New York, June 21, 2021 (GLOBE NEWSWIRE) — Personal Care Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Personal Care Packaging Market Research Report, Material, Product, Application and Region – Forecast till 2027” The personal care packaging market was valued at USD 26.81 billion in 2020 and is expected to reach a value of USD 35.4 billion by 2027, at a CAGR of 5.1% during the forecast period from 2021 to 2027.
The personal care packaging market outlook appears extremely positive. The market growth attributes to the rising demand from the personal care & cosmetics industry and the availability of various sustainable packaging solutions. Besides, increasing investments and rising research & development activities for green solutions drive the personal care packaging market growth.
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Key companies profiled in the Personal Care Packaging Market are–
WestRock Company (US)
Amcor Limited (Australia)
Saint-Gobain SA (France).
Mondi Group (Austria)
Bemis Company Inc. (US)
Sonoco Products Company (US)
Gerresheimer AG (Germany)
Albéa Services SAS (France)
Ampac Holdings LLC (US)
Ardagh Group (Luxembourg)
HCT Packaging Inc.(US)
Manufacturers are increasing the production of packaging solutions that are lightweight, have lesser carbon footprints, and are recyclable to meet the growing demand from the personal care industry. Also, focus on innovation in terms of sustainability offer major growth opportunities for the market players. Furthermore, the expansion of cosmetics, personal hygiene, and the pharmaceutical industry provide substantial impetus to the market growth.
Emergence of innovative and sustainable designs drives the market demand. Leading players focus on recyclability options and aesthetic looks that can attract consumers while adhering to stringent government regulations for sustainable solutions. The market is projected to escalate further during the forecast period. The personal care products demand is increasing continually, as consumers become more aware of their health, safety, and security.
Over the last few years, the beauty & personal care industry has grown exponentially. The COVID-19 ordeal added to the importance of hygiene and personal care. Since then pushed the personal care packaging industry is growing rapidly. With more and more citizens understanding, personal care product sales are soaring high. Furthermore, increasing preference for high-quality products and the changing lifestyle of consumers escalate the market on the global platform.
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COVID-19 has positively impacted the global personal care packaging industry. While the pandemic caused huge revenue losses to many industries, it has literally pushed the market, setting up strict norms for personal hygiene. Yes, manufacturers did suffer issues related to disrupted supply chains and shortages of key raw materials required. Also, getting the workers during the lockdown was a big issue that industry leaders did face.
Moreover, the spread of the virus restricted cross-border trade between countries, determining the market demand. However, the pandemic boosted the healthcare industry and investments in personal care manufacturing. The demand for personal hygiene supplies and healthcare products to address SARS-CoV-2 would keep rising steadily further beyond 2021. Also, it is expected that the personal care packaging demand could pick up following the uplift of the lockdown in many countries.
There are certain changes in consumer behavioral patterns with increasing sales and demand for personal care and hygiene products. Consumers now purchase products developed with natural and organic ingredients and packaged in eco-friendly and biodegradable packaging solutions. This is majorly due to the growing awareness about health and wellness among consumers who believe that choosing natural products would allow them to do their bit to conserve the environment.
Eco-friendly bio-degradable packaging is less likely to release or induce toxins to products stored inside. Besides, it also helps the environment by not adding to the non-biodegradable garbage problem. Government initiatives towards promoting eco-friendly packaging materials across personal care products contribute to the personal care packaging market share.
The report is segmented into products, materials, applications, and regions. The product segment is sub-segmented into bottles, jars, cans, tubes, pouches, and others. The material segment is sub-segmented into plastic, glass, metal, and others. Plastic is the largest application segment heading with the convenience and ease of maintaining the hygiene of these materials.
The application segment is sub-segmented into skincare, cosmetics, fragrances, bath & shower and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and rest-of-the-world.
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The Asia Pacific region is the largest personal care packaging market globally. The largest market share attributes to the sharp rise in the cosmetic industry and rising consumer preference for eco-friendly products. Besides, the ample availability of raw materials and cost-competitive workforces drive the beauty & cosmetic packaging market growth in the region.
Growing disposable incomes and beauty care & cosmetics sectors, and increasing demand for small packaging size are some of the leading personal care packaging trends. Also, the burgeoning medicated personal care product industry boost the personal care packaging market size. Malaysia, Indonesia, China, and India are the major contributors to the personal care packaging industry in the region.
North America holds the second-largest personal care packaging market share globally. Efforts of regulatory forces to increase the packaging quality and functionality and rising numbers of personal care companies in the region influence the personal care packaging market revenue.
Moreover, various state-backed initiatives and investments by notable industry players increase the region’s personal care packaging market share, leading to the faster development of advanced packaging technologies. The US accounts for the largest market in the region in terms of personal care packaging market value.
The market is highly competitive and fragmented. Many big and small market players form a competitive landscape, adopting strategic expansion of businesses in emerging markets. To maintain market position and create new markets, industry players rely on strategic approaches and innovation. They invest substantially and keep themselves updated with new technological developments and the latest consumer trends by developing human capital.
For instance, on Jun.08, 2021, EDL Packaging announced customization of its twin stream bundler to streamline shelving of personal care products. The upgraded bundlers incorporate a family of designs that use low-density polyethylene (LDPE) to wrap various products, including cans, personal care product bottles, and large boxes. Designs are improved to meet the unique needs of each specific customer.
Segmentation of Market covered in the research:
Information: 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 (North America, Europe, Asia-Pacific and Rest of the World)
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