PERSONAL CARE PACKAGING MARKET ANALYSIS

Personal care packaging is materials used for the packaging of personal care products in order to protect them from contamination and other damages. These materials include plastic, flexible packaging, paperboard, glass, and metals. Some of the advanced packaging comprises pen type, pumps, sprays, sticks, and rollers balls. In terms of aesthetic value and lightweight properties, flexible packaging is gaining huge demand across the personal care packaging industry. Also, small packaged products are gaining huge demand among consumers due to their ease of use and handling during traveling.

The global personal care packaging market is projected to reach around US$ 1,154.5 Billion by the end of 2030, in terms of revenue, growing at CAGR of 7.4 % during the forecast period (2023-2030).

Drivers:

Continues innovation and product development in the sector

Continuous product design and innovation are expected to propel the market growth of personal care packaging. Various producers are focusing on product innovation and design in order to differentiate their product offerings. Moreover, the rising need to innovate packaging design to match the ongoing trend in the market and to increase the consumer base is expected to augment the market growth of personal care packaging.

Increasing Investment in R & D

Increasing investment by the government in R&D in order to develop advanced technologies for manufacturing efficient packaging systems is expected to propel the market growth. Growing demand for eco-friendly packaging products coupled with the rising preferences of intelligent packaging systems such as stand-up pouches is also projected to propel the market growth of personal care packaging over the forecast period. 

Figure 1. Global Personal Care Packaging Market Share (%) in terms of Value, By Region, in 2022  

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Asia Pacific region dominated the global personal care packaging market in 2022, accounting for a 56% share in terms of value, followed by Europe and North America, respectively. This is attributable to the growing number of employed women in countries like India and China and their increasing interest to spend on beauty and care products.

Market Restraints

Fluctuating price of raw material

The volatile price of raw materials used in the manufacturing of packaging products is expected to restrict the market growth of personal care packaging. Plastic packaging products are produced from crude oil and the gap in the demand and supply of crude due to economic factors affect the overall price of the raw materials. Thus, the fluctuating price of raw materials is expected to restrict market growth over the forecast period.

Market Opportunities

• The growing popularity of male grooming products due to a rising sense of fashion is expected to offer potential growth opportunities to the market of personal care packaging. Rising demand for anti-aging cosmetic products coupled with the growing awareness regarding beauty among consumers is also expected to augment the market growth.
• Shifting preferences of consumers towards health and hygiene is encouraging them to use shower gels, body washes, and liquid soap is expected to propel the market growth of personal care packaging. Growing demand for deodorants and hair sprays among consumers across the developing region is expected to augment demand for aerosol cans. This is further projected to fuel the market growth of personal care packaging over the forecast period. 

Market Trends

Growing oral hygiene among consumers is creating demand for oral care products which is expected to augment the market growth of personal care packaging. Rising demand for small-sized packaging due to ease of use and convenience at handling is also expected to foster the market growth of personal care packaging. Moreover, growth in the packaging industry due to economic development is further anticipated to augment market growth.

Figure 2. Global Personal Care Packaging Market Share (%) in terms of Value, By Application, in 2022

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On the basis of application in 2022, the skin care segment has accounted for the largest market share of 38.3% in terms of value, followed by hair care and bath & shower respectively. The rising prevalence of skin diseases results in increasing demand for skin care products globally, owing to their benefits such as nutrition provided by the products to the skin and skin protection provided by sunscreen lotions from harmful UV-radiations, thus helping in the prevention of skin diseases and skin cancer

Personal Care Packaging Market - Impact of Coronavirus (COVID-19) Pandemic

The coronavirus outbreak is expected to have an impact on employment and consumer spending. Customers are expected to spend less on premium & luxury cosmetic products which will lead to decreasing demand for these products. This is expected to decrease the demand for packaging from the personal care industry. However, demand for essential products such as hand sanitizers, liquid hand soaps, shampoos, and deodorants is expected to increase owing to increasing awareness regarding personal hygiene. This is expected to drive demand for packaging from these sectors. Companies operating in the personal care industry are focusing on launching essential products such as hand sanitizers owing to increasing demand for such products. For instance, in May 2020, Maison 21G (Singapore-based Perfume Company) launched four alcohol-based hand sanitizers designed to protect and comfort, in response to the coronavirus outbreak. This is expected to drive demand for packaging products from these companies.

Competitive Section:

Company Names 

1. Albea Group
2. Amcor Ltd
3. Ardagh Group
4. Bemis Company, Inc
5. Bormioli Rocco Spa
6. Gerresheimer
7. Heinz- Glas GmbH
8. Hindustan National Glass & Industries Ltd.
9. ITC
10. Koa Glass Co. Ltd
11. MeadWestvaco Corp
12. Mondi plc
13. Saint-Gobain
14. Sonoco Products Company

Few Recent Developments

• In March 2023, leading market player Quadpack launched Regula, an affordable and convenient mini jar packaging solution for the personal care and cosmetics industry. The glass package is offered in a recycled version with 100% recyclable PET material. Glass packaging is ideal for compact personal care products available in 15-30ml packs 
• In January 2023, South Korea-based company, CJ Biomaterials announced that it had developed the first consumer branding application using a packaging application. This new technology blends his PHA and PLA for packaging solutions, resulting in significantly improved mechanical properties such as toughness and ductility.