Luxury Rigid Boxes Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2030

The market for luxury rigid boxes is anticipated to reach US$ 5.4 billion by 2030, at a CAGR of 3.9 percent, from an estimated value of US$ 4.0 billion in 2022. According to the most recent Future Market Insights (FMI) analysis, demand for two piece box packaging is anticipated to reach US$ 1.2 billion in 2022, growing at a CAGR of 5.1 percent for 2022-2030.

During the forecast period, the luxury rigid box market in China is anticipated to expand at a CAGR of 5.6 percent. overcoming initial doubts about how the market might function in the event of a global epidemic. Luxury rigid box sales in the Asia Pacific region as a whole totaled US$ 1.7 billion.Furthermore, gradual shift from traditional packaging trend to smart and connected packaging trend has been observed in recent years.

Digital shopping platforms and e-commerce have drastically increased connectivity with the consumers and it has created a great exponential opportunity for the manufacturers in the luxury boxes market. The luxury boxes with Near Field Technology and RFID technology are expected to be next-gen intelligent packaging formats, as the demand for anti-counterfeiting and anti-theft prevention packaging solutions is increasing.

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Key Takeaways of Luxury rigid boxes Market Study

  • Consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030
  • Two piece boxes estimated to have an incremental opportunity of US$ 268 Mn by 2025
  • Paper and paperboard estimated to account for 68% of the global market by value, and reach slightly over US$ 3.6 Bn in 2030
  • Magnetic closure is estimated to gain by 180 bps of current market share during the forecast period
  • Foam inserts are estimated to have a significant market share by insert types, accounting for more than half of the market share by 2030
  • Asia Pacific is estimated to have an incremental opportunity of US$ 930 Mn by 2030 with the increasing demand for luxury boxes for confectionery product packaging

“Luxury rigid boxes are the elegant and sophisticated medium for presenting products. Additionally, these boxes promote impulse purchasing of the products. Demand for luxury rigid boxes among end users is consistently increasing to build and enhance positive brand image. In spite of declining phase of luxury rigid boxes market in 2020 due to COVID 2019, significant revenue generating opportunities are anticipated with explosive nature of e-commerce and digital shopping,” says and FMI analyst.

Players Aim at Mergers & Acquisitions to Expand Product Portfolio
As a part of growth strategy, companies are emphasizing on mergers & acquisitions of small or medium sized specialized companies in order to expand their product portfolio, market footprint, increasing brand value, strengthen supply chain network etc. Some of the deals in past years are as follows –

In January 2022, Metsä Board, the paperboard and packaging manufacturer, introduced new luxury box named SkinCare 2.0 gift box which uses fibre-based materials to replace plastic
In November 2021, Fresnels Inc, the company which provides packaging solutions, developed a new recycled folding carton features dynamic nanotechnology decorative elements to catch the eye and interact with customers in the retail beverages environment.
Catering to the growing sentiment of eco-friendly packaging to reduce the pressure on landfills and to ensure responsible packaging is expected to create worthwhile opportunities for the players.

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Impact of COVID-19 on Luxury Rigid Boxes Market
Manufacturers across the globe are facing several challenges in production of luxury rigid boxes due to COVID-19. This is primarily due to disrupted supply chain and trade related regulations. COVID-19 has had a negative impact on the economic activities and unfortunately, a quick recovery of the situations is possibly difficult. However, as global supply chains are disrupted, governments across various regions are considering stimulus packages to revamp the economy.

Owing to the declining economic condition, less demand for luxury packaging is estimated in 2022. Luxury rigid boxes market is largely dependent on sales of cosmetic, perfumes, and confectionery products packaging. A gradual shift from luxury product purchasing to essential product purchasing is witnessed in the mid of 2022. Therefore, as per FMI analysis, the luxury rigid boxes market is expected to decline till year end. However, the production activities are slowly resuming and expected to create growth opportunities for luxury rigid boxes in next decade.

Luxury rigid boxes Market Landscape
The global luxury rigid boxes market is fragmented and it is anticipated to witness tough competition among the manufacturers across several regions. This market consist of strong key players focusing on innovative product development. Besides this, new players are entering into the market owing to significant sales creation with the increasing demand for luxury boxes in cosmetics, food and beverages and personal care industries.

The key players of global luxury rigid boxes market are Robinson Plc, McLaren Packaging Ltd, DS Smith Packaging Limited, PakFactory, Madovar Packaging Inc., Burt Rigid Box, Inc., Holmen AB ADR (Iggesund Paperboard), Elegant Packaging, Elite Marking Systems, Design Packaging, Inc., Bigso Box Of Sweden, ACG | Ecopack (Finn Industries, Inc.):, JohnsByrne, Sunrise Packaging, Inc., Asia Korea Printing Inc., Bell Printers, Prime Line Packaging, Autajon, Npack ltd., Taylor Box Company, among others.

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