Gift Packaging Market Size, Share, and Trends 2024 to 2033

Gift Packaging Market Size and Growth

The global gift packaging market size was USD 25.48 billion in 2023, calculated at USD 26.58 billion in 2024 and is expected to reach around USD 38.93 billion by 2033, expanding at a CAGR of 4.33% from 2024 to 2033. The increasing popularity of corrugated gift boxes, due to their diverse beneficial properties like resistance, reusability, aesthetic appeal, and much more, is predicted to stimulate the gift packaging market.

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Gift Packaging Market Key Takeaways

• North America dominated the gift packaging market in 2023.
• Asia Pacific is expected to host the fastest-growing market during the forecast period.
• By material, the paper & paperboard segment has held a significant revenue share of 44% in 2023.
• By material, the plastic segment will grow rapidly in the market over the forecast period.
• By product type, the gift boxes segment has contributed more than 22% of revenue share in 2023.
• By product type, the gift bag segment is expected to show the fastest growth in the market during the forecast period.

Market Overview

Gifts are used to show appreciation to family, friends, clients, and others, fostering strong relationships. Gift packaging involves wrapping a gift in specific materials to enhance its visual appeal. Common packaging options include gift boxes, bags, sacks, ribbons, and bows, available in various shapes, sizes, and colors to meet diverse needs. Sales of gift packaging solutions are expected to rise in the coming years, driven by their growing acceptance across different occasions. Manufacturers are focusing on helping businesses improve their product presentation on shelves with minimalist designs and innovative styles.

Gift Packaging Market Growth Factors

• Growth of e-commerce platforms is expected to drive the growth of the gift packaging market.
• Increasing technological and design innovations in gift packaging can fuel the gift packaging market growth further.
• The growing trend of corporate branding in various companies can boost market growth shortly.
• Rising demand for the luxury gifting segment will likely help with the gift packaging market expansion further.

Gift Packaging Market Scope

Gift Packaging Market Dynamics

Driver

New simplistic designs

The vibrant and lively designs are being replaced with simple and sophisticated ones. The current trend in the industry is to simplify gift wrapping. Consumers are increasingly attracted to gift boxes with uncomplicated designs that emphasize important qualities without being flashy. To appeal to customers with presentation styles, manufacturers are embracing the trend towards minimally attractive gift box designs. This new trend is likely to contribute to market growth. The increasing number of auditoriums, seminars, and corporate events is promoting occasions for parties and celebrations, which can boost the demand for the gift packaging market.

• In September 2023, Anaïk taps into the luxury packaging business with a brand-new collection. The French company specializing in gifts with purchase and accessories is accelerating the development of its luxury packaging business.

Restraint

Increasing consciousness about the low recyclability of wrapping products

While wrapping paper may include "paper" in its name, it isn't always recyclable. Many types contain additives like glitter, plastic, and metallic elements that prevent them from being recycled. Each year, wrapping products generate millions of tons of waste, much of which ends up in landfills globally. As consumer awareness of the environmental impact of various packaging materials grows, the use of gift-wrapping products is declining. This trend poses a threat to the gift packaging market growth potential.

Opportunity

Personalization and customization in package print

The concept of customization has always been central as customer preferences evolve and become more specific. This shift has also transformed the gift packaging industry, especially in terms of printing on packages. There is now a growing demand for custom prints to add a personalized touch to gifts. In response, companies in the gift packaging market are expanding their services and offerings by providing customers with the option to select their prints to foster long-term relationships. Customers can choose their preferred prints based on the type of gift, hence enhancing convenience, design possibilities, and flexibility

• In March 2024, Absolut Vodka, a part of the French group Pernod Ricard, introduced the personalized ‘phygital’ gifting bottles for celebratory occasions. The new bottles are being trialed on Amazon Italy exclusively. The pilot effort is part of Pernod Ricard’s broader strategy to connect consumers with its packaging.

Material Type Insight

The paper & paperboard segment held a significant share of the gift packaging market in 2023. This is due to the rising bans on plastics in the packaging industry, the demand for paper and paperboard has significantly increased, which can support market growth. As environmental safety and sustainability become major concerns, the use of recycled paperboard and paper in gift packaging has grown substantially. Moreover, increasing customer awareness about environmental health and the negative effects of non-biodegradable materials and plastics in gift packaging has driven the adoption of paper and paperboard as viable packaging materials.

The plastic segment will grow rapidly in the gift packaging market over the forecast period. Consumers are increasingly aware of the environmental impact of plastic and metal packaging, leading to a growing demand for sustainable alternatives like biodegradable plastics. With the rise of e-commerce and personalized gifting, there is a trend toward customizing packaging with unique designs, logos, and messages, which can drive segment growth.

