NEWARK, Del, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The global airless packaging market is predicted to reach a value of US$ 9.0 Bn by 2032, with the market expanding at a moderate CAGR of 4.8% from 2022 to 2032. Scaling up from a value of US$ 5.4 Bn in 2021, the target market is expected to reach an estimated US$ 5.7 Bn by the end of 2022.
High durability, effective barrier-resistance, lightweight nature, and affordability of airless packaging promote the market growth of the same over the forecast period. With immense demand from the cosmetic sector, the airless packaging market will likely expand 1.7x the market value while generating a growth opportunity of US$ 3.6 Bn during 2022-2032.
The rising concern for the environment has encouraged diverse sustainability drives. This has led many manufacturers in the packaging sector to employ recyclable packaging materials to meet the escalating demand for environmentally friendly products. In the past few years, airless packaging has expanded its product line to include different types such as airless bottles, tubes, and jars.
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These products are inviting increasing demand from different industries like skincare and healthcare as these bottles would aid in the prevention of contamination and help in extending the shelf life. Hence, elevated demand for various cosmetic and skincare products such as creams, foundations, and serums along with a demand for a longer shelf life of the same products is expected to foster growth for the target market.
At present, Europe accounts for the largest share of the global airless packaging market. Owing to the strong presence of numerous renowned fashion and cosmetic brands, particularly in Paris, the region holds over 35.5% of the market. Different skincare brands across Europe are accentuating the use of sustainable airless packaging for addressing rising concerns associated with sustainability and protection of the product against oxidation. All of these considerations boost the overall market growth of airless packaging in the global space.
“Increasing demand for a wide range of cosmetic products as well as a growing need for a longer shelf life of the same augments the global sales of the airless packaging market during the forecast period,” says an FMI analyst.
Key Takeaways:
- Heightened demand from different industry verticals, particularly the cosmetic sector, will strengthen the market.
- The airless packaging market in the U.S. will acquire about 23.9% of the global market share by 2032.
- China’s airless packaging market will expand 2.2 times the current value during 2022-2032.
- Plastic airless packaging will witness heightened demand while accounting for 66.3% of the global market share.’
- Airless bottles will grow at a standard 5.1% CAGR over the forecast period.
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Competitive Landscape
Aptar Group Inc., Albea Beauty Holdings S.A., Silgan Holdings Inc., Lumson SPA, HCP Packaging, Quadpack Industries, Libo Cosmetics Company, Fusion Packaging, WestRock Company, ABC Packaging Ltd., Raepak Ltd., COSME Packaging, Eastar Cosmetic Packaging, Andler Packaging Group, and Cospack America Corp., among others are some of the major players in the airless packaging market profiled in the full version of the report.
Major market players are focusing on capacity expansion to cater to the growing demand. These organizations are investing more into the expansion of their current facilities, developing sustainable and innovative products to meet the elevated demand for sustainable packaging. Mergers, acquisitions, and collaborations are some other tactics employed by major businesses in the field.
More Insights into Airless Packaging Market Report
In its latest report, FMI offers an unbiased analysis of the global airless packaging market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of packaging type (bottles, jars, tubes), material (plastic, glass), dispensing system (pumps, dropper, twist & clicks), and region.
According to the latest FMI reports, based on segmentation, the plastic segment will exhibit tremendous growth and generate an incremental opportunity of US$ 2.3 Bn during 2022-2032. By type, the bottle segment is projected to grow at a CAGR of 5.1% during the assessment period.
Based on region, the airless packaging market in the U.S. will exhibit notable growth due to heightened demand for airless glass cosmetic bottles and jars. The country’s airless packaging market will facilitate a growth opportunity of US$ 680 Mn during the projected period. The U.S. currently holds the largest share in the cosmetic jars market. This bodes well for the overall target market in this region. In China, too, the market is expected to experience considerable growth during 2022-2032.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Impact of Covid-19
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
4. Global Airless Packaging Market Analysis 2015-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Bn) & Volume (Tons) Analysis, 2015-2021
4.2. Current and Future Market Size Value (US$ Bn) & Volume (Tons) Projections, 2022-2032
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