Personal Care Packaging Industry Boost Attributed To Packaging Sector Expansion | Market Forecast for Next 5 Years
Market Research Future added New Report Named “Personal Care Packaging Market Research Report – Forecast to 2023” to its Database.
Hadapsar, Pune, India – April 24, 2018 /MarketersMedia/ —
MarketResearchFuture.com added New Report Named “Personal Care Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation By Material (Plastic, Glass, Metal, Others), By Product (Bottles, Jars, Cans, Tubes, Pouches, And Others), Application (Skin Care, Cosmetics, Fragrances, Bath & Shower And Others), And Region | Outlook to 2023” to its Database.
Personal care packaging is done for various products such as cosmetics, shampoos, soaps, body creams, and oil and toiletries. It is packaged in the form of boxes, pumps, bottles and others using various materials, for instance, glass, plastics, paperboard, metal, and others and packaged. Rapid urbanization, changing consumer lifestyle, advancing packaging technology, and rising importance of packaging are attracting the consumer to use packaged products.
The global Personal Care Packaging Market is likely to exceed USD 35.20 billion by 2023. Innovation in the packaging technology coupled with the increasing consumption of beauty & cosmetic products is projected to propel the market during the forecast period. Rising demand for skin & hair products, growing awareness about healthy living are also expected to fuel the market growth. Additionally, high durability coupled with lighter nature providing growth opportunities during the forecasted period. However, strict regulations on the safety of the packaged products hampering the market growth.
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Environmental consideration is a prominent part in the personal care sector. Recent trend shows that brand owners are focusing on consumers’ demand for environment-friendly products and packaging by using more natural ingredients and recycled packaging. Urbanization, increased beauty sophistication, especially within age ranges, and the growing popularity of male grooming are other growth influencing factors in the global market. Aging population is affecting product functionality and type of packaging such as the use of easy-grip containers.
Consumers are opting for both smaller and larger pack sizes. The small sized packaged products are easier for consumers to carry. Whereas, oversized beauty and personal care products are popular for daily use items such as shampoos and conditioners where consumers can get greater value for their money by buying in bulk.
Innovation in the packaging is creating exciting opportunities within the packaging industry. Growth in the packaging industries coupled with increasing purchasing power of the consumers are some of the major factors pushing the market growth further. Launches of innovative, value-added new products and focusing on multi-functional, convenient, easy to use, and sustainable resources are some of the major driver of this market.
The global personal care packaging market is segmented on the basis of material, which includes plastic, glass, metal, and others. Plastic accounted for the largest market size due to its convenience and hygienic qualities. On the basis of the product, it is segmented into bottles, jars, cans, tubes, pouches, and others. By the application, it is characterized by skin care, cosmetics, fragrances, bath & shower and others. The sharp rise in the cosmetic industry is expected to drive the beauty & cosmetic packaging market in the upcoming years. By geography, it includes the Americas, Europe, Asia Pacific and the Middle East & Africa. Geographically, rising consumer preference for eco-friendly products, growing disposable incomes, increasing demand for small packaging size are some of the factors driving the market growth in the Asia Pacific region.
The personal care industry manufactures consumer products used for beauty purposes and personal hygiene. Personal care includes products such as deodorant, perfumes, razors, shaving cream, talcum powder, toothpaste, wet wipes, etc. Flexible packaging, stand-up pouches, brand protection packaging are some of the categories expected to grow in the coming years. Surging demand for hair care and skin care products, increasing consumer awareness, rising consumption of perfumes are expected to fuel the demand for personal care packaging.
Industry/ Innovation/ Related News:
Apr-2017- Silgan Holdings Inc., a supplier of rigid packaging for consumer goods products, announced that it has completed its acquisition of the dispensing systems business of WestRock Company.
Aug 2016 – Albea S.A. acquired Scandolara Tub-Est s.r.o., a laminate tube producer. This acquisition of the Slovakian manufacturer will enable Albea to further boost its business across Europe.
July 2015- WestRock completed the merger of MeadWestvaco Corporation and Rock-Tenn Company to offer a wide variety of packaging solutions for diverse end markets from food and beverage to personal care and healthcare.
July 2015- Amcor purchased Packaging India from Essel Propack. The deal is expected to provide Packaging India an opportunity to further grow and prosper in the flexible packaging space as part of Amcor. Besides India, the company also caters to overseas countries such as Sri Lanka, Africa and developed markets.
Oct 2015- Amcor Rigid Plastics, manufacturer of rigid plastic packaging for the food, beverage, spirits, personal care, home care, and healthcare industries, showcased its innovative and sustainable plastic packaging for everyday consumer use at the Pack Expo exhibition in Las Vegas, Nev.
Towards more sustainability in the packaging
Increased consumer focus towards green packaging coupled with manufacturers growing involvement in sustainability is likely to continue growing. Refillable pouches with their lightweight and sustainable properties are expected to fuel the market growth. Developing environment-friendly packaging solutions is influencing key players and packaging manufacturers.
Regional Analysis
The Asia Pacific personal care packaging market is projected to grow at a high pace during the forecast period. Innovative pack formats, sizes, and functionality, increasing consumers of both personal care and grooming products pushing the market growth. Skin products and other styling products provide UV protection, which is increasing consciousness about anti-aging products further.
A noticeable trend in the global market is the move towards more eco-friendly packaging solutions. With plastic, non-biodegradable nature, other materials such as paper and glass are gaining popularity. Players are also seen experimenting with other innovative packaging materials such as melamine, and silicone. The Asia Pacific region is expected to fuel demand for personal care packaging due to increasing demand for good and luxurious products, concerned about the packaging and its regulations in regions pushing the market.
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The key players in the global personal care packaging market includes Amcor Limited (Australia), WestRock Company (U.S.), Saint-Gobain S.A.(France)., Bemis Company, Inc. (U.S.)., Mondi Group (Austria), Sonoco Products Company (U.S.), Albéa Services S.A.S.(France), Gerresheimer AG (Germany), Ampac Holdings, LLC (U.S.), AptarGroup (U.S.), Ardagh Group (Luxembourg), and HCT Packaging Inc.( U.S.)
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Source: MarketersMedia
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