The gift boxes market has been attracting consumer interest on the back of the profound interest that gifts hold for cementing human bonding since eternity. Packaging manufacturers and brands, especially those in food business, have shown alacrity in offering customized or curated gift boxes. Innovation of these brands have shown in curation has propelled consumer demand for gift boxes for various events and occasions. These led to the advent of variety of gift boxes in the market such as slide sleeve boxes and telescopic boxes. In recent years, some developing nations such as in Asia have also witnessed the rise in demand for gift boxes in corporate arena.
Among the vast range of things gift boxes contain, these are notable: consumer goods, bakery and confectionary, frozen desserts, food and beverages, alcoholic drinks, electronic devices, cosmetics, and personal care.
Gift Boxes Market: Competitive Analysis and Key Developments
The insights presented in the report on the global gift boxes takes a closer look at the key developments, and assessment of the competitive scenario. The study scrutinizes their role of some of the recent product launches, the inclination of brands, and investments on the competitive dynamics in driving the evolution of the global gift boxes market.
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Brands in the gift boxes market have hit on innovative concepts in what can be packed inside gift boxes, alluring prospective customers to try these. For instance, Box Party Club that claims to be a pioneer in innovative gifting, has come out with range of curated handcrafted, customized boxes for all occasions. In the upcoming occasion of Raksha Bandhan, India-based brands have been making vigorous efforts to stay ahead in the competitive arc in the gift boxes market. Bakery and Cake Shop Brownsalt Bakery collaborated with Gram Art Project to come out eco-friendly gifts and with unique concepts for consumers for celebrating the occasion. For instance, it is offering eco-friendly seed rakhis that can be upcycled into a flowering plant after the occasion is over.
Some of the players looking to gather traction in the competitive dynamics in the gift boxes market are Varanna Industries, Shenzhen Tianya Paper Products Co.,Ltd., Bayley’s Boxes, Shanghai Xianrong Packing Co., Ltd., Valtenna Industria Cartotecnia., and Qingdao Hongrui Industry Co. Ltd.
Gift Boxes Market: Key Growth Dynamics
A key driver in the global gift boxes market is the demand for customized gifts for various occasions around the world. The growth is boosted by the growing popularity of bespoke hamper boxes in various corporate and promotional events. Personalized boxes that can be etched in these are also stoking the popularity. The growing demand for gift boxes through e-Commerce channels such as Amazon has also reinforced sales in the gift boxes market.
The gift boxes market has made notable strides on the back of growing launch of budget-friendly options that can meet variety of tastes and preferences. Adoption of earth-friendly packaging options is a key trend that will spur prospect generation on the gift boxes market.
The gift boxes market has also garnered consumer interest due to growing numbers of curated baby gifts. Brands pack them with soft toys and hard-to-get handcrafted materials. The demand for exotic wooden boxes has also bolstered the sales potential in the gift boxes market.
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Gift Boxes Market: Regional Assessment
Some of the regional markets could be North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. Among these, Europe and Asia Pacific are promisingly lucrative regional markets. Europe has seen brands constantly leaning on trying innovative concepts for gifting in various occasions and events. Further, Asia Pacific gift boxes market has witnessed the popularity of gift boxes to meet the needs of festivals.
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