Global Magnetic Closure Box Market: An Overview
Magnetic closure box is a specialty / gift box, which provides closing with the help magnet. It reduces the effort of sticking / sealing the box. Magnetic closure box are used in luxury packaging, which looks attractive and provides additional value to the product. Magnetic closure box is used in applicants like books, jewelry, wines, and watches. The global market for magnetic closure box is primarily influenced by the design and attractiveness of the box according to the product need. Therefore, it is vital for manufacturers to get along and anticipated changes in the packaging industry according to the recent trending luxury product. Modern customer requirements cover a wide range of luxury goods, which include classic, modern abstract designs, for the magnetic closure boxes. The increasing attention towards the packaging of the product has enhanced the production capacity as well as customization of the boxes, suitable for the product. The manufacturers in the magnetic closure box market are working upon their capability to offer customized magnetic closure box. Growth in demand for luxury, special edition and antique good is expected to ensure positive growth towards the global magnetic closure box market in the forecast period.
Global Magnetic Closure Box Market: Dynamics
The magnetic closure box market is expected to grow on the footprint of increasing demand for luxury goods across the globe. Magnetic closure box usually made of cardboard / paperboard. However, specially customized magnetic closure boxes are also designed by manufacturers, with premium material such as leather/ fabric, embedded with brand logo on the box. According to the customer need, customization magnetic closure boxes are expected to drive the global market over the coming years. Manufacturers of magnetic closure boxes are focusing on the product with increased attractiveness, along with providing excess royalty. These include persistent efforts to include novel design towards the magnetic closure to the packaging / gift box portfolio, to give a traditional or classic appearance. In line with the product development, specialty boxes designed with numerous shapes & sizes are out as per end use requirement. Magnetic closure boxes are used in product launch and exhibition events, to enhance the consumer appeal of the product. The global market for magnetic closure box is also influenced by special edition and expensive electronic gadgets. Moreover, luxury equipment and royal pens are packed in a magnetic closure box.
Global Magnetic Closure Box Market: Segmentation
The global magnetic closure box market is segmented as follows -
By product type, the global magnetic closure box market is segmented into –
- Standard Box
- Customized Box
By material type, the global magnetic closure box market is segmented into –
- Others (Plastic, etc.)
By end use, the global magnetic closure box market is segmented into –
- Personal Care & Cosmetics
- Food & Beverages
- Others (Apparel, etc.)
Global Magnetic Closure Box Market: Regional Outlook
The North America magnetic closure box is expected to remain at the top in terms of value and volume, during the forecast period. The U.S. magnetic closure box market will be a key contributor to the growth of the magnetic closure box market across the globe. This is attributed to an increase in demand for luxury good with attractive packaging in the country. Economic powerhouses such as China and India in the Asia Pacific region are expected to witness healthy growth in the magnetic closure box market, fueled by improved living standards and increased attraction towards branded and luxury product of the upper-middle-class population as well as higher class.
Global Magnetic Closure Box Market: Key players
Some of the leading players operating in the global magnetic closure box market are as follows –
- Monro, Inc
- Petra and Holum
- Progress Packaging Ltd
- Anbo international group limited
- Friend Box Company
- Burt Rigid Box, Inc,
- Guangzhou Yifeng Printing & Packaging Co., Ltd.
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