Personal Care Packaging Market growing at a CAGR of 10.7% from 2023 to 2030
The global personal care packaging market size was valued at USD 36.20 billion in 2022 and is projected to reach USD 79.14 billion by 2030, growing at a CAGR of 10.7% from 2023 to 2030. Increasing focus on improving the aesthetic design of personal care products to attract consumers is expected to drive demand.
Key Market Trends & Insights
- Asia Pacific dominated the personal care packaging market and accounted for the largest revenue share of 40.7% in 2022.
- By application, the skin care segment accounted for the largest revenue share of 33.1% in 2022.
- By packaging type, the bottles segment accounted for the largest revenue share of 30.2% in 2022.
- By product, the flexible segment accounted for the largest revenue share of 42.3% in 2022.
Market Size & Forecast
- 2022 Market Size: USD 36.20 Billion
- 2030 Projected Market Size: USD 79.14 Billion
- CAGR (2023-2030): 10.7%
- Asia Pacific: Largest market in 2022
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Increasing consumer awareness towards sustainable and compact durable product packing solutions is expected to have a positive impact on market growth. Surging demand for hair care and skin care products on account of increasing consumer awareness toward healthy lifestyle habits is expected to fuel industry expansion. Rising consumption of perfumes, aftershaves, and nail paints is expected to fuel demand. Rapid industrialization leading to the establishment of numerous cosmetic manufacturing units particularly in India and China is expected to stimulate industry growth over the next seven years.
Technological innovations aimed at improving the manufacturing process of flexible packaging to minimize raw material consumption and lower energy costs are expected to promote industry expansion over the forecast period. However, volatile raw material prices of HDPE and PP are expected to hinder growth over the next seven years.
Increasing R&D investments, growing utilization of bioplastics along ongoing product development to improve packaging performance are expected to open new avenues over the forecast period.
Application Insights
The skin care segment accounted for the largest revenue share of 33.1% in 2022 and is expected to grow at the fastest CAGR of 11.3% during the forecast period. On account of growing awareness regarding beauty, increasing consumer concerns regarding the harmful effects of pollution and global warming. Also, increasing preference among male consumers for skin care products along with high requirements of anti-aging creams will propel growth.
The bath & shower was a prominent segment accounting for 19.3% of the market share in 2022 and is expected to witness a rise owing to increasing awareness about health and hygiene among consumers, particularly in the Middle East and Asia Pacific. Also, an increasing shift towards the use of body washes, shower gels, bars, and liquid soaps will drive growth. Moreover, superior antibacterial properties in soaps will create immense industry potential over the forecast period.
Personal Care Packaging Market Report Scope
|
Report Attribute |
Details |
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Market size value in 2023 |
USD 38.78 billion |
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Revenue forecast in 2030 |
USD 79.14 billion |
|
Growth Rate |
CAGR of 10.7% from 2023 to 2030 |
|
Base year for estimation |
2022 |
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Historical data |
2018 – 2021 |
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Forecast period |
2023 – 2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Application, product, packaging type, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; MEA |
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Country scope |
U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Thailand; Indonesia; Malaysia; Australia; Brazil; Argentina; Saudi Arabia; South Africa |
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Key companies profiled |
Amcor plc; Mondi ; Sonoco Products Company; Albea Group; Ardagh Group S.A.; Ampac Holding ; Crown; ITC; WestRock Company |
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Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
