Extravagance Packaging Market Expects Biodegradable EcoFriendly GlobeNewswire public statement

“Delaware, March 09, 2017 (GLOBE NEWSWIRE) — The report u201cGlobal Luxury Packaging – Strategic Assessment and Forecast Till 2021u201d, available on MarketIntelReports, estimates that the market will exhibit a CAGR of 4.96% till 2021.
Browse numerous Market Tables as well as Figures which are spread through Pages and an in-depth TOC on the u201cLuxury Packaging Market 2016 – 2021u201d http://www.marketintelreports.com/report/1609-01/global-luxury-packaging–strategic-assessment-and-forecast-till-2021
Scope & Regional Forecast of the Luxury Packaging Market
Luxury brands view packaging materials as a vital component within their overall work-flow because they provide an identity and impart a certain brand value. Luxury packaging manufacturers are constantly on the lookout for strategic investments to improve their brand image. In their purest form, luxury packaging boxes are designed while always keeping the target audience in mind. Hence, luxury packaging companies end up producing a unique style of luxury gift boxes.
Meanwhile, high-end packaging considers factors like price, weight and unique style as the prime factors of concern. Packaging companies are gradually prioritizing sustainable development over everything else. This is reflected in the development of biodegradable and eco-friendly luxury box packaging. Thus, the Luxury Packaging Market has a tremendous scope for growth during the forecast period till 2021.
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According to predictions, the Luxury Packaging Market is expected to be valued at $23 Billion by 2021, with a CAGR of 4.96% during the same time period. Some of the exciting trends taking over the demand for packaging materials are: a need for personalization; rising public demand for sustainable packaging; and other demographic drivers. Luxury packaging has rapidly transformed into one of the most lucrative segments within the packaging industry.
The Luxury Packaging Market considers the surprisingly fast growth of the E-commerce business as the most vital driver of growth during the next few years. Product manufacturers are also aware of the significant effects of packaging as well as display on a customeru2019s mind. They are increasingly tapping these to factors to gain a competitive advantage over rivals. Another factor worrying luxury packaging companies are the constantly changing style trends. Keeping up with them is imperative as missing out means a significant drop in market share in a short period of time.
In 2015, the US held the highest revenue share within the Luxury Packaging Market with 21.5%. It was followed by China while Europe grabbed 36% of the consumption share in terms of all luxury goods which were consumed. Most of the latest style trends come out of Europe as the major luxury houses are all situated in the region.
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Prominent Segmentations Involved in the Luxury Packaging Market
The Luxury Packaging Market can be broken down into various segmentations on the basis of –
Material : Paper & Paperboard, Glass, Metal, Plastic, Wood and Others.
: Paper & Paperboard, Glass, Metal, Plastic, Wood and Others. End-Use : Cosmetics & Fragrances, Premium Alcoholic drinks, Gourmet Food & Beverages, Watches & Jewellery, Confectionery, Tobacco and Others.”

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