The global Personal Care Packaging Market size is expected to value at USD 37.25 billion by 2022. The market is subject to witness a substantial growth due to the soaring need for environment friendly and sustainable packaging solutions for cosmetics and personal care products. Robust growth in the personal care & cosmetic industry is attributed to growing awareness about individual health and safety, increasing personal disposable income and improved lifestyle mainly in developed economies.
Shift
in customer preference towards organic cosmetics alongside large-scale
consummation of sustainable products are expanding the market reach of the
personal care packaging in near future. Globally, the personal care packaging
industry is predicted to grow at higher CAGR in the forecast period, providing
numerous opportunities for market players to invest for research and
development in the packaging industry.
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The
recent technological advancement in the personal care & cosmetics industry
coupled with development of advanced packaging solution are anticipated to
boost market growth over the forecast period. In addition, growing
manufacturing sector in South East Asian economies such as Singapore, South
Korea, Taiwan and Malaysia is projected to escalate the growth of personal care
packaging market in upcoming years. Rigid plastic packaging currently holds a
higher market share in the personal care packaging.
Increasing
adoption of the rigid plastic packaging materials is credited to their
lightweight and eco-friendly nature, thus rocketing the demand of rigid plastic
packaging in personal care packaging industry, in the recent years.
Additionally, metal, glass and paper can be easily recycled for multiple use
due to their flexibility. These factors are responsible for enlarged demands of
rigid plastic in the market of personal care packaging. Other factors such as
ease of use, simple operation and cost-effectiveness are complementing the
market demand, in recent years.
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Paper
and glass packaging solutions are gaining traction in personal care packaging
market due to their biodegradable properties. Paper and glass packaging is
ideal substitute for plastics in packaging & manufacturing of personal care
products. These factors are largely influencing the market growth, thus
creating lucrative opportunities for industry players during this period.
Furthermore, increasing consumer awareness about environmental hazards with
excessive use of plastic and complete ban on the use of the lightweight plastic
materials in few countries are expected to amplify the growth of glass and
paper packaging over the forecast period.
The
personal care packaging industry is broadly categorized into four major
segments based on the product type such as skin care, hair care, bath &
shower and fragrances. The skin care is considered as one of the fastest
growing segment in the market of personal care packaging with substantial
revenue generation in the last few years. Growing popularity of the skin care
segment is attributed to the growing consumer awareness and high-end demand
from for skin care products from Asia-Pacific region. The bath & shower
segment has also witnessed substantial growth owing to the growing awareness
about health and hygiene among consumers.
The
personal care packaging market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
packaging sector, increase in the demand for body washes, shower gels, bar and
liquid soaps, and existence of well-established industrial infrastructure in
the region.
Asia-Pacific
region is predicted to hold major market share in the personal care packaging
industry with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with growing demand for
personal care products with lightweight packing, improved living standards,
increasing disposable income, and significant investment by leading industry
players considering potential growth opportunities in the region.
The
key players in the personal care packaging market are Amcor Ltd., Bemis
Company, Inc., Mondi plc, Sonoco Products Company, Albea Group AG, Ardagh Group
S.A., Ampac Holding and Crown Holdings, Inc., ITC Ltd., and WestRock Co.
Market
Segment:
Global
Personal Care Packaging Product Outlook (Revenue, USD Million, 2012 - 2022)
• Flexible
• Rigid plastics
• Paper
• Metal
• Glass
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