Product Type Insight

The gift boxes segment dominated the gift packaging market in 2023. This is linked to the rising popularity of eye-catching packaging designs among consumers and the increasing demand for customized gifts have been driving market expansion. Businesses are selecting boxes more thoughtfully due to technological advancements in box materials and the rapid growth of e-commerce. Additionally, the global rise in the consumption of sweets, chocolate, toys, and wine has led to increased demand for gift boxes.

• In January 2022, Rockit launched its new themed gift boxes. With Chinese New Year on the horizon, apple company Rockit Global has once again stepped outside the box – the traditional gift box,

The gift bag segment is expected to show the fastest growth in the gift packaging market during the forecast period. Gift bags are a popular form of gift wrapping. These pre-made bags are designed to hold gifts and can be made from materials such as paper, fabric, or plastic. They come in various shapes and sizes, often featuring handles or straps for easy carrying.

• In November 2023, Gifting brand Tokki hits Target shelves with a new spin on reusable gift bags with a pitch to help gift-givers add personalized messages to their packages to help keep them in circulation.

Regional Insight

North America dominated the gift packaging market in 2023. The long-standing American tradition of regularly giving gifts to friends and family, combined with a growing consumer preference for eye-catching packaging paper designs, is expected to fuel the sales of gift-wrapping paper. This trend is anticipated to boost market demand for gift wrapping. The United States holds the largest market share in North America. A strong CAGR is expected in the U.S. gift packaging market during the forecast period.

Asia Pacific is expected to host the fastest-growing gift packaging market during the forecast period. This growth can be attributed to several macroeconomic and indirect factors. Emerging economies such as India and China are particularly lucrative due to their cultural emphasis on gifting during festivals. Consumers in these countries, especially those with higher purchasing power in China, prefer elegant gift box options. Businesses in China are attracting customers by offering unique products and services that enhance the overall gifting experience. Furthermore, consumers enjoy sharing photos of distinct packaging on social media, which is expected to boost the trend of themed gift packaging.

• In May 2024, Wine Gift Box Launch Event "When Yantai Meets Bordeaux" Held in Paris to Commemorate the 60th Anniversary of Diplomatic Relations between China and France. The event was part of the Sino-French Gastronomy Festival, which aims to boost cultural exchange and mutual learning through the tasting of distinctive wines from each country.

Gift Packaging Market Companies

• Hallmark Cards
• Packlane
• Smurfit Kappa Group
• Ebro Colour GmbH
• Interpack
• Card Factory
• DS Smith plc
• IG Design Group plc
• Karl Knauer KG
• Mondi plc
• Manjushree Technopack Limited
• Qwikcilver Solutions
• Diageo

Recent Developments

• In September 2023, Louis Vuitton opted for craft gift boxes to depict its commitment to the Chinese market. This year, the gift box designed by Louis Vuitton is inspired by the Qianlong book box, which was initially used to protect precious books and calligraphy during Emperor Qianlong’s reign in the 1700s.
• In August 2023, Hallmark and Venmo declared their first-ever and unique collaboration that simplifies the gifting process with the introduction of Hallmark + Venmo Cards. With this innovation, customers can safely send money to friends and family. Thus offering a unique and user-friendly way to give gifts to near and dear ones and transforming the gift-giving experience.
• In September 2023. Hotel Eclat Beijing is a modest luxury hotel renowned for its collection of museum-caliber artwork. The hotel launched a limited-edition mooncake gift box with Dreamy Rabbit's artistry. Dreamy Rabbit was made by the Icelandic-Chinese artist Eirds Ragnarsdóttir. The painting honors the approaching Mid-Autumn Festival.
• In August 2023, Hallmark and Venmo announced their first-ever, groundbreaking partnership with the launch of Hallmark + Venmo Cards, which streamlines the gift-giving process. Thanks to this invention, customers can send money to friends and family securely. This transforms the experience of giving gifts by providing a special and convenient way to do it.
• In May 2022, Smurfit Kappa UK Limited, which is a paper-based packaging product manufacturer, acquired Atlas Packaging which provides corrugated packaging solutions.

Segments Covered in the Report

By Packaging Type

• Primary
• Secondary
• Tertiary

By Product Type

• Gift boxes
• Containers
• Ribbon & bows
• Gift sacks
• Gift Bags
• Wrapping Paper
• Tissue paper & Shreds
• Cellophane Overwrap & Bags
• Gift cards & Money Holders
• Others

By Material

• Plastic
• Paper & paperboard
• Metals
• Glass
• Others

By Geography

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa