Gift Packaging Market underwent a sea-change with rolling out of corporate and personal gifts. New innovations in food packing and non-food items with artificial jewelries, soft toys and artworks caught the attention. A multitude of product categories including cookies, fruit baskets and wine hampers and different types of cheese gifted on occasions of birthdays and festivals have come under trending gifts with customers lifestyle and deep pockets under consideration for driving change in the gift packaging market.
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The key driving factors responsible for the growth of Gift Packaging
market :
Wrapping paper including lunch bags,
decorative gift bags and decorative shopping bags have come under lens for gift
wrapping and alternatively decorative handkerchiefs touted as the nearest handy
accessory to hit the market and propel growth for gift packaging market. The
potent drivers to the market include e-tailers who have bridged the gap between
erstwhile manufacturers and customers to satisfy demand thus enhancing gift
packaging market.
Food gifting has transformed from
conventional standards to contemporary sweets with attractive packaging and
boosting gift packaging market. Furthermore, rise in disposable incomes has let
one spend beyond his standards in acquiring gifts thus enhancing the gift
packaging market. Personal gifting on holidays has given rise to ostentatious
show of wealth with gifting to one and all matching one’s standard and
lifestyle. This augurs well for the gift packaging market.
Segmentation by packaging type
comprises primary packaging, secondary packaging and tertiary packaging. On the
basis of product type, segmentation goes as gift boxes containers, ribbons and
bows, gift sacks, gift bags, wrapping paper, tissue paper and shreds, cell
phone overwrap and bags, gift card and money holders and others.
By materials, global gift
packaging market includes plastics, paper and paperboard, metals, glass and
others. By geography, gift packaging market is segmented into North America,
Europe, Asia Pacific, MEA and Latin America. Corrugated packaging has risen by
leaps and bounds in UK and by far is the most widespread mode of packaging in
the industry.
Asia Pacific leads market with
rise in GDP and increasing disposable incomes with an increased consumer base
and India and China portray countries with gregarious markets and having
exposure to maximum spending. As per news article dated August 2016, gift
packaging market in US is leading with gifting of candies and chocolates with
elaborate packaging and gifts being doled out to far-flung relatives and online
retailers have faster transactions with free delivery and shipment. Key
industry players include Smurfit kappa group, Packlyn Ltd, Shenzen Fuxiang
gifts & packaging gifts, Interpak, Ebro Color GmbH.
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