Personal Care Packaging Market Overview
The global personal care packaging market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2017 to 2023. The valuation of the personal care packaging market was further stated to surpass its previous figure to reach a projected valuation of USD 35.20 Billion by 2023.
The global personal care packaging market is experiencing a sharp increase in terms of growth due to the rising sales volume of personal care products through ecommerce channels. The companies in the market are investing more and more in R&D activities for new development of products and innovation. Add to this, the increasing income of consumers and awareness about health is contributing to the overall growth of the market. Also, there is a rising demand for anti-aging products in the industry and it is expected to open new opportunities for the market in the coming years
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Branding is a major aspect in the personal care product market. One of the most important aspects of branding is packaging. Packaging helps in product identification and makes it stand out. It provides the product with an aesthetic appeal and attracts the eyes of the consumers. This is one of the major driving factors of the global personal care packaging market.
The global personal care packaging market comprises a host of key players. This includes names like
- Saint-Gobain S.A.(France)
- Amcor Limited (Australia)
- Ampac Holdings, LLC (U.S.)
- Bemis Company, Inc. (U.S.)
- Ardagh Group (Luxembourg)
- WestRock Company (U.S.)
- Sonoco Products Company (U.S.)
- Mondi Group (Austria)
- AptarGroup (U.S.)
- Albéa Services S.A.S.(France)
- Gerresheimer AG (Germany)
- HCT Packaging Inc.( U.S.), and others.
It was reported in the global personal care packaging market report that there is an ongoing trend, wherein preference is rapidly shifting towards more eco-friendly packaging solutions. Non-biodegradable materials like glass and paper are increasingly gaining massive popularity. The players in the market are seen experimenting with a number of other innovative packaging materials like silicone and melamine.
July 2019, the SC Johnson-owned brand of soap method became the first personal care company to license and approve the art work of Minted for their packaging purposes.
The global personal care packaging market has been segmented in terms of material, application, and product.
By material, the market includes metal, plastic, glass, and others. The market is led by the plastic segment and is predicted to remain the same over the forecast period. The growth and standings of the plastic segment is due to the hygienic and convenience features it offers.
By product, the market segments into tubes, cans, jars, pouches, bottles, and others.
By application, the market comprises fragrances, skin care, cosmetics, bath & shower, and others. Over the years, a considerable rise has been noticed in the cosmetic industry, one which will have a positive impact over the global personal care packaging market.
The global personal care packaging market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
The Asia Pacific region leads the global personal care packaging market. The regional market is expected to remain in the lead over the forecast period as well. The expanding range of product in personal care based on e-retailing and affordability are majorly pushing the need for packaging in the industry. Due to the increasing disposable incomes of consumers, they have increased their spending on premium quality personal care products. Add to this, the increasing percentage of manufacturing facilities for personal care goods and items in the Asia Pacific region is also pushing the growth of the market.
Elsewhere, the European regional market is projected to grow during the forecast period with the highest CAGR. In Europe, the personal care products industry is witnessing heavy investments on R&D activities. Increasing R&D activities is making companies lay focus on manufacturing products in accordance to the gender, age, ethnicity, geography and climate, health, wellbeing, and lifestyle of individuals. This is stimulating a positive growth in the European personal care packaging market.
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TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
About Market Research Future
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