Personal care packaging is materials used for the packaging of personal care products in order to protect them from contamination and other damages. These materials include plastic, flexible packaging, paperboard, glass, and metals. Some of the advanced packaging comprises pen type, pumps, sprays, sticks, and rollers balls. In terms of aesthetic value and lightweight properties, flexible packaging is gaining huge demand across the personal care packaging industry. Also, small packaged products are gaining huge demand among consumers due to their ease of use and handling during traveling.
The global personal care packaging market is projected to reach around US$ 1,154.5 Billion by the end of 2030, in terms of revenue, growing at CAGR of 7.4 % during the forecast period (2023-2030).
Continues innovation and product development in the sector
Continuous product design and innovation are expected to propel the market growth of personal care packaging. Various producers are focusing on product innovation and design in order to differentiate their product offerings. Moreover, the rising need to innovate packaging design to match the ongoing trend in the market and to increase the consumer base is expected to augment the market growth of personal care packaging.
Increasing Investment in R & D
Increasing investment by the government in 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 personal care packaging over the forecast period.
Figure 1. Global Personal Care Packaging Market Share (%) in terms of Value, By Region, in 2022
Asia Pacific region dominated the global personal care packaging market in 2022, accounting for a 56% share in terms of value, followed by Europe and North America, respectively. This is attributable to the growing number of employed women in countries like India and China and their increasing interest to spend on beauty and care products.
Fluctuating price of raw material
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.
Personal Care Packaging Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 602.2 Bn|
|Historical Data for:||2018 to 2022||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||8.5%||2030 Value Projection:||US$ 1154.5 Bn|
Albea Group, Amcor Ltd, Ardagh Group, Bemis Company, Inc, Bormioli Rocco Spa, Gerresheimer, Heinz- Glas GmbH, Hindustan National Glass & Industries Ltd., ITC, Koa Glass Co. Ltd, MeadWestvaco Corp, Mondi plc, Saint-Gobain, and Sonoco Products Company
|Restraints & Challenges:||
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 2. Global Personal Care Packaging Market Share (%) in terms of Value, By Application, in 2022
On the basis of application in 2022, the skin care segment has accounted for the largest market share of 38.3% in terms of value, followed by hair care and bath & shower respectively. The rising prevalence of skin diseases results in increasing demand for skin care products globally, owing to their 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 an impact on employment and consumer spending. Customers are expected to spend less on premium & luxury cosmetic products which will lead to decreasing demand for these products. This is expected to decrease the demand for packaging from the personal care industry. However, demand for essential products such as hand sanitizers, liquid hand soaps, shampoos, and deodorants is expected to increase owing to increasing awareness regarding personal hygiene. This is expected to drive demand for packaging from these sectors. Companies operating in the 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 the coronavirus outbreak. This is expected to drive demand for packaging products from these companies.
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