pune, India -- (SBWire) -- 05/14/2018 --Market Synopsis
Personal care packaging is done for various products such as cosmetics, shampoos, soaps, body creams, and oil and toiletries. It is packaged in the form of boxes, pumps, bottles and others using various materials, for instance, glass, plastics, paperboard, metal, and others and packaged. Rapid urbanization, changing consumer lifestyle, advancing packaging technology, and rising importance of packaging are attracting the consumer to use packaged products.
The global Personal Care Packaging Market is likely to exceed USD 35.20 billion by 2023. Innovation in the packaging technology coupled with the increasing consumption of beauty & cosmetic products is projected to propel the market during the forecast period. Rising demand for skin & hair products, growing awareness about healthy living are also expected to fuel the market growth. Additionally, high durability coupled with lighter nature providing growth opportunities during the forecasted period. However, strict regulations on the safety of the packaged products hampering the market growth.
Environmental consideration is a prominent part in the personal care sector. Recent trend shows that brand owners are focusing on consumers' demand for environment-friendly products and packaging by using more natural ingredients and recycled packaging. Urbanization, increased beauty sophistication, especially within age ranges, and the growing popularity of male grooming are other growth influencing factors in the global market. Aging population is affecting product functionality and type of packaging such as the use of easy-grip containers.
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Consumers are opting for both smaller and larger pack sizes. The small sized packaged products are easier for consumers to carry. Whereas, oversized beauty and personal care products are popular for daily use items such as shampoos and conditioners where consumers can get greater value for their money by buying in bulk.
Innovation in the packaging is creating exciting opportunities within the packaging industry. Growth in the packaging industries coupled with increasing purchasing power of the consumers are some of the major factors pushing the market growth further. Launches of innovative, value-added new products and focusing on multi-functional, convenient, easy to use, and sustainable resources are some of the major driver of this market.
Key Players
Amcor Ltd., WestRock Company, Saint-Gobain S.A, Bemis Company Inc., Mondi Group, Sonoco Products Company, Albéa Services S.A.S, Gerresheimer AG, Ampac Holdings, LLC and AptarGroup are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Personal Care Packaging Market.
Personal Care Packaging Market– Competitive Analysis
The key players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global personal care packaging market were those of mergers & acquisition, followed by expansion. Mergers & Acquisitions are the key strategies adopted by the players to achieve operational efficiencies and increase the number of offerings to the customer. Expansion is also a major strategy adopted by the major players in the global personal care packaging market to increase the geographical presence of the company and to widen the product offering.
Industry/ Innovation/ Related News:
Apr-2017- Silgan Holdings Inc., a supplier of rigid packaging for consumer goods products, announced that it has completed its acquisition of the dispensing systems business of WestRock Company.
Aug 2016 - Albea S.A. acquired Scandolara Tub-Est s.r.o., a laminate tube producer. This acquisition of the Slovakian manufacturer will enable Albea to further boost its business across Europe.
July 2015- WestRock completed the merger of MeadWestvaco Corporation and Rock-Tenn Company to offer a wide variety of packaging solutions for diverse end markets from food and beverage to personal care and healthcare.
July 2015- Amcor purchased Packaging India from Essel Propack. The deal is expected to provide Packaging India an opportunity to further grow and prosper in the flexible packaging space as part of Amcor. Besides India, the company also caters to overseas countries such as Sri Lanka, Africa and developed markets.
Oct 2015- Amcor Rigid Plastics, manufacturer of rigid plastic packaging for the food, beverage, spirits, personal care, home care, and healthcare industries, showcased its innovative and sustainable plastic packaging for everyday consumer use at the Pack Expo exhibition in Las Vegas, Nev.
Personal Care Packaging Market– Segmentation
The Personal Care Packaging Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Materials - Plastic, Paper, Glass, Metal and others
Segmentation by Product - Bottles, Jars, Cans, Tubes, Pouches, and others
Segmentation by Application - Skin Care, Cosmetics, Fragrances, Bath & Shower and others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
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Personal Care Packaging Market– Regional Analysis
Asia-Pacific accounted for the largest market share in the global personal care packaging market. Factors such as expanding product lines for personal care products based on affordability, e-retailing are driving the need of packaging for personal care products industry. Owing to the increasing disposable income, consumers are expected to increase their spending on premium personal care products. The increase in the number of manufacturing facilities for personal care products in the region, is also driving the growth of the Personal Care Packaging market.
Europe region is also expected to grow with the highest growth rate in the global personal care packaging market. The personal care products industry, in Europe region is making heavy investments into research and development. Through extensive R&D, the companies in the region are focusing on the manufacture of products according to the age, gender, ethnicity, geographies and climate, lifestyle, health and wellbeing, which is driving the personal care packaging market in Europe.
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Personal Care Packaging Market Worth USD 35.20 Bn by 2023 : Global Industry News, Trends, Manufacturers, Suppliers & Traders with Key Companies Analysis
MarketResearchFuture.com added New Report Named “Personal Care Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation, Information By Material (Plastic, Glass, Metal, Others), By Product (Bottles, Jars, Cans, Tubes, Pouches, And Others), Application (Skin Care, Cosmetics, Fragrances, Bath & Shower And Others), And Region | Outlook to 2023” to its Database.