Newark, May 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global airless packaging market is expected to grow from USD 5.89 billion in 2021 to USD 10.02 billion by 2030, at a CAGR of 6.09% during the forecast period 2022-2030.
The international demand for premium cosmetics products such as natural skincare creams, serums, foundations, and others is anticipated to expand the demand for the airless packaging industry during the projection period.
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Further, the increasing awareness about safe & superior-quality food packaging solutions in developing nations is the driving factor of market growth. Moreover, the growing demand for premium range products and reduced wastage of products are also helping to drive the market growth. However, the high initial investment price of airless packing is the restraining factor of the market growth. Furthermore, the rapid technological improvements and rising R&D activities to underestimate the overall production & machinery price are opportunities for market growth. The higher installation prices & frequent maintenance of packaging machines are challenging factors for market growth.
Competitive Strategy
To enhance their market position in the global airless packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in September 2019, Quadpack Industries acquired the patent for the BIBM process for cosmetics packaging and commercial rights.
• For example, in November 2020, East Hill Industries introduced high-end double wall airless bottles. The bottles come in different sizes and colors, and the pump permits localized application and raised shelf life. This product launch has additionallyaided grow the company's revenue & sales.
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Market Growth & Trends
The growth of the airless packaging market is driven by the increasing adoption of strategy among vendors, rising disposable income, and the growing demand for packed & ready-to-eat food helps to drive the market growth. Moreover, the manufacturers' growing focus on introducing innovation in an airless packaging solution is the market growth trend. However, the different product innovations, such as developing sustainable airless packaging solutions fabricated utilizing recyclable materials, also drive the market growth during the forecast period. Furthermore, the shifting preferences of the manufacturer from rigid to flexible airless packaging due to superior properties like extending product shelf life, exceptional barrier properties, convenience at softness, usage, and flexibility also help drive the market growth during the forecast period.
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Key Findings
• In 2021, the plastic material type segment dominated the market with the largest market share of 40.23% and market revenue of 2.36 billion.
The material type segment is divided into glass, plastic, and others. In 2021, the plastic material type segment dominated the market with the largest market share of 40.23% and market revenue of 2.36 billion. This growth is attributed to the improved demand for plastics in packaging solutions in enterprises like food, chemicals, and personal care goods.
• In 2021, the bottle & jars packaging type segment dominated the market with the largest market share of 31.11% and market revenue of 1.83 billion.
The packaging type segment is divided into bottles & jars, tubes, bags & pouches, and others. In 2021, the bottle & jars packaging type segment dominated the market with the largest market share of 31.11% and market revenue of 1.83 billion. Plastic materials are gaining high demand over the different end-user enterprises as plastic provides more prolonged storage life than other packaging materials. This factor helps to drive the market segment's growth. Further, by 2030, the bags & pouches packaging type segment will likely dominate the market due to the rising demand for portable, flexible, and pocket-friendly products.
• In 2021, the personal care end user segment dominated the market with the largest market share of 30.16% and market revenue of 1.77 billion.
The end user segment is divided into healthcare, food & beverages, personal care, and home care. In 2021, the personal care end user segment dominated the market with the largest market share of 30.16% and market revenue of 1.77 billion. Airless or vacuum tubes, bottles & jars, and pouches are utilized in the personal care sector to package semisolid forms like pastes, lotions, ointments, creams, and gels. This factor helps to drive the segment’s growth.
Regional Segment Analysis of the Airless Packaging Market:
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Europe region occurred as the largest market for the global airless packaging industry, with a market share of 45.21% and a market value of around 2.66 billion in 2021. Europe currently dominates the airless packaging market due to the rising demand in personal care enterprises. Additionally, the increasing awareness about eco-friendly products also helps drive the region's market growth. Furthermore, the Asia Pacific region is expected to show the fastest CAGR of 10.02% over the projection period. This growth is attributed to the upsurge in demand in food & beverage enterprises and the rise in income levels. Also, the rising business expansion and the increasing urbanization in emerging economies like China & India are helping to boost the market growth during the forecast period.
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Key players operating in the global airless packaging market are
• ALBEA
• Sonoco Products Company
• O.Berk Company LLC,
• HCT Group,
• Cospack America Corp
• LUMSON SpA
• Silgan Holdings Inc.
• Viva Group
• AptarGroup, Inc.
• Rieke
• FUSIONPKG
• TricorBraun
• East Hill Industries, LLC
• WWP
• Amcor plc
• RPC Group Plc
• HCP Packaging
• Ningbo Gidea Packaging Co., Ltd
• BALL CORPORATION
• RAEPAK LTD
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global airless packaging market based on below mentioned segments:
Global Airless Packaging Market by Material Type:
• Glass
• Plastic
• Others
Global Airless Packaging Market by Packaging Type:
• Bottles & Jars
• Tubes
• Bags & Pouches
• Others
Global Airless Packaging Market by End User:
• Healthcare
• Food & Beverages
• Personal Care
• Home Care
About the report:
The global airless packaging market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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