Gift packaging refers to the packaging of gifts such as chocolates, flowers, apparels, accessories, etc. which is primarily focused on attracting customers. It aims to enhance the experience of gift-giving by providing premium and visually appealing packaging solutions. The gift packaging market has witnessed significant growth in recent years due to the growing popularity of gifting culture on occasions like birthdays, anniversaries, festivals, etc. Gift packaging helps businesses to display and deliver their gifts effectively while catching the attention of customers.
The Global Gift Packaging Market is estimated to be valued at USD 25.4 Bn in 2024 and is expected to reach USD 38.9 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Key Takeaways
Key players operating in the Gift Packaging are Hallmark Cards Inc., Card Factory, IG Design Group plc, Mondi Group, and Fiorini International.
There is high growth potential in developing economies owing to increasing disposable incomes and evolving gifting culture. E-commerce platforms are further driving the adoption of innovative gift packaging solutions.
Gift Packaging Market major players are focusing on geographical expansion strategies and acquisitions to consolidate their presence across regions. For instance, in 2021, Hallmark acquired the German greeting card company Schurman Retail Group to expand its footprint in Europe.
Market drivers
Increasing popularity of gift cards and personalized gifts has boosted the demand for attractive packaging that highlights the branding of companies. Rising middle-class populations with higher spending power on luxury and premium products also contributes to the growth of the gift packaging market.
Shoppers perceive well-packaged gifts as having a higher perceived value, thus driving greater sales for brands. Manufacturers are investing in advanced packaging technologies to enhance visual appeal, convenience, and sustainability of gift packaging solutions.
PEST Analysis
Political: The gift packaging market is influenced by government regulations and guidelines related to packaging materials, production process, and recyclability. Strict packaging laws can impact manufacturer's operations and product offerings.
Economic: Macroeconomic factors such as disposable income, GDP, and consumer spending influence the demand for gifts and premium packaging. Higher discretionary spending augments the market growth.
Social: Changes in consumer lifestyles and preferences translate into evolving social trends in gift-giving occasions and expectations regarding packaging design, quality, and uniqueness.
Technological: Advanced digital printing, automated production processes, and smart materials enable innovation in packaging designs, formats and personalized features. Robotics and AI are being leveraged to enhance operational efficiency.
Geographical regions with concentrated market share
North America and Western Europe account for over 60% of the global gift packaging market value owing to high per capita expenditures on gifts, greeting cards and premium experiences. Developed economies in these regions have sophisticated retail infrastructures that promote gift retail all through the year and not just confined to festivals and occasions.
Fastest growing regional market
The Asia Pacific region is expected to witness the fastest growth during the forecast period led by China, India and other Southeast Asian countries. Rapid urbanization, increasing disposable incomes, nuclearization of families and celebration of international occasions are some key factors driving more gifting in the region. Further, growing domestic manufacturing capabilities are facilitating availability of innovative and affordable packaging solutions.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
