The global gift packaging market value is estimated to clock a revenue of USD 37.4 billion by 2033. The gift packaging demand is expected to register a CAGR of 4.3% through 2033, with a present valuation of USD 25.3 billion in 2023.
Key Trends in the Gift Packaging Market
| Attribute | Details |
|---|---|
| Gift Packaging Market Size, 2023 | USD 25.3 billion |
| Gift Packaging Market Size, 2033 | USD 37.4 billion |
| Value-based CAGR (2023 to 2033) | 4.3% |
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Sales of gift packaging solutions are predicted to increase over the forecast period, influenced by their increased acceptability in different situations. Manufacturers are focusing on helping businesses enhance their offerings on the shelf by offering minimalist designs and innovative presentation styles. The surging purchasing power of individuals, along with the shifting trend toward gifting on occasions like farewell parties, birthdays, and anniversaries, are adding to product sales.
| Attributes | Details |
|---|---|
| Gift Packaging Market Size (2018) | USD 20.36 billion |
| Gift Packaging Market Size (2022) | USD 24.1 billion |
| Gift Packaging Market (CAGR 2023 to 2033) | 4.3% |
Over the forecast period, the surge in the corporate gifting culture is expected to become prevalent as firms opt to promote themselves and create business relationships. The increasing popularity of corrugated gift boxes, due to their diverse beneficial properties like resistance, reusability, aesthetic appeal, and much more, is predicted to stimulate market growth.
| Country | Market Share in 2023 |
|---|---|
| China | 12.2% |
| India | 8.5% |
| Japan | 3.6% |
| South Korea | 3.4% |
| Thailand | 1.3% |
The gifting culture in the Asia Pacific is especially elaborate during special occasions. Organizations, corporations, and families partake in gifting activities during celebrations, festivals, and different events. A look at the regional market depicts a greater contribution of China and India, which account for leading market shares.
The increase in plastic pollution in Asian countries has led to the popularity of paper boxes. The surge in gift-giving occasions in Asian countries is strengthening the gift packaging market growth. After witnessing huge success in developing countries like China and India, gift packaging merchants are vying for larger shares in countries like Japan, South Korea, and Thailand.
Consumers in China with high purchasing power seek elegant gift box options for gifting purposes. Merchants in China are attracting businesses by offering unique products and services that enhance the overall experience of their customers. Additionally, consumers like to post products with distinct packaging on social media to share their experiences. This is expected to accelerate the trend of themed gift packaging.
China accounts for a major share of global revenue from e-commerce. Consequently, this country is expected to be a prominent market for e-commerce business in the years ahead. High prospects for e-commerce business are expected to be favorable for gift packaging merchants.
As per the latest market estimates, Japan is predicted to enjoy a 3.6% share of the global market. The country is widely known for its obsession with packaging and its popular gift-wrapping techniques. The easy availability of wrapping papers in department stores in Japan is adding to the increasing sales of gift packaging solutions.
Key players are capitalizing on the craze of consumers in Japan for gift wrapping, by introducing their favorite animations as a gift packaging choice for special occasions.
The South Korean market for gift packaging is expected to obtain a market share of 3.4% in 2023. Leading providers of gift packaging solutions are focusing on gaining profits from the intensifying demand for modern as well as traditional wrapping papers in the country. Suppliers are offering businesses customized and personalized packaging solutions for gifts. Vendors provide professional services for different gift boxes, paper bags, hang tags, jewelry boxes, and other paper products for creative packing solutions for brands.
| Country | Market Share in 2023 |
|---|---|
| United States | 14.3% |
| Canada | 1.5% |
The North America market relishes a broader market share in the global gift packaging market, thanks to enthusiastic celebrations and holiday gifting during Christmas time, and other occasions. The United States leads the regional market composition, with Canada following behind. Globally, the United States share accounts for 14.3%, demonstrating its greater influence in the global turnover generated from the gift packaging market.
Consumption of packaging supplies in Canada is surging at an increased pace. A chief driver for this trend is a surge in the migrating population, coming to the country for education, employment opportunities, etc. The increasing population, in tandem with their inflated disposable incomes, is contributing to the sales of gift packaging solutions. Canada is expected to occupy a 1.5% share of the global market.
