LUXURY PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Market Restraints:

Packaging heavy and bulk products

Low adoption in packaging heavy and bulk products is expected to hinder the market growth. The packaging of heavy and bulk products involves a lot of cost constraint factors for manufacturers such as machinery cost, cost of the material, and high printing costs. There is just another reason why makers of luxury products are limiting their use of bulky, heavy packaging.

Market Opportunities:

Increasing launch of advanced packaging

Increasing launch of advanced packaging that restricts the transmission of COVID-19 is expected to provide lucrative growth opportunities to the market. For instance, in July 2020, Fedrigoni Group developed a virostatic paper that restricts COVID-19 transmission that can be applied from luxury packaging to protective face masks. Fedrigoni is a large paper manufacturer in Italy which owns paper mills in Verona, Arco di Trento, Riva Del Garda, Fabriano, and Pioraco.

Growing demand for paper & paperboard in luxury packaging

The growing demand for paper & paperboard in luxury packaging is again projected to bring profitable market opportunities for the market players. Factors, such as unique coatings, laminations, high printability, and striking appearance make paper & paperboard more attractive compared to other materials.