Pira reports luxury packaging growth in Asia Pacific

A newly released study by Pira International, an international research firm specializing in the packaging supply chain, reveals that luxury goods packaging in Asia Pacific is expected to grow by 7.1 percent in market value in the period to 2015. 

Led by strong growth in Chinese luxury goods sales, the region is now ‘the clear leader in luxury packaging’, accounting for 35 percent of world sales value in 2010, says the report.   

According to the Pira study, the global luxury goods packaging market represented 3 percent of global consumer packaging sales in 2010. Valued at almost USD $12bn in 2010, consumption reached just over 7.6 million tonnes. It indicates that that Asia Pacific will increase its share of luxury packaging sales over the period 2010-15 as economic growth in the region continues to outstrip the more mature western European and North American regions. 

Healthcare, cosmetics and fragrances are the largest end-use sectors for luxury packaging and labeling, accounting for around 46 percent of the market value in 2010, while premium alcoholic drinks and gourmet food and drink rank second and third.