Soaring demand for diverse gifting accessories like containers, ribbons & bows, gift sacks, and gift bags, etc. is catalyzing the market growth in Canada. Apart from this, leading vendors are strengthening their distribution networks to yield increased accessibility and sales from their products. The widespread establishment of small business entities in the country is increasing opportunities for gift packaging suppliers.
| Country | Market Share in 2023 |
|---|---|
| Germany | 4.2% |
| United Kingdom | 3% |
| Italy | 2.6% |
| France | 1.7% |
| Spain | 1.6% |
The Europe gift packaging market is filled with strong contenders for gift packaging solutions. To differentiate their offerings, competitors are offering eco-friendly gift packaging solutions. This strategy chiefly captures the wide environment-conscious population in Europe. Key players are offering custom-made gift bags and other products, available in different sizes and materials, for a more personalized experience. In the future, top vendors are projected to strive for packaging innovations to sustain consumers' intrigue in gift packaging.
Germany and the United Kingdom enjoy a substantial market share. Going forward, key players are predicted to enter or expand their reach in less penetrated countries like Spain, Italy, France, etc.
Germany is anticipated to account for 4.2% market share in 2023. Market leaders of gift packaging in Germany are considered trendsetters in terms of design and material implementation. Key players are offering a wide selection of solutions that promise high-quality gift packaging solutions. Gift packaging providers offer custom gift boxes and other solutions to assist businesses in providing gifts with a custom design.
Principal Consultant
| Top Product Type | Gift Boxes |
|---|---|
| Market Share in 2023 | 21.3% |
The gift boxes segment is anticipated to gain a market share of 21.3% in 2023. Surging demand for personalized gifting and rising consumer liking for eye-catching packaging designs have been pushing segment growth. Technological innovations in box material options, plus rampant e-commerce growth, are propelling businesses to opt for boxes more cautiously. Manufacturers are improving their services by offering high-performing materials, cost-effectiveness, on-demand delivery systems, etc.
Gift boxes are typically composed of plastic, paperboard, aluminum, and tin. The demand for gift boxes is rising on account of the increasing consumption of food and beverages, including sweets, chocolate, toys, and wine across the globe. Sellers of food products deploy gift boxes for packaging as it enhances the appeal of the food item. Apart from food and beverages, gift boxes are used to package toys, cosmetic products, sculptures, personal care products, jewelry, electronic devices, and other items.
| Top Material Type | Paper and Paperboard |
|---|---|
| Market Share in 2023 | 43% |
Paper and paperboard are predicted to settle at a significant market share of 43%. These materials find extensive use in packaging food and drinks, due to high returns available on investment. The introduction of bans on single-use plastics and other materials has pushed the sales of eco-friendly gift packaging solutions like paper and paperboard.
The concept of environmental conservation is bearing positive results with the use of recycled paper and paperboard. Paper packaging is gaining widespread popularity owing to its durability and attractive packaging. Apart from surging demand for cards, the flourishing market of bouquets is also spurring gift packaging market growth.
The gift packaging industry is quite fragmented and has fierce competition. The market is filled with domestic as well as regional contenders. Some typical market expansion strategies include expansions, M&A, partnerships, and collaborations. Apart from this, top players are developing new products as a strategic approach to elevate their market presence. Strategies like these are predicted to boost the level of competition and the product portfolio.
Recent Developments in the Gift Packaging Market
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The gift packaging market revenue is USD 25.3 billion in 2023.
The market is expected to expand at a CAGR of 4.3% through 2033.
The gift packaging market is predicted to account for USD 37.4 billion by 2033.
The United States is projected to grab a maximum market share.
Paper and paperboard are highly preferred for packaging, accounting for 43% of the global market share.
Hallmark Cards, Packlane, and Smurfit Kappa Group are the key competitors in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 5.1. Primary 5.2. Secondary 5.3. Tertiary 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Gift Boxes 6.2. Containers 6.3. Ribbon & Bows 6.4. Gift Sacks 6.5. Gift Bags 6.6. Wrapping Paper 6.7. Tissue Paper & Shreds 6.8. Cellophane Over Wrap & Bags 6.9. Gift Cards & Money Holders 6.10. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Hallmark Cards 17.2. Packlane 17.3. Smurfit Kappa Group 17.4. Ebro Colour GmbH 17.5. Interpack 17.6. Card Factory 17.7. DS Smith plc 17.8. IG Design Group plc 17.9. Karl Knauer KG 17.10. Mondi plc 17.11. Manjushree Technopack Limited 17.12. Qwikcilver Solutions 17.13. Diageo 18. Assumptions & Acronyms Used 19. Research Methodology
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