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The personal care packaging market is projected to grow by USD 3.91 billion with a CAGR of 2%, during the forecast period 2019 to 2024.
This personal care packaging market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the personal care packaging market segmentation by product (plastic, metal, and others) and geography (APAC, North America, Europe, South America, and MEA). The personal care packaging market report also offers information on several market vendors, including Albéa Services SAS, Amcor Plc, AptarGroup Inc., Berry Global Group Inc., DS Smith Plc, Gerresheimer AG, HCP Packaging UK Ltd., Mondi Group, Reynolds Group Holdings Ltd., and Silgan Holdings Inc. among others.
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The research studied the historical data considered for years, with 2019 as the base year, and 2020 as the estimated year.
Key Personal Care Packaging Market Driver
One of the key factors driving growth in the personal care packaging market is the rising global personal care spending. The rising personal care spending is the key reason for the growth of the market. The sales of beauty and personal care products are expected to grow by 60% between 2018 and 2023. The demand for organic and natural beauty products is poised to witness substantial growth in demand during the forecast period. In personal care products, North America and Western Europe are mature markets, Eastern Europe is a developing market, and APAC and South America are emerging markets. Retail shops, original manufacturers' showrooms, and e-commerce are the three-different distribution channels for personal care products. Augmented reality is one of the tools followed by cosmetic providers to increase their market presence. These tools allow end-users to try the products virtually through mobile apps such as Makeup Genius by L'Oréal. All the above-mentioned factors are driving the growth of the global personal care market and the demand for personal care packaging.
Key Personal Care Packaging Market Trend
Key Personal Care Packaging Market Challenge
The environmental concerns related to the use of plastic packaging will be a major challenge for the personal care packaging market during the forecast period. Most personal care product manufacturers prefer plastic packaging as it is cheaper, offers more flexibility in designing the packaging of the product, and retains the quality of the end product for a longer period. However, there are several concerns over the disposal of various polymers used in plastic products, which is affecting the adoption of plastic packaging. Many countries are introducing norms for reducing plastic waste. In January 2018, the UK government announced its plan to eliminate all avoidable plastic waste, including food packaging, by 2042. Many retailers are demanding more efficient and less wasteful packaging, mainly to address secondary packaging waste generated at retail sites. Many of the major brands, such as Aldi Stores Ltd., The Coca-Cola Co., Nestle SA, Unilever Group, Tesco Plc (Tesco), and The Procter & Gamble Co., are undertaking measures to reduce plastic usage. Such initiatives may reduce the use of plastic packaging in personal care products.
This personal care packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal care packaging market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the personal care packaging market encompasses successful business strategies deployed by the key vendors. The personal care packaging market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
3M Co. - This company offers a wide range of industrial and residential water filtration products and solutions.
3M Co. - Through the safety and industrial segment, the company offer a variety of products, including personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarkets, and roofing granules.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain, and parent market of the personal care packaging market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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