The luxury packaging market size was valued at USD 17.98 billion in 2023 and is expected to be worth USD 18.79 billion in 2024. The market is projected to reach USD 28.23 billion by 2032, recording a CAGR of 5.22% during the forecast period.

Luxury packaging is a state-of-the-art style of packaging that increases the overall visual appeal of a product and also helps companies improve their brand image. Several market players have started using digital technologies to improve the overall visual appeal of the packaging materials. A robust rise in the number of customers opting for online shopping is one of the key factors accelerating the market’s growth.

Fortune Business Insights™ displays this information in a report titled, "Luxury Packaging Market, 2024-2032."

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Segmentation Analysis:

Why is Paper & Paperboard the Most Preferred Material in Luxury Packaging?

The market is segmented into paper & paperboard, metal, glass, plastic, and others.

• Paper & paperboard hold the largest share due to their high recyclability and sustainability.
• They are widely chosen by brands focusing on eco-friendly packaging initiatives.
• This segment aligns with growing consumer demand for sustainable and biodegradable materials.

Why Are Boxes & Cartons Dominating the Product Type Segment?

The market is segmented into boxes & cartons, bottles, bags & pouches, cans & jars, and others.

• Boxes & cartons lead the market as they are easily customizable in shape, size, and design.
• They help brands create distinctive packaging that improves brand identity and visibility.
• They are also ideal for premium and fragile products, supporting safe transportation.

Which End-use Segment Accounts for the Largest Share?

The market is segmented into food & beverages, fashion accessories & apparel, beauty & fragrance, consumer goods, and others.

• Food & beverages dominate the market, driven by the rising consumption of gourmet foods and beverages such as fine wine, coffee, tea, and baked goods.
• Growing premiumization trends in the F&B sector further fuel demand for luxury packaging solutions.