Technological advancements aimed at enhancing the manufacturing process of flexible packaging to lower energy costs will promote the market development further.
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Although, volatile raw material price of HDPE (High-density polyethylene) is projected to hamper the growth over the next few years. Also, ongoing product development coupled with rising utilization of bioplastics will open novel avenues over the coming years.
The worldwide personal care packaging market is categorized as per technologies, products, packaging types and regions. Based on applications, the personal care packaging market is divided into skin care, Bath &Shower, hair care and Fragrances. In 2014, Skin care dominated the market and is expected to undergo substantial growth over the forecast period. Also, increasing awareness regarding beauty will stimulate the skin care segment growth further.
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The products include flexible, metal, paper, glass and rigid plastics. Flexible product segment led the market in 2014 and is likely to experience lucrative growth over the forecast period. Several advantages of flexible product segment comprise less raw material requirement, easy disposable and light weight.
On the basis of packaging types, the market is split into bottles, cans, jars, tubes, cartons and others. Bottles dominated the market with the highest revenue share in 2014 and are anticipated to expand owing to its increased use in hair care and skin care products. On the other hand, Cans are likely to lose its share owing to its high manufacturing cost coupled with harmful environmental impacts.
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Region wise, the market is segmented into Asia Pacific, North America, Europe, Latin America and MEA. In 2014, Asia Pacific personal packaging market dominated the global market and will continue to lead the industry. Increasing income level and grooming awareness especially among men is will propel the industry demand in the region. Also, Augmenting consumption of perfumes, gels, skin creams, tanning lotions and hair serums will contribute in personal care packaging market expansion.
The market is extremely competive with key companies involved in regular product innovation and R&D activities. Major companies in global personal care packaging market consist of Mondi plc Amcor, Albea Group and Bemis Company.
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