Personal Care Packaging Market Detailed Analysis Of Current Industry Demand with Forecast Growth by 2028
Rising demand for cosmetics & personal grooming products globally, and inclining adoption of clear and natural packaging materials are key factors driving market revenue growth
The personal care packaging market size is expected to reach USD 40.15 Billion in 2028 and register a CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Increasing demand for cosmetic products such as nail paints and perfumes is expected to drive market revenue growth. In addition, increasing focus on attractive appearance of personal care products, emergence of state-of-the-art processes to manufacture flexible packaging, need to reduce consumption of raw materials, and high demand for bio-plastic to improve packaging performance are some other factors expected to drive market revenue growth over the forecast period.
However, use of plastics for manufacturing packaging items and volatile prices of raw materials required to produce packaging products are factors that could restrain market revenue growth to a certain extent over the forecast period.
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Key Players Operating in Global Personal Care Packaging Market:
Albea Group S.A.S., Amcor Plc, Ardagh Group, West Rock, Berry Global Inc., Bemis Company, Inc., Gerresheimer AG, Mondi plc, International Paper, Bormioli Rocco, Heinz- Glas GmbH, Koa Glass Co., Sonoco Products Company, Reynolds Metals Company, MeadWestvaco Corporation, Saint-Gobain, ITC Limited, Hindustan National Glass & Industries Ltd.
Some Key Highlights from the Report:
- Bottles segment is expected to account for largest revenue share in the global market over the forecast period, owing to many benefits of using bottles as cosmetic product packaging such as high tensile strength, versatility, package integrity, and non-reactive with content.
- Paper segment is expected to account for considerably large revenue share in the global market during the forecast period. Paper packaging offer various properties such as recyclability, reusability, high mechanical strength, printability, lightweight, and wide availability. In addition, high demand for eco-friendly products is expected to drive revenue growth of this segment in the upcoming years.
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- Cosmetics segment is expected to account for largest revenue share in the global market during the forecast period. Constantly rising demand for cosmetics, increasing focus of the fashion industry to use online platform in order to increase sales, and rapidly growing e-Commerce sector, especially in developing countries are some of the major factors driving revenue growth of the segment.
- North America is expected to account for largest revenue share over the forecast period. The market in Unites States is expected to be contribute major revenue share in North America market, as it is a manufacturing hub of cosmetics and personal grooming products. Additionally, increasing online sales of these products and expansion of e-Commerce channels is expected to drive revenue growth of the market in this region. For instance, Government of U.S. implemented a new norm that necessitates monitoring of every product before these are classified as natural. This regulation is expected to impel companies to enhance brand values and increase sales of products.
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Influence of the Personal Care Packaging Market report:
Comprehensive assessment of all opportunities and risks in the Personal Care Packaging Market.
Personal Care Packaging Market recent innovations and major events.
A detailed study of business strategies for the growth of the Personal Care Packaging Market market-leading players.
Conclusive study about the growth plot of Personal Care Packaging Market for forthcoming years.
In-depth understanding of Personal Care Packaging Market, market-particular drivers, constraints, and major micro markets.
Favorable impression inside vital technological and market latest trends striking the Personal Care Packaging Market.
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