The Beauty and Personal Care Packaging Market will reach a final market value worth USD 35.47 billion and is expected to exhibit a significant CAGR of 6.8% during the forecast period 2022-2030
During the historic forecast period that ended in 2019, the beauty and personal care packaging market size was valued at a global market size worth USD 27.31 billion. For the ongoing forecast period of 2022 to 2030, the experts suggest that the market is likely to attain a global CAGR of 4.66% and hence by the end of the period in 2030, the market will reach a final market value worth USD 35.47 billion.
The arrival of the pandemic in the form of waves and cycles is what has been the most disrupting part. Future planning is at stake and the beauty and personal care packaging market must plan as per the contingencies and take a higher degree of risk as the pandemic unfolds in various global regions across the world. There has been a major issue in maintaining a proper market cut-off and equilibrium amongst the market forces of demand and supply as there is an unavailability of resources and raw materials. The availability is minimal but that same is affected by the less availability of skilled labor that will impact the production scales and optimal use of the market assets, as well. The manufacturing and production units have been the most affected as there has been a decline in demand and the resource crunch is affecting their ability to meet a proper supply chain mechanism in the global market during the forecast period that will be ending in 2030.
The global beauty and personal care packaging market needs to be functioning properly to cover the losses that have been incurred due to the arrival of the pandemic. The global governments are lifting the strict restrictions and increasing their investment in the research and development departments and coming up with new product and service lines that will help in providing better and qualitative options to the target audience which will help in enhancing the chances of the market and grow at a good pace during the forecast period.
There has been a huge growth in the competition amongst the market players that will help in catering to the demand of the market during the forecast period. The market players are as follows:
There has been an increase in the level of disposable income of people that are acting as a major driving force for the beauty and personal care packaging market during the current forecast period ending in 2028. There has been an increase in innovations in technology and innovative product and service launches that will help in resulting in the protection of product contents followed by the enhancement of the shelf-life products. This results in an increased demand for the products, reduction in carbon footprint, growth of the cosmetics industry, followed by continuously changing lifestyle changes and patterns. The emerging countries are undergoing rapid urbanization along with the rise in consumption of products that promise good results will help the market to grow at a good rate during the forecast period that will be ending in 2028.
But, the global beauty and personal care packaging market is witnessing a rapid rise in fluctuations and vulnerabilities regarding the raw material prices that are a mandatory component in the whole packaging process. Also, there has been a substantial rise in the development of deep concerns regarding the recycling of products with regards to the raw materials that are being used for the packaging methods. These are likely to act as major market restraints and thus, challenge the market from growing during the forecast period that ends in 2030.
There has been a substantial rise in the demand for beauty products and cosmetics along with the rise of packaging advancement technology that is giving rise to the demand for flexible and lightweight packaging systems. These factors show positive attributes in store for the market during the forecast period that ends in 2030. Moreover, the market has an advantage of rising in the untapped geographical regions across the globe followed by the continuous use of environmentally friendly packaging that makes use of natural ingredients and recycling processes that will create excellent opportunities for the market in the upcoming period.
Based on the rising beauty and personal care packaging market value, the market report highlights the basis of the market segments. The market has been segmented to meet the rising needs of the target audience that is spread in various locations across the globe. The market has been segmented based on the following factors:
The market deals in various kinds of materials like plastic, metal, glass, and paper.
The packaging type segment of the market includes plastic bottles and containers, glass bottles, and containers, and others like metal containers, folding cartons, corrugated boxes, flexible plastic packaging, tubes, sticks, caps, closures, pumps, and dispensers, amongst other materials that are used by the global market players.
The market deals in a series of products that help in the maintenance of oral health, care, and hygiene along with hair care, deodorants, skincare, color cosmetics, men’s grooming, and other product types.
Based on the distribution of the global market audience, the resources, and the raw material available for production, the market is currently functional in 5 major regions namely the APAC region, the North American region, Europe, the Middle East, and Africa. The North American market is expected to dominate the global market growth during the forecast period that ends in 2030. The US market is leading the cosmetics and personal care products followed by the fragrances market. Based on a study that has been commissioned by the Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry, in 2018, the US country is home to the most valuable cosmetics and the industry has high chances of mushrooming during the forecast period ending in 2030. The market is expected to generate a global market revenue worth USD 89.5 billion.
The beauty and personal care packaging market report discusses the market factors that will help the market to grow. By understanding the market analysis, the market investors and buyers can make decisions and investments in the market during the forecast period that will be ending in 2028. The market report discusses the rising competitive degree amongst the market by highlighting the recent developments undertaken by the players in the global market.
|CAGR||4.66% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Materials , Product , Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Limited (Australia), WestRock Company (U.S.), Saint-Gobain S.A.(France)., Bemis Company, Inc. (U.S.)., Mondi Group (Austria), Sonoco Products Company (U.S.), Albéa Services S.A.S.(France), Gerresheimer AG (Germany), Ampac Holdings, LLC (U.S.), AptarGroup (U.S.), Ardagh Group (Luxembourg), and HCT Packaging Inc.( U.S. )|
|Key Market Opportunities||
|Key Market Drivers||
The beauty and personal care packaging market are likely to capitalize on the growth of the personal care industry.
The material based segments of the beauty and personal care packaging market are plastic, metal, glass, and others.
The product-based segments of the beauty and personal care packaging market are bottles, pouches, cans, jars, tubes, and others.
By application, the segments of the beauty and personal care packaging market profiled are haircare, skincare, fragrances, cosmetics, and others.
The key participants operating in the beauty and personal care packaging market are Amcor Limited (Australia), Saint-Gobain S.(France)., WestRock Company (U.S.), Bemis Company, Inc. (U.S.)., Ardagh Group (Luxembourg), Sonoco Products Company (U.S.), Mondi Group (Austria), Albéa Services S.S.(France), Ampac Holdings, LLC (U.S.), Gerresheimer AG (Germany), AptarGroup (U.S.), and HCT Packaging Inc. (U.S.).
The market is likely to attain a global CAGR of 4.66% by the end of 2030.