25-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global personal care packaging market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Unilever, Johnson & Johnson, Saint-Gobain, Amcor, Mondi Plc, Ardagh Group, Colgate-Palmolive Company, Gerresheimer, ITC, and Procter & Gamble are some of the key vendors of personal care packaging across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the personal care packaging market study.
This review is based on a report by Zion Market Research, 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.”- Report at https://www.zionmarketresearch.com/report/personal-care-packaging-market
Citing an instance, PTI has decided to launch Dromo™ - an innovative polyethylene Terephthalate (PET) bottle system developed particularly for liquid or semi-viscous items- on October 14-17 at Pack Expo in Chicago. Reportedly, the new product is anticipated to fit the packaging requirements of personal care products and household chemicals along with other product spectrum.
As estimated in this report, the global personal care packaging market stood at US$ 25.95 billion in 2016. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this market is expected to reach US$ 38.05 billion by the end of the forecast period. The main products available in this personal care packaging market are flexible packaging, rigid plastics, paper, glass, metal, and others. Among them, the demand for rigid plastics is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Humungous Popularity Of Cosmetic & Beauty Products To Vivify Market Growth
“Personal care packaging market is likely to gain traction over the next few years, owing to its massive application in cosmetic & beauty products,” says the author of this study. Apart from this, introduction of new packaging systems has further provided impetus to the growth of personal care packaging market. In addition, beneficial features such as the ability of personal care packaging to add visual appeal and aesthetic value to the product will further enhance the scope of the business. Furthermore, rising disposable income and consistent demand for personal care items is likely to impel the progress of personal care packaging market in the ensuing years.
Strict government legislations and cumbersome testing processes has raised the product costs and this can act as the restraining factor inhibiting the expansion of personal care packaging market size in the foreseeable future.
Massive Awareness About Product Use To Support North America’s Dominance
Regionally, North America has been leading the worldwide personal care packaging market and is anticipated to continue on the dominant position in the years to come, states the personal care packaging market study. Mammoth demand for paper and bio-based flexible packaging is the main factor behind the dominance of the North America personal care packaging market. The presence of reputed cosmetic manufacturers such as Unilever, Johnson & Johnson, and Procter & Gamble in countries such as the U.S. in North America is another significant factor that is supporting the growth of this regional personal care packaging market. In addition, key industry players have been successful in effectively promoting their personal care packaging products through ad campaigns along with creating awareness about the product benefits. This, in turn, has favorably influenced the revenue of personal care packaging market.
The global personal care packaging market is segmented as follows:
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