By the end of 2022, the market for gift boxes will have a value of US$ 1,897.2 Million. A CAGR of 6.2% has been predicted for the market over the forecast period of 2022 to 2032, with a predicted closing value of US$ 3,459.3 Million. The industry expanded at a value CAGR of 5.5% throughout the historical period of 2016–2021.
“The need for Gift Boxes is boosted by the growing popularity of the e-commerce sector in industrialised nations like the United States and Germany and the growing demand for the expansion of the gift box packaging industries.”
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Who Are The Key Players In The Global Gift Boxes Market?
Some major players in the Gift Boxes market are
- Qingdao Hongrui Industry Co. Ltd,
- Shenzhen Fuxiang Gifts & Packaging Co. Ltd,
- Bayley’s Boxes,
- Varanna Industries,
- Shanghai Xianrong Packing Co., Ltd.,
- Om Express Print Pack Private Limited,
- Valtenna Industria Cartotecnia, and
- Shenzhen Tianya Paper Products Co., Ltd.
The key development in the Gift Boxes market is as follows:
- Chameleon Like launched a custom packaging and gift box line in October 2019 with a wide selection of 200 stock styles of gift boxes to fulfill dropship services in Houston.
- CSS Industries, Inc., a manufacturer of seasonal and gift products, was acquired by IG Design Group PLC in 2020. This acquisition is likely to broaden the company’s product portfolio and establish its presence in the US craft market, as well as provide access to many new channels and markets.
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Gift Boxes – Market Dynamics
There are some factors which contribute to the growth of the gift box market, e-commerce is one of them. The increase in e-commerce market plays a significant role in the growth of the gift box packaging industries because they use gift boxes for the purpose of packaging the goods to provide the safe delivery of the product.
Gift boxes are no longer used only for the purpose of protecting the product from the damage, but it has some special quality such as durability, reusability and attractive look. Due to some better characteristic as compared to alternatives, gift box market is gaining popularity throughout the global market.
Few alternative options are available in the market for the gift packaging such as wrapper paper, bag etc. Over the past few years, e-commerce industry has emerged tremendously which has positively impacted the market for gift boxes. In addition to, paper or corrugated gift box is on trend due to the sustainability, and eco-friendly nature because they are easily recyclable and degradable.
Furthermore, the factors which are contributing towards the growth of gift boxes market is the rise in per capita income of consumers which has increased the investment of income on the gift. The logistics and transport market is expanding at a high pace and is emerging as an opportunity for future growth of the global box packaging market.
Why Is North America Emerging As An Opportunistic Gift Boxes Market?
The age-old American culture of personal gifting regularly, as well as rising customer inclination towards eye-catching packaging paper designs, are likely to drive sales of gift paper boxes. Because of the region’s greater consumption of gift-box papers for Christmas celebrations, North America is expected to hold a significant share of the global gift boxes market.
For instance, in 2017, Canadians spewed 540,100 tonnes of paper and gift boxes during the Christmas season. Besides this, the region’s high population spending on decorative objects contributes to greater consumption of gift boxes, papers, and other packaging accessories.
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Key Segments Covered In The Gift Boxes Industry Survey
Gift Boxes Market by Raw Material:
- Plastic Gift Boxes
- Paper Gift Boxes
- Other Raw Material Gift Boxes
Gift Boxes Market by End Use:
- Gift Boxes for Consumer Goods
- Gift Boxes for Food and Beverages
- Bakery & Confectionary
- Alcoholic Drinks
- Frozen Desserts
- Gift Boxes for Electronic Devices
- Gift Boxes for Cosmetics and Personal Care Products
Gift Boxes Market by Product Type:
- Slide Sleeve Gift Boxes
- Telescopic Gift Boxes
Gift Boxes Market by Printing Technology:
- Lithography Printed Gift Boxes
- Flexography Printed Gift Boxes
- Electrophotography Technology Printed Gift Boxes
- Dry Toner Printed Gift Boxes
- Liquid Toner Printed Gift Boxes
- Inkjet Photography Technology Printed Gift Boxes
- Other Printed Gift Boxes