Prioritization of wellbeing and health goals has prompted eminent changes in the global cosmetics industry. This move in advanced skincare has incited several cosmetic industry players to overhaul their commodity portfolios. This has likewise necessitated powerful packing services that keep up product integrity, while being compact and visually appealing to the eyes of the most selective of customers.
Plastic airless packaging is predicted to be the most demanded material, with market players preferring it because of its high flexibility and affordability. Additionally, plastics such as polypropylene are chemically inert toward acids, solvents, and alkalis, which are some most commonly used chemicals in cosmetic products.
Global Airless Packaging Market: Growth Factors
Surge in demand for prestige goods around the globe has driven the development of the airless packaging market, especially in self-care sector including skincare, hair-care, and cosmetics. The African and Middle-East countries have observed an increase in the demand of hair-care and beauty products in the recent times. Thus, an increase in the demand of personal care products will augment the development of the global airless packaging market. Additionally, urbanization and an increase in income of the people in developing countries have further facilitated the demand for homecare products, which are sold in containers utilizing airless packaging technology.
Factors including the need for advanced packaging and expanded adoption of airless packaging technology augment the market development, as these encourage low wastage of the commodity. Additionally, the shelf-life of the commodity definitely increases with the utilization of airless packaging. Airless packaging assists with the accomplishment of a high departure rate with exact dosing. Accordingly, utilization of high-quality materials including plastics, glass, and dispensing pumps for packaging have significantly improved the quality of the cosmetic commodities.
On the other hand, continuous changes in the prices of crude oil lead to an uncertainty concerning the availability of raw materials at an economical cost. The key raw materials utilized for producing airless packaging jars, bottles, and other containers include PET, PP, and acrylic. These are derived from crude oil. The unanticipated volatility in the costs of raw material has led to an increment in the cost of production as well as the broadening of the demand-supply gap of various resins and polymers over the past years. Volatility in the costs of crude oil is mainly witnessed due to fluctuations in currencies, OPEC (Organization of the Petroleum Exporting Countries) actions, and the global demand & supply gap of crude oil.
Decreasing demand for luxurious commodities because of changing income patterns resulting from the COVID-19 pandemic is predicted to negatively affect the global airless packaging market. Additionally, many personal care companies are utilizing conventional, low-cost packaging instead of airless packaging, and this could potentially hamper the growth of the global airless packaging market.
Global Airless Packaging Market: Segmentation
The global airless packaging market has been segmented based on material, packaging type, dispenser type, and region. By material, the global airless packaging market has been classified into glass, plastic, and others. On the basis of packaging type, the global airless packaging market has been categorized into bags & pouches, bottles & jars, tubes, and others. The global airless packaging market, based on dispenser type, has been bifurcated into dropper, pumps, and twist & clicks.
Global Airless Packaging Market: Regional Analysis
Europe is anticipated to maintain its place as the largest global market for air packaging. This can be attributed to the increasing demand for branded and premium cosmetic commodities, causing the major cosmetic manufacturers to set up their outlets across the prominent nations across the region, boosting growth.
North America is predicted to register a notable development due to the quickly expanding beauty & personal care sector in Mexico and the increasing quantity of working women in the region.
Asia Pacific is anticipated to be the most rapidly developing regional market due to high demand for premium cosmetic commodities and the surging middle-class populations in nations including India, China, Vietnam, and Indonesia. Additionally, the increasing penetration of organized retail sector is opening new doors for premium cosmetic companies, which is predicted to affirmatively impact the market development in the upcoming timeframe.
Global Airless Packaging Market: Competitive Players
The growing popularity of cosmetics is causing several manufacturers to venture into the Asian markets. Eastern Asia, especially India and China, offer notable growth opportunities owing to the large populace and favorable business plans. Some of the noteworthy market players in the global airless packaging market are Albea Beauty Holdings S.A, LUMSON SPA, Aptar Group Inc., WestRock Company, Raepak Ltd., Quadpack Industries, HCP Packaging, and Fusion Packaging.