PERSONAL CARE PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

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. 

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.

• 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.