Market Dynamics:
The luxury packaging market is primarily driven by increased spending capacity of high net-worth individuals along with rising popularity of premium and luxury brands globally. Additionally, luxury packaging helps luxury brands to differentiate their products from others and create brand value, which is further fueling demand in the market. However, high costs associated with premium packaging materials may hinder the market growth.

Key Takeaways

The Global Luxury Packaging Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing disposable incomes and expanding luxury goods sector. Growing preference for premium and sustainable packaging to enhance brand personality further supplements market growth.

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