23 October 2017
John Nelson | Four drivers for luxury packaging markets
The distinction between mass-market and luxury products is becoming blurred, prompting luxury brands to turn to innovative technologies and strategies to attract customers to their high-end goods.
According to the new Smithers Pira report – The Future of Luxury Packaging to 2022 – the luxury packaging market was valued at over $13.77 billion in 2016, with global sales forecast to increase by 3.4% in 2017 to $14.25 billion. In volume terms, a growth rate of 2.6% is forecast for 2017, after which the world market is expected to increase by an annual average of 1.3% up to 2022.
The full story can be found at - www.packagingnews.co.uk