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 Smithers Pira (smitherspira.com) 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 percent in 2017 to $14.25 billion. In volume terms, a growth rate of 2.6 percent is forecast for 2017, after which the world market is expected to increase by an annual average of 1.3% up to 2022.