERIAL

o Paper and Paperboard
o Plastic
o Glass
o Metals

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• IG Design Group PLC
• Mondi
• Hallmark Licensing, LLC
• Card Factory
• Karl Knauer KG
• DS Smith
• Ebro Color GmbH
• Smurfit Kappa
• Interpak
• Yama Ribbon & Bows Co. Ltd.

Explore More Reports:

• Biodegradable Paper Packaging Market: https://www.knowledge-sourcing.com/report/biodegradable-paper-packaging-market

• Containerboard Market: https://www.knowledge-sourcing.com/report/containerboard-market

• Luxury Packaging Market: https://www.knowledge-sourcing.com/report/luxury-packaging-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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