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.
For ages, gifting has been a fundamental component of human traditions. People tend to spend more on gifts as economies expand and disposable income rises. The market for gift boxes has grown as giving presents has been customary for many occasions, including birthdays, weddings, anniversaries, holidays, and festivals. The growing gifting is predicted to be the leading growth driver for the gift box market.
The market for gift boxes is being substantially influenced by the growth of internet shopping and e-commerce. Now, customers can browse and buy gift boxes and other related products from the convenience of their homes. A vast variety of gift box options are available on e-commerce platforms, and this convenience propels the market’s expansion.
The market for gift boxes is being substantially influenced by the growth of internet shopping and e-commerce. Now, customers can browse and buy gift boxes and other related products from the convenience of their homes. A vast variety of gift box options are available on e-commerce platforms, and this convenience has fueled the market’s expansion.
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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)
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