Personal Care Packaging Market to Reach Valuation of $39,585 million by 2022
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:Personal Care Packaging Market Report, published by Allied Market Research, forecast that the global market was valued at $27,895 million in 2015, growing at a CAGR of 5.25% during the forecast period to reach $39,585 million by 2022. In 2015, the flexible packaging product segment accounted for two-fifths of the total share in terms of revenue.
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Changing lifestyle patterns in emerging countries, such as China, India, and Brazil, owing to the rapid economic development and increase in disposable income fueled the growth of personal care packaging market. Technological innovations in packaging designs, such as pumps, sprays, sticks, pen type, and rollers balls boost the growth of the personal care packaging market.
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However, volatility in the prices of raw material such as polypropylene (PP) and high-density polyethylene (HDPE) is expected to hamper the growth of the market. Growing utilization of bioplastics and paper boards along with ongoing product development to improve packaging performance is expected to open new avenues during the forecast period.
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Personal Care Packaging Market Key Findings:
o Asia-Pacific is expected to continue to lead the market during the forecast period, followed by Europe.
o The flexible packaging product segment generated the highest revenue and is projected to grow at a CAGR of 5.63% during the forecast period.
o Skin care is the fastest growing application segment in the personal care packaging market, registering a CAGR of 5.44% during the forecast period.
o LAMEA accounted for approximately one-fifth share of the personal care packaging market in 2015.
o The North American personal care packaging market is anticipated to grow at a CAGR of 5.51% from 2016 to 2022.
Asia-Pacific and Europe collectively contributed approximately three-fourths share of the global personal care packaging market by revenue in 2015. The key players operating in the world personal care packaging market are Mondi, Amcor Limited, Bemis Company, Inc., Ardagh Group, Colgate-Palmolive Company, Gerresheimer, ITC, Saint-Gobain, Sonoco Products Company, Bormioli Rocco Group, and Hindustan National Glass & Industries Ltd.
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