The global gift packaging market remains a fragmented landscape, with the top five players accounting for around 9% of the market share in 2017. Leading players in the gift packaging market space are expanding their reach across densely populated emerging economies, to benefit from the booming retail sector. For instance, Hallmark Cards, a key player in the gift packaging market, is vying to capitalize on new opportunities by distributing its products across emerging economies such as India and China.
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The fad for personalized packaging and pervading culture of corporate gifting have been identified as the key growth levers of the gift packaging market landscape. The Fact.MR research study projects an optimistic picture of the buoyant prospects of gift packaging market over the forecast period of 2018 to 2028. Personal gifting on occasions, being perceived as a gesture of mutual admiration, is slated to augur well for the growth of gift packaging market.
Popular trend of food gifting has also been identified as a predominant driver fuelling growth of gift packaging market. The report also projects that manufacturers, keeping an eye for a scope to increase their festival-related purchase rationales, are highly likely to gain competitive advantages in the gift packaging market. The Fact.MR’s report illustrates all the crucial aspects, ranging from altering customer preferences to strategic moves of the prominent brands, for an in-depth understanding of the key revenue levers.
Franchising to Offer Prime Opportunities for Emerging Businesses to Gain Foothold
Franchising has been an age-old successful business strategy for affluent expansion of businesses, with gift packaging being no exception. Franchising has been embraced as a favorable business concept and has often evolved as a ‘win-win’ for both the franchisor as well as the franchisee.
In the present scenario, franchising has become prominent in the gift packaging market as a viable avenue for business proliferation within a stipulated amount of time. Startups vying to make it big in the market are swiftly gravitating toward this business concept, as it offers sustainable revenue benefits and enhanced survival rates for both the franchisor and the franchisee.
Creating Consumer Connection via Customized and Personalized Prints- A Strategic Lever for Success
Prominent brands are increasingly leveraging on the rising demand for customized and personalized prints, a trend that carries significant implications for the gift packaging market. Key manufacturers, in line with the aforementioned, are diversifying their offerings and empowering customers to choose their own prints, in a bid to achieve long-term customer retention.
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Key players, such as Karl Knauer KG and DS Smith plc, are offering immense scope for customized prints on their gift packaging formats, in a bid to equip the customers with new dimensions of design possibilities, convenience, and flexibility.
Trend of Corporate Rewarding and Gifting to Create Lucrative Avenues for Gift Packaging Market
A majority of the companies are rapidly gravitating toward the concept of corporate rewarding on specific occasions. This not only acts as a gesture of mutual acknowledgment, but is also a viable strategy of the companies to foster new relationships, both with their employees and clients.
The rising popularity of corporate gifting among companies as a strategic move for sales promotion is likely to propel the demand for gift packaging in the forthcoming years. A healthy penetration of the corporate gifting trend is anticipated to introduce new profit-making aspects for the gift packaging market.
Competitive Landscape
The competitive landscape features profiles of key companies operating in the gift packaging market. Various aspects central to profiles of the key players in the gift packaging market, such as product portfolios, product innovations, differential business strategies, and many more have been extensively analyzed in the report on gift packaging market. The report on gift packaging market features prominent companies such as IG Design Group Plc., Hoomark (Subsidiary of IG Design Group), Card Factory Plc., Mondi Group Plc., Hallmark Cards Inc., KARL KNAUER KG, and DS Smith Plc.
IG Design Group Plc., a key player in the gift packaging market, entered into a strategic partnership with inventor, Erin Borges, of "GoGo Gift Bag" in the year 2017. This acquisition helped the company to attain distribution rights for marketing its products in the domestic and international markets. Moreover, the company is emphasizing to extend its market presence in the developed as well as emerging nations such as U.S. and China. Card Factory Plc., a leading player in the gift packaging market, launched its transactional and online sales website i.e. www.cardfactory.co.uk in 2013, to venture into the e-commerce platform and boost its sales potential. Moreover, the company also acquired the assets of "Printcraft" in 2009 in order to expand its operations with a 10-year capital expenditure plan.
Market Structure
The gift packaging market has been segmented on the basis of product type, packaging form, packaging type, and region. By product type, the gift packaging market has been segmented into bows, containers, boxes, ribbons, wrapping paper, bags, pouches, decorative articles, tapes, and films and foils. By packaging form, the gift packaging market has been classified as flexible and rigid. By packaging type, the gift packaging market has been classified as primary and secondary. The gift packaging market has been gauged across key regions such as North America, Latin America, APEJ, Europe, CIS & Russia, MEA, and Japan.
Research Methodology
The report on gift packaging market is a comprehensive compilation of the facts procured with the help of a diligent research methodology. The primary and secondary research sources have been meticulously studied and analyzed to derive important focal points and statistics central to the growth of gift packaging market. The data points gleaned from these affluent methodologies and external credible sources are triangulated in order to offer an unmatched analysis of the global gift packaging market.
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