Consumer Goods

Personal Care Packaging Market is Expected to Reach USD 37.90 Billion by 2031

Apr 2024

Consumer Goods

As per the report published by Kings Research, the global Personal Care Packaging Market was valued at USD 25.93 billion in 2023 and is projected to reach USD 37.90 billion by 2031, growing at a CAGR of 4.93% from 2024 to 2031.

The personal care packaging market is undergoing a profound transformation fueled by shifting consumer preferences and technological advancements. One of the predominant trends driving this transformation is the increasing demand for personalized and experiential packaging solutions. Consumers are seeking packaging designs that resonate with their individual identities and preferences, driving innovation in customization and personalization capabilities. Moreover, the rise of e-commerce is reshaping distribution channels and packaging requirements. With a growing number of consumers purchasing personal care products online, packaging must not only ensure product protection during transit but also provide a memorable unboxing experience. Consequently, there is a rising emphasis on packaging design that enhances brand perception and fosters customer loyalty in the digital realm.

Sustainability has emerged as a critical consideration in shaping packaging design and material choices. Consumers are increasingly prioritizing environmentally friendly options, leading to a surge in demand for recyclable, biodegradable, and compostable packaging materials. This shift towards sustainability is not only driven by consumer preferences but also by regulatory mandates and corporate sustainability initiatives.

Furthermore, advancements in packaging technologies, such as 3D printing and nanotechnology, are unlocking new possibilities for design innovation and functionality. From intricate shapes and textures to antimicrobial coatings, these technologies are enabling personal care brands to differentiate their products and enhance user experience.

Key Insights

  • Based on material, the plastics segment held the largest market share of 33.15% in 2023
  • Based on product type, the bottles & jars segment generated the highest revenue of USD 12.56 billion in 2023
  • Based on application, skin care classification is anticipated to generate a value of USD 10.56 billion by 2031
  • On the basis of region, Europe is likely to experience a significant CAGR of 5.22% over 2024-2031

Amcor Completes Acquisition of Phoenix Flexibles to Expand Its Business Portfolio in India

August 2023: Amcor, a global leader in the development and production of responsible packaging solutions, announced its agreement to acquire Phoenix Flexibles, thereby expanding Amcor’s capacity in the high-growth Indian market. The acquisition aims to strengthen the company’s presence in emerging economies.

Developments in Packaging Technology Coupled with Sustainability Initiatives to Drive personal care packaging Market Growth

Rapid advancements in packaging technologies are revolutionizing the personal care packaging market, enabling greater customization, functionality, and consumer engagement. Innovations such as smart packaging, which incorporate features such as RFID tags and QR codes, enhance product traceability, authenticity verification, and consumer interaction. Additionally, developments in materials science, including the use of bioplastics and nanotechnology, are expanding the possibilities for sustainable packaging solutions with improved barrier properties and durability. These technological advancements address consumer demands for convenience and product differentiation while also optimizing supply chain efficiency and reducing environmental impact. As a result, personal care brands are increasingly investing in research and development to utilize these technologies, thereby driving market growth and competitive advantage.

Changing demographics and lifestyle trends are influencing consumer behavior and driving demand for personalized and specialized personal care products. For instance, the aging population and increasing diversity in consumer demographics are creating promising opportunities for niche products targeting specific age groups, ethnicities, or gender identities. Additionally, the evolving consumer preferences for wellness and self-care are fueling demand for natural and organic products, along with customizable formulations that cater to individual needs. Personal care brands that can anticipate and cater to these demographic and lifestyle shifts through innovative packaging and product offerings are poised to increase their market share and enhance brand relevance. By utilizing consumer insights and market segmentation, companies can develop packaging strategies that resonate with target audiences and drive long-term growth in the competitive personal care market.

Europe Accounted for a Substantial Share of 22.63% in 2023 Due to Implementation of Stringent Sustainability Initiatives

The Europe personal care packaging market is anticipated to experience a significant CAGR of 5.22% over 2024-2031. The region represents a mature and sophisticated market for personal care packaging, mainly propelled by stringent regulatory standards, growing environmental consciousness, and a strong emphasis on premiumization. The region's affluent consumer base, coupled with a well-established retail infrastructure and a penchant for luxury and sustainable products, drives demand for high-quality packaging solutions. Sustainability has become a key focus area for both European consumers and policymakers, leading to increased adoption of recyclable materials, biodegradable plastics, and circular economy principles in packaging design and manufacturing. Regulatory frameworks such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and the EU Packaging and Packaging Waste Directive influence product development and market strategies. Furthermore, Europe's diverse cultural landscape and consumer preferences necessitate tailored approaches to packaging design, branding, and marketing strategies. To thrive in the European market, packaging providers must demonstrate commitment to sustainability, innovation, and compliance with regulatory requirements while delivering premium experiences that resonate with discerning consumers.

Market Leaders Concentrate on Collaborations and Acquisitions to Sustain Growth

The global personal care packaging market is fragmented with key players such as Amcor plc, Albea Group, AptarGroup, Inc., Berry Global Inc., Crown, Graham Packaging Company, Greif, Huhtamäki Oyj, Reynolds Packaging, Sonoco Products Company, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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