The global personal care packaging market
derives much of its growth from the rising demand for personal care products in the global arena. In 2012, the global personal care packaging market stood at US$19.26 billion. Expanding at a positive CAGR of 4.3% during the period from 2013 to 2019, the market is likely to attain US$25.77 billion by 2019.
Flexible Packaging to Dominate Personal Care Packaging Products Market in Future
Flexible packaging, rigid plastics, paper, glass, metal, and other products such as nonwoven fabrics and cardboards are the key components of the global personal care packaging product market. In 2012, the markets for rigid plastics and flexible packaging held a major share of the global market. However in next couple of years the flexible packaging market is likely to dominate the market for personal care packaging across the world.
Skin care, hair care, oral care, bath and shower, wipes, cosmetics, and cotton pads are the major application areas of personal care packaging. Among these, the market for skin care held the leading position in 2012 and it is expected to maintain its dominance in the coming years, rising at a CAGR of 4.3% over the period of 2013-2019.
Asia Pacific Reports Highest Growth in Global Personal Packaging Market
Regionally, the global market for personal care packaging is spread across North America, Europe, Asia Pacific, and the Rest of the World. Among these, Asia Pacific has emerged as the biggest consumer for personal care packaging products. In 2012, the Asia Pacific personal care packaging market acquired the largest share of the overall market, capturing the leading position.
By 2019, the regional market is projected to generate US$14.30 billion, maintaining its dominance between 2013 and 2019. The rise in the demand for cosmetics, hair care products and products associated with male grooming, together with technical advancement and innovation in packaging are likely to fuel the demand for personal care packaging in Asia Pacific.
Apart from this, the steady economic rise in Russia, Brazil, South Africa, and other emerging nations of Asia Pacific is projected to stimulate the demand for personal care products in this region, which in turn, is expected to trigger the demand for personal care packaging. On the other hand, North America and Europe are expected to witness moderate growth in the personal care packaging market in the near future.
Rising Demand for Personal Care Products to Present Opportunity-Rich Market for Participants
The increase in the demand for personal care products in BRIC nations is offering lucrative opportunities for established players as well as new entrants in the global personal care packaging market. However, analysts fear that the increasing number of regulations pertaining to production and packaging of personal care products may hamper the growth of this market in the forthcoming years.
The market for personal care packaging is extremely fragmented due to the presence of an increasing number of market participants. Sonoco Products Co., Saint-Gobain, Mondi, MeadWestvaco Corp., Koa Glass Co. Ltd., ITC, Hindustan National Glass & Industries Ltd., Heinz-Glas, Gerresheimer, Bormioli Rocco, Bemis Co., Ardagh, Amcor Ltd., and Albea are some of the major players operating in the global personal care packaging market.