The wristwatch packaging market is likely to record a CAGR of 5.2% through 2032. The market is likely to be estimated at US$ 4025.72 Mn by 2032, up from its current valuation of US$ 2424.86 Mn in 2022.
Attributes
Details
Wrist Watch Packaging Market CAGR
5.2%
Wrist Watch Packaging Market (2022)
US$ 2424.86 Mn
Wrist Watch Packaging Market (2032)
US$ 4025.72 Mn
The millennial generation is fond of brands, luxury, and innovative products. Due to such a lifestyle, the manufacturers are innovating various established packaging of wristwatch boxes, bags, and cases in recent years. They are making sophisticated wristwatch packaging with creative designs. The key players are adopting innovative and high-tech machines to increase all-over production with minimum output cost.
Manufacturers all around the region are designing elegant boxes for wristwatches to give a luxury look for packaging as per demand by consumers. Providing better quality packaging attracts the consumers to buy them, which directly increases the sales of products. Besides, suppliers and distributors are organized separately to influence consumers to catch their attention.
Moreover, these prominent players use raw materials, including PET and HDPE plastic, to develop unique, lightweight wristwatch packaging. Some top innovative and highly advanced technology companies are developing high-tech smartwatches with premium packaging cases and bags.
Such companies are Apple, Samsung, Google, and others. Growing purchasing power by end-users is making a huge profit share among key players in recent years, as well as increasing the sales of wristwatch packaging.
Some top companies represent their luxury wristwatch with extraordinary packaging to feel the customers buy their products. They focus on their customers and provide products likewise to fulfill their requirements. On the other hand, the manufacturers are taking orders from their daily and new customers to give them satisfaction related to their products. Most of the time, consumers order luxury products to gift to someone on special occasions.
The key players present their unique and timeless designed products, categorized in different price ranges, packaging styles, and effective gift packaging, as the key players know about the effective strategy that highlights their presentation and packaging to grow more sales. Moreover, several start-ups are developing reputable brands and providing open-box experiences to the end users adding value to the market.
The key players contribute a key role in securing maximum revenue in the market. They use versatile materials to give effective packaging. Several methods and designs adopted by them are likely to increase the demand for a premium wristwatch in recent years. Some prominent players have been using wood and other corrugated boxes in recent years to give them an exotic and classic look.
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Wrist Watch Packaging Market Overview
Branding is one of the key influencing tools for wrist watch sales which has strengthen the revenue of wrist watch market. One of the factors which helps in an impulse purchase of watches is due to sophisticated and stylish packaging boxes and cases of wrist watches.
Traditionally wooden and metal material used for packaging wrist watches accounted for significant percentage of share in wrist watch packaging, but currently with plastic material sharing similar properties, the use of plastic boxes has increased.
Besides, product innovation and technological development in machine have increased the overall production output at minimal cost. All such factors have led manufacturers to tap the untapped regions of the Middle-East and Asia Pacific excluding Japan.
The shapes of wrist watch packaging boxes and cases have evolved from traditional round and square shape to triangle and diamond shaped boxes and cases which helps to differentiate the packaging for wrist watch packaging manufacturers.
All such factors have contributed to increase consumption in the region of Asia Pacific which accounts for prominent use of wrist watch packaging and are further projected to remain dominant in global wrist watch packaging market over the forecast period.
Wrist Watch Packaging Market - Market Dynamics
Manufacturers of wrist watch are focusing on product innovation and development as watch manufacturers highly demand elegant box design. Organized retail stores act as a key influencing platform to display watch boxes and cases so as to cater the demand of luxury watch segment consumers. Also, easy availability of raw material such as HDPE and PET plastic have increased the supply capacity of wrist watch packaging manufacturers.
Moreover, technological development in wrist watches has led to innovation of smart watches such as Google, Apple, Samsung, etc., which has accounted for over 5% of overall wrist watch sales which has helped to improve the volume of the wrist watch.
All such factors have surged the demand for wrist watch packaging in the regions of North America and Europe. Rising purchasing power of young and consumerist population of emerging region has increased the sales of wrist watches wherein young population accounting for a greater share of purchase.
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Wrist Watch Packaging Market - Regional Outlook
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Japan
In term of production the global wrist watch packaging market highly fragmented across regions of Asia pacific excluding japan, japan, North America and Europe. On the basis of consumption the market is highly concentrated with three countries that is Hong Kong, United States, China, France and Germany accounting for large market share. Market in the countries of Asia Pacific excluding Japan is expected to witness a robust CAGR over the forecast period.
Global Wrist Watch Packaging Market – Key Players
Some of the key players operating in the global wrist watch packaging market include Interpak, Linkupak, Ch. Dahlinger GmbH & Co KG, National Pak Ltd, Studioabd, Kling Display & Packaging, Cyberpac, Delu Ltd., LOMB ART.
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