New York, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Perfume Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Perfume Packaging Market Information Report by Perfume Type (Organic Perfumes and Synthetic Perfumes), by Packaging Material (Glass, Plastic, Metal and Paper) and By Region - Global Forecast To 2030”, the market is expected to grow at a CAGR of 5.9% during the forecast period (2022-2030).
Eminent industry players profiled in the global perfume packaging market report include –
- E. I. du Pont de Nemours and Company (U.S.)
- Amcor Limited (Australia)
- SGB Packaging (U.S.)
- Cosmetics & Perfume Filling & Packaging, Inc (U.S.)
- AptarGroup, Inc. (U.S.)
- Gerresheimer AG (Germany)
- B.I. Packaging (China)
- Albéa Group (france)
- Guangzhou Jiaming Perfume Packaging Co. ltd. (China)
- Mei Yu Packaging (HK) Industrial Co., Ltd. (China)
- Arexim Packaging (Poland).
- Among others.
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The global perfume packaging market is both fragmented & also competitive for the presence of numerous international and also domestic industry players. Such key players have incorporated various innovative strategies for remaining at the vanguard and also catering to the burgeoning need of the esteemed clients including, partnerships, contracts, collaborations, new product launches, geographic expansions, joint ventures, and more. Besides, they are also investing in numerous research & development activities.
Popularity of E-Retailing to Boost Perfume Packaging Market Growth
Market Analysis
The global perfume packaging market will grow at a 5.9% CAGR by 2030, states the latest Market Research Future report.
Drivers
Popularity of E-Retailing to Boost Market Growth
The growing popularity of e-retailing will boost market growth over the forecast period. E-retailing facilitates the accessibility of foreign and local brands via online portals. The leading players of perfume packaging are collaborating with top e-commerce players or possess their own e-commerce websites to seize utmost perks of e-commerce potential.
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Opportunities
Rise in Per Capita Income to offer Robust Opportunities
The rise in per capita income and increase in consumer spending on luxury grooming products will offer robust opportunities for the perfume packaging market over the forecast period.
Besides, the growing trend of utilizing different perfumes on various occasions, the ever-changing trends of fragrances, various perfumes being made available with essential oils or low concentration of fragrance like eau de cologne and eau fraiche are also adding market growth. Also, the younger generation is highly apprehensive of personal grooming and thus inclined towards experimenting new products and brands with the intention of creating their style statement. Thus it provides the perfume manufacturers the chance of customizing and introducing variety in their perfumes which is boosting market growth.
Restraints and Challenges
Rising Commercialization of Perfume Imitations to act as Market Restraint
The rising commercialization of perfume imitations may act as a market restraint over the forecast period.
Market Segmentation
The global perfume packaging market has been bifurcated based on type and material.
By perfume type, the organic perfumes will lead the market over the forecast period for the increase in health conscious consumers. Organic perfumes are created with 100% naturally sourced ingredients generally plant-based and extracted sans chemical intervention.
By packaging material, glass will dominate the market over the forecast period. Features such as non-porous and impermeable make it chemically inert with the perfumes chemical composition. Thus, it is preferred by several companies for packing perfumes.
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COVID-19 Analysis
The need for perfume and cosmetic packaging decreased in 2020 for the low demand from various industries like personal care & packaging for the government imposed lockdowns in several countries. The crisis is likely to impact the cosmetic packaging industry negatively due to halted manufacturing and huge fall in demand for non-essential and luxury services globally. The crisis possessed a mixed effect on the packaging industry for the closure of physical retail stores globally. The accessibility of online retailing however has absorbed the high impact of the shutdown. The need of E-commerce specific packaging is expected to stay strong though the ecommerce companies need to focus to protect goods and also sanitization of packages. Besides, the food packaging sector is on the frontline within the packaging market for the need for essential products like fresh food and groceries chiefly from local e-retail sites. Bulk packaging, industrial, and transportation have experienced a sharp fall, for the fall in need for non-essential goods during 2020. For the low disposable income of the majority of the population and less demand for packaging from industrial goods, the packaging industry may face huge pressure of reduction in both retail costs and wholesale. Consumers are predicted to remain hesitant for consuming luxury products, hospitality services and travel that may hinder market growth.
Regional Analysis
North America to Have Pole Position in Perfume Packaging Market
North America will have pole position in the perfume packaging market over the forecast period. Luxurious living in the region, consumers spending more in foreign regions compared to local spending on luxury products, strong currency rates, and rising disposable income are adding to the global perfume packaging market growth in the region.
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APAC to Have Admirable Growth in Perfume Packaging Market
The APAC region will have admirable growth in the perfume packaging market over the forecast period. Steady growth of the economy, people’s increased disposable income that encourages them to buy new products, increasing adoption in Japan and China, growing need for luxury goods, rise in disposable income, and strong currency rates are adding to the global perfume packaging market growth in the region.
Key Players
Segmentation of Market covered in the research:
Perfume Packaging Market Information Report by Perfume Type (Organic Perfumes and Synthetic Perfumes), by Packaging Material (Glass, Plastic, Metal and Paper) and By Region - Global Forecast To 2030
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: Significant Value |
| CAGR | CAGR of 5.9% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Perfume Type, Packaging Material |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | E. I. du Pont de Nemours and Company (U.S.), Amcor Limited (Australia), SGB Packaging (U.S.), Cosmetics & Perfume Filling & Packaging, Inc (U.S.), , AptarGroup, Inc. (U.S.), Gerresheimer AG (Germany), B.I. Packaging (China), Albéa Group (france), Guangzhou Jiaming Perfume Packaging Co. ltd. (China), Mei Yu Packaging (HK) Industrial Co., Ltd. (U.S.), and Arexim Packaging (Poland) |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers |
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
