London, 04 March 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Luxury Packaging Market 2015-2019, which is expected to grow at a CAGR of 4.82 percent during the period of 2014-2019.
Many vendors are establishing manufacturing plants in emerging markets, where production costs are low and efficiency levels are high. Plastic is emerging as the most favored material for luxury packaging as it provides flexibility and is versatile.
“Developed and mature markets such as the US, Japan, and Western Europe have high levels of demand for high-end packaging, especially for premium consumer products such as cosmetics and household items,” says Faisal Ghaus, Vice President of TechNavio.
“Vendors use expensive ingredients, technologies, colors, and other raw materials to develop high-end packaging solutions.”
Key Market Drivers
- Increased Demand for Aesthetic Appeal
- Rise in Disposable Income
- Growing Demand for Flexible Packaging
- Increased Importance of Packaging
Key Market Trends
- Focus on Sustainable Development
- Increased Demand for High-end Packaging
- Advances in Technology
- Emergence of Biodegradable Plastic Packaging
Key Market Vendors
- Amcor Ltd.
- Crown Holdings Inc.
- International Paper Co.
- MeadWestvaco Corp.
- Owens-Illinois Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
