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As the line between luxury and mass-market items blurs, luxury firms are forced to use cutting-edge technologies and marketing techniques to draw consumers to their premium products. A prevalent trend in the packaged products business is premiumisation. Packaging is considered as a means of achieving this.
Brand owners want to draw customers by offering products positioned on a “everyday luxury” basis. For each distinct client, premiumization also entails personalization and customization. It is highly user- centric in nature and allows them to enjoy splendour in every way.
The size of the luxury packaging market is growing quickly. The market is primarily driven by elements like rising population, urbanisation, and strong demand for packaged foods. In addition, the development of new technologies contributes to the growth of the industry.
Luxury packaging market trends also extend the life of the items, which is another benefit. The aforementioned factors are anticipated to have a beneficial impact on the market’s growth in the years to come.
The India Luxury Packaging Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
In order to replace EVA and plastics, Knoll Prestige Packaging has introduced its patent-pending KnollLuxe premium board platform, a product made entirely of paper and board that is recyclable and FSC certified.
Additionally, Natural Hop Surface on gold paper, another product that is recyclable and from organic packaging expert Organoid. The luxury paper has a gold backing coated with real hops blossoms, with the design maintaining its organic aroma and feel. It is primarily intended for the premium beer packaging market.
