Luton, Bedfordshire, United Kingdom, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fragrance Packaging market.
The global fragrance packaging market was valued at USD 8.08 billion in 2021 and is projected to reach a valuation of USD 12.32 billion by 2029, registering a CAGR of 4.95% during the forecast period of 2022 to 2029.
Fragrances are a way of expressing personal style and individuality which makes it a consumer driven industry. The growing trend of wearing perfumes is thus driving the fragrance packaging market. This market is largely governed by fickle and ever-changing trends. Fragrances have become the most important part of personal grooming products, almost making it an extension of one’s nature and personality.
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Fragrance Packaging Market to Witness Promising Growth Owing to Rising Inclination towards Standard Living
Perfumes have established themselves as a style statement, defining a person’s individuality, style, personality, and nature. The growing trend of using various perfumes as per the needs of occasions is promoting the growth of the global fragrance packaging market. The increasing demand for perfumes has further propelled the need for packaging, thereby aiding in expansion of this market.
Some of the recent developments in the market:
- In May 2022, Gerresheimer AG announced the expansion of its production capacities by establishing a new state-of-art facility in India for manufacturing glass and plastic containers.
- In March 2021, Stoelzle Glass Group announced the acquisition of a glass Company named Anchor Hocking Glass Company in Pennsylvania which will help the company to expand its footprint in the North American region.
The improved visual allure of fragrances has likewise prompted their prevalence among the majority, along these lines supporting the Fragrance Packaging Market development. What's more, broad utilization of aromas as blessing things and appeal for extravagance great has spiked the worldwide fragrance packaging market's development.
North America to Witness Growth as Developing Economies become Key Consumers
North American growth, on the other hand, is expected to be modest throughout the predicted period. As perfume sales grow in developing nations like as India and China, Asia Pacific is expected to create attractive potential for the whole industry.
Rapidly changing lifestyle of people has prompted an increment in the attention on prepping items, particularly in the more youthful age. This has assumed a noticeable part in increasing the development of the fragrance packaging market. Additionally, movement economies prompting an increment in the purchasing power of consumer, further attributed to their increasing disposable incomes has added to the market's development.
Fragrance Packaging Market Report Scope
| Report Attribute | Details |
| Market size value in 2021 | USD 8.08 billion |
| Revenue forecast in 2029 | USD 12.32 billion |
| Growth rate | CAGR of 4.95% from 2022 to 2029 |
| Base year for estimation | 2020 |
| Historical data | 2017 - 2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million/billion, and CAGR from 2022 to 2029 |
| Report coverage | Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Russia & CIS Countries; Benelux; Turkey; Spain; Switzerland; Sweden; Poland; Austria; Norway; Denmark; Finland; Portugal; Czech Republic (CZ); Slovenia; China; India; Japan; Thailand; Brazil; Argentina; Saudi Arabia; South Africa |
| Key companies profiled | Gerresheimer AG, Swallowfield, Saverglass sas, ALBEA, IntraPac International, Piramal Glass Private Limited, Quadpack, Alción, CCL Container, Coverpla, Exal Corporation, General Converting Inc., Glaspray Engineering & Manufacturing Co. |
| Customization scope | Report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Major Players Prioritize Collaboration to Tap into Markets
The incorporation of strong fragrances, oils, and other materials is expected to attract consumer demand. Additionally, rising demand for waterless scent is expected to surge the product demand. These factors are likely to propel market progress.
Gerresheimer AG, Swallowfield, Saverglass sas, ALBEA, IntraPac International, Piramal Glass Private Limited, Quadpack, Alción, CCL Container, Coverpla, Exal Corporation, General Converting Inc., Glaspray Engineering & Manufacturing Co. are the key players in the fragrance packaging market. E
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Key Market Segments: Fragrance Packaging Market
Fragrance Packaging Market by Material Type, 2020-2029, (USD Million)
- Metal
- Glass
- Paperboard
- Plastic
Fragrance Packaging Market by Capacity, 2020-2029, (USD Million)
- Below 100 ml
- Above 100 ml
Fragrance Packaging Market by Packaging Type, 2020-2029, (USD Million)
- Primary
- Roll ONS
- Bottles
- Others
Fragrance Packaging Market by Region, 2020-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Popularity of E-Retailing to Boost Fragrance Packaging Market Growth
Drivers
Popularity of E-Retailing to Boost Market Growth
The growing popularity of e-retailing will boost Fragrance Packaging Market growth over the forecast period. E-retailing facilitates the accessibility of foreign and local brands via online portals. The leading players of Fragrance Packaging are collaborating with top e-commerce players or possess their own e-commerce websites to seize utmost perks of e-commerce potential.
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 Fragrance 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 Fragrance Packaging 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.
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