Zion Market Research has published a new report titled “Personal Care Packaging Market By Product (Flexible Packaging, Rigid Plastics, Paper, Glass, Metal, and Others), By Application (Skin Care, Haircare, Bath & Shower, Cosmetics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024.” According to the report, the global personal care packaging market accounted for USD 25.95 billion in 2016 and is expected to reach USD 38.05 billion by 2024, growing at a CAGR of around 4.9% between 2018 and 2024.
The personal care packaging market across the world is expected to witness significant growth over the forecast period on account of increasing rising usage of cosmetic and beauty products along with advancement in packaging technology. Personal care packaging plays an important role in the product marketing as it adds to the visual appeal and displays relevant information regarding the product. Growing disposable income and frequent demand for personal care products are further expected to drive the global personal care packaging market within the forecast period. Furthermore, the increasing awareness about the skin-related health hazards is expected to aid the growth of this industry. However, stringent government regulations and testing procedures increase the cost of the products. This could restrain the growth of personal care packaging market over the years.
Rigid plastics segment dominated the personal care packaging market with over 35% share of total volume consumption in 2015. The rigid plastics are non-corrosive, light, and cheap. The flexible plastic is another leading segment. The paper segment is predicted to experience significant growth over the forecast period due to rising environmental awareness levels among people.
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Skincare application accounted for major revenue share in 2017. This growth is attributed due to increasing demand from the young population for skin care products. Skin care products take care of the skin by cleansing, protecting, maintaining, and improving skin condition.
In terms of geography, North America was the largest market for personal care packaging in the world due to the robust manufacturing of cosmetic manufacturers such as Unilever, Johnson & Johnson and Procter & Gamble in the U.S. Moreover, personal care packaging market has huge opportunity in the emerging markets of BRIC (Brazil, Russia, India, and China) countries due to increasing urbanization and high disposable income in this region.
Some of the major players in personal care packaging market include Amcor, Ardagh Group, Colgate-Palmolive Company, Gerresheimer, ITC, Mondi Plc, Procter & Gamble, Saint-Gobain, and Sonoco Products Company, among others.