LONDON--(BUSINESS WIRE)--Technavio projects the global personal care packaging market to post a CAGR of close to 6% during the forecast period. The rising global personal care spending is a key driver, which is expected to impact the growth of the market. As of 2016, the average per capita spending on personal care products in the US was around USD 66 dollar per person and is expected to grow around 1.5% annually till 2022. While North America and Western Europe are mature markets, Eastern Europe is a developing market. APAC and South America are emerging markets which experienced the highest year-over-year growth rates in global personal care spending in 2016.
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In this report, Technavio highlights the increasing preference for sustainable packaging techniques as one of the key emerging trends in the global personal care packaging market:
Increasing preference for sustainable packaging techniques
Sustainable and eco-friendly packaging requirements are a leading trend in the global personal care packaging market. In many countries, packaging manufacturers must deal with environmental and sustainability issues. Environmental concerns have led to the adoption of recyclable materials such as recycled paper, bamboo, and recycled glass for packaging.
According to a senior analyst at Technavio for packaging research, “Numerous personal care product manufacturers are demanding eco-friendly packaging materials as it enables them to support environmental sustainability. In addition, sustainable packaging enables consumer goods manufacturers to improve their brand image and reduce their carbon footprint.”
In fact, many manufacturers in the personal care industry have already initiated the adoption of sustainable packaging solutions. For instance, in 2014, Unilever introduced a new packaging technology for Dove body wash bottle. This technology reduces plastic usage by 15% as the middle layer of the bottle is injected with gas bubbles. This reduces the weight of the package, and consequently, lowers carbon emission during transportation. Similarly, L'Oréal is planning to offer 100% improved environment-friendly packaging by 2020.
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Market segmentation and analysis through 2022
This market research report segments the global personal care packaging market based on material type (plastic, metal, and others) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC dominated the global personal care packaging market with a market share of more than 36% followed by the Americas and EMEA. While the market share of the Americas and EMEA is expected to witness a small decrease over the forecast period, the market share of APAC is expected to increase by close to 2%.
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