PERSONAL CARE PACKAGING MARKET ANALYSIS

Personal Care Packaging MarketSize and Trends

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).

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

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

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.

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.