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Market Size – USD 26.36 Billion in 2020, Market Growth – at a CAGR of 5.3%, Market Trends – Increasing adoption of bio-plastic materials
NEW YORK CITY, NEW YORK, USA, August 1, 2022 /EINPresswire.com/ -- The global personal care packaging market size is expected to reach USD 40.15 Billion in 2028 and register a CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Increasing demand for cosmetic products such as nail paints and perfumes is expected to drive market revenue growth. In addition, increasing focus on attractive appearance of personal care products, emergence of state-of-the-art processes to manufacture flexible packaging, need to reduce consumption of raw materials, and high demand for bio-plastic to improve packaging performance are some other factors expected to drive market revenue growth over the forecast period.
Use of clear and natural personal care packaging materials with detailed decoration is increasing at a fast pace. Silk screens, embossing, and soft-touch are often used to provide consumers with a sense of packaging's superiority and sophisticated decoration. Environmental packaging options such as photochromic self-heating tubes and round paperboard packaging have transformed the cosmetic packaging landscape. This factor is expected to increase revenue growth of the global personal care packaging market. Additionally, establishment of various cosmetics manufacturing companies owing to rapid economic growth is expected to drive market revenue growth.
However, use of plastics for manufacturing packaging items and volatile prices of raw materials required to produce packaging products are factors that could restrain market revenue growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
• Bottles segment is expected to account for largest revenue share in the global market over the forecast period, owing to many benefits of using bottles as cosmetic product packaging such as high tensile strength, versatility, package integrity, and non-reactive with content. • Paper segment is expected to account for considerably large revenue share in the global market during the forecast period. Paper packaging offer various properties such as recyclability, reusability, high mechanical strength, printability, lightweight, and wide availability. In addition, high demand for eco-friendly products is expected to drive revenue growth of this segment in the upcoming years. • Cosmetics segment is expected to account for largest revenue share in the global market during the forecast period. Constantly rising demand for cosmetics, increasing focus of the fashion industry to use online platform in order to increase sales, and rapidly growing e-Commerce sector, especially in developing countries are some of the major factors driving revenue growth of the segment. • North America is expected to account for largest revenue share over the forecast period. The market in Unites States is expected to be contribute major revenue share in North America market, as it is a manufacturing hub of cosmetics and personal grooming products. Additionally, increasing online sales of these products and expansion of e-Commerce channels is expected to drive revenue growth of the market in this region. For instance, Government of U.S. implemented a new norm that necessitates monitoring of every product before these are classified as natural. This regulation is expected to impel companies to enhance brand values and increase sales of products. • Major players in the global market report include Amcor Limited, WestRock Company, Saint-Gobain SA, Bemis Company Inc., Sonoco Products Company, Mondi Group, Albéa Services SAS, Ampac Holdings LLC, Gerresheimer AG, and AptarGroup.
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For the purpose of this report, Reports and Data has segmented the global personal care packaging market based on product type, materials type, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028) • Bottles • Jars • Cans • Tubes • Pouches
Material Type Outlook (Revenue, USD Billion; 2018-2028) • Plastic • Glass • Metal • Paper
Application Outlook (Revenue, USD Billion; 2018-2028) • Skin Care • Oral Care • Hair Care • Cosmetic • Bath & Showers • Others
Regional Outlook (Revenue, USD Billion; 2018-2028) • North America o U.S. o Canada o Mexico • Europe o Germany o U.K. o France o Italy o Spain o Sweden o Benelux o Rest of Europe • Asia Pacific o China o India o Japan o South Korea o Rest of APAC • Latin America o Brazil o Rest of LATAM • Middle East & Africa o Saudi Arabia o U.A.E. o South Africa o Israel o Rest of MEA
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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