Personal Care Packaging Market Analysis Report by 2022 | Comprehensive Study With Key Trends, Major Drivers & Challenges: Million Insights

Personal Care Packaging Market Analysis Report by 2022 | Comprehensive Study With Key Trends, Major Drivers & Challenges: Million Insights

PR Newswire

FELTON, California, April 29, 2020

FELTON, California, April 29, 2020 /PRNewswire/ -- 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.

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.

Browse 126 page research report with TOC on "Global Personal Care Packaging Market" at: https://www.millioninsights.com/industry-reports/personal-care-packaging-market

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