Gift boxes are in high demand because people eat and drink things like chocolate, ice cream, sweets, wine, and toys worldwide. When food is available in gift boxes, it looks shinier and more appealing.
Gift boxes can also package things like jewelry, electronics, toys, sculptures, personal care products, cosmetics, and other goods. The most common materials used to make gift boxes are paperboard, plastic, tin, and aluminum.
By the end of 2022, the market for gift boxes worldwide is expected to be worth US$ 1,897.2 Million. From 2022 to 2032, the market is hence expected to grow at a CAGR of 6.2%, and it is expected to be worth US$ 3,459.3 Million at the end of that time. From 2016 to 2021, the industry grew at a value CAGR of 5.5%.
What are the things that are driving the global market for gift boxes?
E-commerce is one of the things that affect how fast the market for gift boxes grows. The growth of e-commerce has a big effect on the personalized gift boxes packaging industry since gift boxes are accessible to package goods to ensure they get to their destination safely.
Gift boxes are no longer just used to keep things from getting damaged. They also have some unique qualities, like being strong, reusable, and looking nice. The gift box market is growing in popularity worldwide because it has advantages over other markets.
There are many different ways to wrap gifts on the market, such as paper, bags, etc. E-commerce has grown significantly in recent years, benefiting the gift box market.
Also, paper or corrugated gift boxes are popular because they are long lasting and good for the environment. After all, they are easy to recycle and break down.
Why is North America becoming a good market for gift boxes?
Gift-giving is a long-standing American tradition, and people are becoming more interested in eye-catching gift boxes packaging paper designs. This is likely to drive sales of gift paper boxes.
North America is expected to have a big share of the market for gift boxes worldwide. This is because the region uses more gift-box papers for Christmas than other places.
For example, during Christmas 2017, Canadians threw away 540,100 tonnes of paper and gift boxes. Aside from this, the fact that people in the area spend a lot on decorations also means they use more gift boxes, papers, and other gift box packaging supplies.
Plastic cannot be used in many industries in many countries, including the United States. This is another reason why paper boxes are becoming more and more popular. The United States hence made up most of the world’s sales because there were more gift-giving occasions.
Because they have a lot of money, consumers prefer to buy expensive gift boxes with elegant designs that make the gift look even better. This is expected to help the industry grow in this region over the next few years.
The world market is very divided, with most big players in developed countries like the United States. Franchising and retailing are the two main trends that can be seen in the market. In 2022, North America will make up about 23% of the gift boxes market.
Why are people in Europe buying more and more gift boxes?
Brands have always tried out new gifting ideas for different occasions and events in Europe, which has helped the market growth in Europe. In just a few short years, Europeans have moved away from giving material gifts and toward giving experiences.
In 2004, only a few Wonderboxes were sold. Now, the company makes 220.5 million euros a year. Early in the 21st century, companies that sold custom gift boxes popped up everywhere, hoping to cash in on a new trend in Europe.
With the rapid growth of e-commerce and technological improvements in box materials, most businesses have to change how they choose the best solution. Performance, cost implications caused by improvements in materials, packaging needs, delivery systems that create packaging on demand, and sustainability are the main things that drive the European gift box market.
Germany is the biggest market in the area because it is the leader in the gift box business. But Eastern Europe is expected to grow faster because these box-making techniques are being used increasingly in many industries.
Future Market Insights says that Europe will have a 29% share of the gift box market in 2022 and will continue to be the market leader in the future.
Competitive Landscape of the Top Companies in the Gift Boxes Market
This list includes profiles of the key manufacturers listed below. It also gives a business overview, key strategies, and a financial analysis of the key players, new product launches, expansion, mergers and acquisitions, partnerships, agreements, joint ventures, and the like.
The strategy used to deal with the effects of COVID-19 will be discussed in the report’s scope. Player roles Financials include revenue (in US dollars), gross margin (in percent), and market share (in percent) from 2017 to 2021, as well as a SWOT analysis. (To find out more, ask for the sample pages.) Or talk directly to the analyst or author).
The top companies that sell printed gift boxes are:
- Qingdao Hongrui Industry Co. Ltd
- Shenzhen Fuxiang Gifts & Packaging Co. Ltd
- Bayley’s Boxes (in no particular order)
- Varenna Industries
- Shanghai Xianrong Packing Co
- Om Express Print Pack Private Limited
- Valtenna Industria Cartotecnia
- Shenzhen Tianya Paper Products Co
To conclude, in the report, the size of the Gift Boxes wholesale market and its growth rate has been given. The report includes data from the past from 2017 to 2022.
It also gives predictions for the future from 2022 to 2029. This will help you understand how the market has done in the past and how it will do in the coming years in terms of global market share, regional market share, and country-level market share.
In the same way, the historical and forecast analysis of the global Gift Boxes market includes sales and revenue data. The report also includes the size of the markets in the UK, Europe, North America, Asia-Pacific, the Middle East, and Africa.
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