Over the past decades, the global gift
industry witnessed an impressive growth, owing to the expanded customer
base along with increasing applications of innovative products at
attractive prices. The gift market comprises of corporate gifting as
well as personal gifting. Moreover, the gift packaging market
experienced a revolution with new product innovations in the food as
well as in the non-food segment accompanied by eye-catching packaging.
Nowadays non-food gifting are not only restricted to small electronic
items, bed sheets but also include gift vouchers, soft toys, artworks,
artificial jewelries and many more.
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At the same time, various product types
like cookies, fruit baskets, wine hampers, different types of cheese
which comes under the categorization of food gifting for occasions like
festivals, birthdays, etc. are also in the trend. The changing lifestyle
together with customer’s ability and willingness to pay for innovative
products drove this change in the gift packaging market.
Nowadays, wrapping paper are in demand
for gifts packaging. Some of the conventional examples of wrapping paper
are recycled newspaper, reusable gift wrap, decorative lunch bags, gift
box, decorative shopping bags and many more. The new alternatives for
gift wrapping are also being introduced, for example, using a decorative
handkerchief which also has other application can further fuel the
growth in demand for gift packaging market. The gift market is expected
to expand with a healthy growth rate of over 10% which in turns growth
of the gift packaging market in the near future.
The growing e-commerce in the gifting
space is one of the major factor which is expected to drive the demand
for the gift packaging market. Big e-commerce companies such as Snapdeal
and Amazon play a vital role in fuelling the demand for gift packaging market.
Further, increase in per capita income, increasing exposure to global
trends is offering impetus to the growth of overall gift industry which
in turn is escalating the gift packaging market across the globe.
Personal gifting in number of occasions like birthdays, anniversaries,
father’s day, and Mother’s day is on the rise as the consumers, want
uniqueness, different styles and personalization in their gift items, to
match their status.
In past years, food gifting was limited
to the conventional sweets only, but nowadays customers are moving
towards consistent quality products with a good taste in attractive
packaging, which is a result of growing incidence of adulteration in
conventional sweets.
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