The gift boxes market size is poised to cross a valuation of US$ 2,018.62 million in 2023 and is predicted to hit a valuation of US$ 3,753.80 million by 2033. The gift boxes market share is estimated to expand at a CAGR of 6.4% from 2023 to 2033.
E-commerce is one of the aspects that influence the growth of the gift box market. The growth of the e-commerce market has had a significant impact on the development of the gift box packaging industry because gift boxes are used to package goods to ensure the safe delivery of the product.
Gift boxes are no longer used solely to protect products from damage, but they also have some unique characteristics such as durability, reusability, and an appealing appearance. The gift box market is gaining popularity throughout the global market due to some superior characteristics when compared to alternatives.
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Market growth for gift boxes is largely driven by corporate gifting. Companies frequently give gifts to staff members, customers, and partners on special occasions or to show appreciation to them. These corporate gifting practices aid in market expansion, particularly around the holidays and year-end celebrations.
Key Takeaways from Gift Boxes Market Report:
- The market expanded at a CAGR of 5.5% from 2018 to 2022.
- In 2022, the global market size stood at US$ 1,897.2 million.
- North America is expected to account for nearly 23% share of the gift boxes market in 2023.
- In 2023, Europe is expected to acquire a 29% market share in the gift boxes market.
Recent Developments Observed by FMI:
- In January 2022, Xiaomi and Qualcomm teamed up to celebrate the Chinese New Year. The gift box that was introduced as a result of this partnership was officially known as the “Xiaomi 12 Years Shopping Festival Selection Gift Box”. You get the Xiaomi 12, a special red protective case, and a glittering Snapdragon 8 Gen 1 commemorative souvenir in the box. The box has been inscribed with the year 2022 and a tiger head instead of the zero in honor of the Year of the Tiger.
- In March 2022, Brooklyn Delhi released a new gift box in advance of the holiday season. Brooklyn Delhi provides a full range of premium Indian pantry staples for the contemporary kitchen, including simmer sauces like Golden Coconut Curry and Tikka Masala as well as condiments like the newly launched Curry Mustard and Spicy Mango Chutney. Every Brooklyn Delhi product is made from only the finest, organic ingredients.
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Gift Boxes Market Segmentation
By Raw Material :
- Paper
- Plastic
- Others
By End Use :
- Consumer Goods
- Food & Beverages
- Bakery & confectionery
- Alcoholic Drinks
- Frozen Desserts
- Others
- Electronic Devices
- Cosmetics and Personal Care Products
By Product Type :
- Slide Sleeve
- Telescopic
By Printing Technology :
- Lithography Printed
- Flexography Printed
- Electrophotography Technology Printed
- Dry Toner Printed
- Liquid Toner Printed
- Inkjet Photography Technology Printed
- Other Printed
By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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