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Press Release: Personal Care Packaging Market to reach around US$ 36,088.0 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Personal care packaging is materials used for the packaging of personal care products in order to protect it from contamination and other damages. These materials include plastic, flexible packaging, paperboard, glass, and metals. Some of the advanced packaging’s comprise of pen type, pumps, sprays, sticks, and rollers balls. In terms of aesthetic value and lightweight property flexible packaging is gaining huge demand across the personal care packaging industry. Also, small packaged products are gaining huge demand across consumers due to their ease of use and handling during traveling.
The global personal care packaging market is projected to reach around US$ 36,088.0 million by the end of 2027, in terms of revenue, growing at CAGR of 4.3% during the forecast period (2020-2027).
Drivers:
Continuous product design and innovation are expected to propel the market growth of the personal care packaging. Various producers are focusing on product innovation and design in order to differentiate their product offerings. Moreover, rising need to innovate packaging design to match up the ongoing trend in the market and to increase the consumer base is expected to augment the market growth of the personal care packaging.
Increasing investment by the government on R &D in order to develop advanced technologies for manufacturing efficient packaging systems is expected to propel the market growth. Growing demand for eco-friendly packaging products coupled with the rising preferences of intelligent packaging systems such as stand-up pouches is also projected to propel the market growth of the personal care packaging over the forecast period.
Figure 1. Global Personal Care Packaging Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global personal care packaging market in 2019, accounting for 55.5% share in terms of value, followed by Europe and North America, respectively.
Market Restraints
The volatile price of raw materials used in the manufacturing of packaging products is expected to restrict the market growth of personal care packaging. Plastic packaging products are produced from crude oil and the gap in the demand and supply of crude due to economic factors affect the overall price of the raw materials. Thus, the fluctuating price of raw materials is expected to restrict market growth over the forecast period.
Market Opportunities
The growing popularity of male grooming products due to a rising sense of fashion is expected to offer potential growth opportunities to the market of personal care packaging. Rising demand for anti-aging cosmetic products coupled with the growing awareness regarding beauty among consumers is also expected to augment the market growth.
Shifting preferences of consumers towards health and hygiene is encouraging them to use shower gels, body washes, and liquid soap is expected to propel the market growth of personal care packaging. Growing demand for deodorants and hair sprays among consumers across the developing region is expected to augment demand for aerosol can. This is further projected to fuel the market growth of the personal care packaging over the forecast period.
Figure 2. Global Personal Care Packaging Market– Opportunity Analysis
Market Trends
Growing oral hygiene among consumers is creating demand for oral care products which is expected to augment the market growth of personal care packaging. Rising demand for small-sized packaging due to ease of use and convenience at handling is also expected to foster the market growth of personal care packaging. Moreover, growth in the packaging industry due to economic development is further anticipated to augment market growth.
Figure 3. Global Personal Care Packaging Market Share (%) in terms of Value, By Application, in 2019
On the basis of application in 2019, the skin care segment has accounted the largest market share of 38.3% in terms of value, followed by on hair care and bath & shower respectively. Rising prevalence of skin diseases results in increasing demand for skin care products globally, owing to its benefits such as nutrition provided by the products to the skin and skin protection provided by sunscreen lotions from harmful UV-radiations, thus helping in the prevention of skin diseases and skin cancer
Personal Care Packaging Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus outbreak is expected to have impact on employment and consumer spending. Customers are expected to spend less on premium & luxury cosmetic products which will lead decreasing demand for these products. This is expected to decrease the demand for packaging from personal care industry. However, demand for essential products such as hand sanitizers, liquid hand soaps, shampoos, deodorants is expected to increase owing increasing awareness regarding personal hygiene. This is expected to drive demand for packaging from these sectors. Companies operating in personal care industry are focusing on launching essential products such as hand sanitizers owing to increasing demand for such products. For instance, in May 2020, Maison 21G (Singapore based perfume company) launched four alcohol based hand sanitizers designed to protect and comfort, in response to coronavirus outbreak. This is expected to drive demand for packaging product from these companies.
Competitive Section:
Company Names
Few Recent Developments
Albea Group
Personal care packaging is materials used for the packaging of personal care products in order to protect it from contamination and other damages. These materials include plastic, flexible packaging, paperboard, glass, and metals. Some of the advanced packaging’s comprise of pen type, pumps, sprays, sticks, and rollers balls. In terms of aesthetic value and lightweight property flexible packaging is gaining huge demand across the personal care packaging industry. Also, small packaged products are gaining huge demand across consumers due to their ease of use and handling during traveling.
Market Dynamics
The growing use of paper-based tubes for packaging of personal care products is expected to be a major trend in the market and this is expected to fuel the market growth. For instance, in October 2019, L’Oréal announced the launch of the first paper-based cosmetic tube in collaboration with Albéa, a cosmetic packaging company. The rising launch of such an innovative packaging solution will favor market growth over the forecast timeframe.
Strong growth in the cosmetic industry due to the rising demand for cosmetic product and increasing purchasing power of the consumer is expected to augment the market growth of personal care packaging. Moreover, the increasing number of working women across developed and developing regions is further expected to foster the market growth of personal care packaging.
A concern associated with the hazardous effect of plastic packaging products to the environment is expected to restrict the market growth of the personal care packaging. However, manufacturers are introducing bio plastic in order to deal with this situation.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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