Over the last decade, gift packing underwent a sea-change with the rolling out of corporate and personal gifts. Innovations in food packing and non-food items with artificial jewelry, soft toys, and artworks caught my 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' lifestyles and deep pockets under consideration for driving change in the gift packaging market.
Wrapping paper including lunch bags, decorative gift bags, and decorative shopping bags have come under the lens for gift wrapping and alternatively, decorative handkerchiefs are touted as the nearest handy accessory to hit the market and propel growth for the 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 the gift packaging market.
Food gifting has transformed from conventional standards to contemporary sweets with attractive packaging and boosting the gift packaging market. Furthermore, the 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 an 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. Based on 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, the global gift packaging market includes plastics, paper and paperboard, metals, glass, and others. By geography, the gift packaging market is segmented into North America, Europe, Asia Pacific, MEA, and Latin America. Corrugated packaging has risen by leaps and bounds in the UK and by far is the most widespread mode of packaging in the industry.
Asia Pacific leads the market with a 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 a news article dated August 2016, the gift packaging market in the US is leading with the 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.
Research Support Specialist, USA
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