GLOBAL LUXURY PACKAGING MARKET
Luxury packaging is special packaging. It is the design and manufacturing of packaging for a luxury product. Where the package is an integral part of the product, it reflects and becomes part of the brand. It is as important to the product.
It displays and presents the product using specialty printing effects such as rigid construction, magnetic closures, foam, or cloth interiors to hold the product. It implies much care is taken to present this product. It adds value to the product.
One of the biggest differentiators between standard and luxury packaging is the degree of interaction required. High-end products take consumers on a journey of discovery. In the retail industry, this is known as delayed gratification. It triggers a process of user discovery by placing products at the end of an unveiling. This involves packaging based upon tissue papers, box toppers, pull tabs, ribbon closures, and padded inserts.
When it comes to overall satisfaction of a product, consumers place packaging almost as important as the branding itself. When the purchase Is made for an expensive item, it would come integrated in a package that excites and entices the consumer / customers. Luxury packaging adds value, reinforces the brand, and builds customer loyalty.
A number of premium brands, particularly within the Scotch whisky sector such as Glenfiddich, Glengoyne, Gordon & MacPhail, now offer personalized labels, mainly for gifting purposes with individual messages. In this sector, personalized gift packaging is usually in the form of gift boxes or bags, although some companies have started to customize secondary packaging, such as tissue paper and ribbons.
LUXURY PACKAGING MARKET DYNAMICS
Luxury packaging as a part of the product; have the value in line with the inner product. findings suggest that some features such as Refined aesthetic value , classic Luxury essence, anticipation moment, multi-sensory experiences, limited edition, and symbolism, although runs, but gender approach -according to Iranian culture of handicrafts should deal with wariness.
As luxury brands and retailers continue to experience solid growth, discount retailers are riding their coattails with an increased focus on luxury items These trends are leading to increased spending on premium packaging as brands seek to set themselves apart from the competition. And with lower-cost, copycat products on the rise, brand holders are increasingly using holographs and other secure packaging measures embedded in the paper/board for secondary packaging to authenticate their product.
In addition, greater emphasis on design and innovation is expected to help premium paper providers buck the trend toward product digitization. Premium paper and paperboard companies that focus on short- to medium-run lengths are likely to outperform longer run, more commoditized paper suppliers.
A continuation of the current favourable market conditions, fuelled by ongoing demand for specialized products and services, could generate outsized returns for those properly invested in the premium paper segment in the years ahead.
Customers are looking for products with packages that are easy to open, maintain their own freshness and are easily portable. Not only do these qualities portray functionality, but also a promise of a quality and luxury brand. sensory qualities of a package can portray luxury. The sounds that products make can be memorable of a brand and satisfying to the consumer. In addition, consumers respond to the right touch and textures by perceiving luxury and creating a connection.
LUXURY PACKAGING MARKET SEGMENTATION
The Global Luxury Packaging market can be segmented into following categories for further analysis.
By Packaging Product
- Plastic Production Based
- Paper Production Based
- Corrugated Board Based
- Reinforced material based
- Composite material Based
- Other Materials
By In Product Usage Type
- Foods and Beverages
- High Value Objects / items
- FMCG Products
- Electronic Products
- Fashion Products
- Low Value Software Products
- Hardware Products
- Electrical and Hazardous Products
- Mechanical Products
By E Commerce Categorisation Type
- Large Scale Packaging Provisioners
- Small Scale Packaging Provisioners
- Omni Business Packaging Provisioners
- Medium Scale Packaging Provisioners
By Regional Classification
- Asia Pacific Region – APAC
- Middle East and Gulf Region
- Africa Region
- North America Region
- Europe Region
- Latin America and Caribbean Region
RECENT TECHNOLOGICAL TRENDS IN LUXURY PACKAGING MARKET
The introduction of new technologies and innovations will be the key factors in market growth. Brands are striving to provide product differentiation at the point of purchase. Innovative new designs, package shapes and decorative techniques can therefore be created as added value features. As a result, materials and technologies will drive demand for luxury packaging and enable companies offering these services to succeed.
Developments such as the Diageo and Thin Film Electronics smart bottle printed sensor from 2015, to detect both the sealed and unsealed state of a Johnnie Walker Blue Label bottle through the use of smartphones, is a great example of utilizing leading-edge technology in the luxury packaging sector.
Johnnie Walker Blue Label bottle uses extremely thin, electronic sensors which
Customized added value packaging materials will also enhance a product`s desirability, Farmer explains. He highlights that technologies such as 3D printing will enable manufacturers to transform designs into products within a short period of time. The continuing rise of digital print technology will enable luxury brands to broaden their ranges and customize their product offerings with greater ranges of limited editions and personalized products.
Luxury packaging is not exempt from the sustainability challenges facing the wider packaging industry. There is a global demand for luxury packaging which is sustainable as well as being personalized and highly attractive. Consumer goods companies ultimately want 100 percent of their packaging recyclable or reusable, by as early as 2025 in some cases. This has been the recent technological advancements by the various stakeholder organizations within the Global Luxury packaging market.
Sensory enhancements on packaging appeal to premium-seeking buyers. For example, photochromic ink printed on flexible packaging, differentiating technology from Printpack, engages consumers by exposing invisible graphics when the package is in sunlight. Functionality plays an important role in representing the brand and providing a premium experience for consumers.
In the recent years, there has been an extensive competition being noticed in the research and development of the required packaging improvisation to comply with the environmental standards and basic SOP of Packaging the commodity as required by categorizations.
Venttri has brought upon the new product developments to have better integration of luxury packaging possibilities in the Global Luxury packaging market wherein the presentation products are made with an eco-look that start with natural base material. The core of most Venttri products is recyclable Gray board or cardboard. This provides the necessary firmness and is suitable for gluing / backing / laminating.
Bell Printers is a disruptive innovator in the Indian packaging landscape. Thriving for three decades they specialize in Luxury Packaging projects. The organization works on the product of large luxury-based gifting boxes for corporate requirements wherein the Glossy/matt lamination, protective varnish, UV coating, Gold/silver hot stamping is used as a surface disposal. The Organization has also been integrated within the ISO 9001 QMS Control requirements at all times in their production of the quality product.
- Bell Printers
- Venttri Packaging
- Model Group – Packaging
- Cedar Packaging
- Lux Packing
- Unbox Pune
- MW Luxury Packaging
- Maisha Pack
- Cat Alpha Packaging
- HH Deluxe Packaging
- Winter and Company
- Lucas Luxury Goods Packaging