Gift Packaging Market - Forecasts from 2024 to 2029

The gift packaging market is estimated to grow at a CAGR of 4.86% during the forecast period.

The demand for gift-packaging items is driven by changing consumer attitudes toward party and celebratory events as well as increased disposable incomes among the worldwide populace. The expansion of e-commerce and the use of the internet worldwide draw customers to buy gifts, which eventually fuels market expansion. Additionally, the growing infrastructure associated with auditoriums, seminars, and corporate events is promoting party and celebration occasions, which ultimately boosts the need for gift-packaging goods. Furthermore, the growing popularity of holiday festivities like Diwali, Holi, and many others generate seasonal demand for gift-wrapping supplies. Moreover, rising birthday celebration patterns and rising consumer spending among individuals worldwide boost the need for gift-wrapping goods and propel the market's expansion.

Introduction:

Giving gifts is thought of as a means to convey happiness, thanks, and delight to the recipient. Consumers now give gifts on anniversaries, farewells, and other occasions in addition to birthdays and holidays. Gift wrapping adds aesthetic value to the goods, and as people give more gifts on more occasions, the market for gift packaging supplies is predicted to soar. Products that have been packaged as gifts make the recipient feel overwhelmed. The market for gift-wrapping goods will expand in the future as a result of population growth and changing customs around giving gifts on various occasions.

Drivers:

• Rise of e-commerce is fueling market expansion: The value of the current market has increased by two times over the last five years because of the growing popularity of e-commerce sales channels for items like packaging and gift wrapping through Amazon, Flip-kart, and many more.
• Increased gifting culture is a major factor propelling market growth: The need for gift wrapping is expected to increase as more people use the products for both personal and business gifts on occasion.
• Trend towards eco-friendly packaging is generating new market opportunities: Increasing customer preference for environmentally friendly packaging at reasonable pricing is one of the reasons expected to contribute to the market's spectacular growth in the years to come. To keep their customer base, manufacturers in the gift packaging sector are creating innovative products in line with market trends. For instance, they eliminated the need for plastic packaging by using cloth bags and paper bags to package gifts, making them more environmentally friendly.
• New simplistic designs are in trend positively impacting the market dynamics: The bright and boisterous designs are being replaced with simple and elegant ones. The contemporary fashion in the industry is to make gift wrapping straightforward. Consumers are becoming increasingly drawn to gift box forms with straightforward designs that highlight important qualities without being ostentatious. To appeal to customers in terms of presentational styles, producers are leveraging the trend toward minimally attractive gift box designs. This new pattern is probably going to help the market grow.
• Availability of customisation of the packaging solution is driving market growth: Consumer desire for personalised and tailored printing has significantly increased, having a substantial impact on the gift packaging business. To sustain long-term customer relationships, the majority of the players have broadened their product lines and are giving customers the freedom to select their prints. Customers now have access to unprecedented levels of flexibility, convenience, and design potential because of this power of choice. As a result, personalized and customized products in the gift-wrapping sector are probably going to positively influence the market growth.

Products offered by key companies:

• Gift Packaging, Smurfit Kappa: They provide a variety of enticing but protected packaging for gift, promotional, and high-end items. They provide a variety of paper-based materials and print methods that may be custom-made to meet specifications, allowing for the creation of creative structural designs with eye-catching images. They can also use textured, varnished, foil combination of materials.
• Gift Boxes, Ebro Color GmbH: For all types of gifts, Ebro Color's gift boxes provide an elegant, premium wrapping option. They boost your brand's recognition value by offering a variety of customization possibilities and top-notch craftsmanship. They are not only useful and appealing, but they also perform well as advertising spaces.

The prominent growth in the boxes sector under the product type segment

The boxes category dominated the market and is poised to capture a major market share over the forecast period. The growing popularity of eye-catching packaging designs among consumers and the soaring demand for customized gifts have been driving category expansion. Businesses are choosing boxes more carefully as a result of technological advancements in box material choices and exponential e-commerce growth. High-performing materials, cost-effectiveness, on-demand delivery methods, and other improvements are being made by manufacturers to their services. The materials used to make gift boxes are generally plastic, paperboard, aluminium, and tin. Due to the growing consumption of sweets, chocolate, toys, and wine worldwide, there is an increase in the demand for gift boxes. Moreover, food product vendors use gift boxes to package their goods because they make the food items look more appealing. Gift boxes are used to package a variety of goods in addition to food and drink, including toys, jewelry, electronics, sculptures, cosmetics, and personal care items.

The North American region is expected to hold a significant share of the gift packaging market:

The market for gift packaging in North America dominates the whole industry because of its considerable contribution. The long-standing American tradition of giving gifts to friends and family regularly, together with a growing customer preference for eye-catching packaging paper designs, are expected to be the main factors driving the sales of gift wrapping paper. This is anticipated to increase market demand for present gift wrapping. The greatest market share in North America is held by the United States. Due to the movement in consumer preferences toward lightweight package forms with premium features, flexible packaging types are projected to outsell their rigid counterparts. Thus, a good CAGR is expected to be observed in the gift packaging market during the projected period in the United States.

Key developments:

• Hotel Eclat Beijing is a modest luxury hotel renowned for its collection of museum-calibre artwork. The hotel launched a limited-edition mooncake gift box with Dreamy Rabbit's artistry in September 2023. Dreamy Rabbit was made by the Icelandic-Chinese artist Eirds Ragnarsdóttir. The painting honours the approaching Mid-Autumn Festival.
• Hallmark and Venmo announced their first-ever, groundbreaking partnership in August 2023 with the launch of Hallmark + Venmo Cards, which streamlines the gift-giving process. Customers may send money to friends and family in a secure way thanks to this invention. This transforms the experience of giving gifts by providing a special and convenient way to do it.

 

Segments

BY TYPE

• Primary
• Secondary
• Tertiary

BY PRODUCT TYPE

• Ribbons
• Container
• Boxes
• Wrapping Paper
• Others

BY MATERIAL

• Paper and Paperboard
• Plastic
• Glass
• Metals

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain  
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others