ALBANY, New York, December 20, 2016 /PRNewswire/ --
The global airless packaging market is likely to progress at a CAGR of 5.5% from 2016 to 2024 in terms of value. The overall value of the market by the end of 2016 is expected to be US$4.13 bn. It is expected to reach US$6.34 bn by the end of 2024. By volume, the global airless packaging market is expected to reach 29,303.2 kilo tons by the end of 2024.
Aptar Group, Inc., Westrock, LUMSON SPA, and HCP Packaging have been the key players in the global airless packaging market till 2015. A lot of the prominent players at the time are expected to continue being key proponents in this market for the foreseeable future.
According to the research report released by Transparency Market Research, Europe will be the place to watch out for in terms of the competitive landscape of the global airless packaging market. A large proportion of the key players in this market are based in Europe or hold large manufacturing capabilities in the region. Additionally, a greater number of manufacturers are expected to adopt plastics over other material types in the global airless packaging market, owing to the superiority of plastics in terms of physical and mechanical properties.
Massive Scope for Incorporation of Airless Packaging into Cosmetics Industry
The global airless packaging market thrives off its superiority in terms of packaging quality over conventional methods. Airless packaging can provide a great way for distributors to save space as well as overall packaging material used, thus helping them cut costs down to a large extent over time. Additionally, the use of airless packages for products, such as airless pumps, allows a user to use up at least 95% of the contents in a bottle, which is much higher than conventional pumps. As stated by a TMR analyst, "The zero-wastage advantage presented by airless packaging alone is expected to revolutionize several industry verticals, especially the cosmetics industry. Several of the leading producers of cosmetics and personal care products, such as L'Oreal, Olay, Nivea, and Oriflame, are indulging in airless packaging and are gaining a highly positive feedback from users in terms of usable volume available in a given package."
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Low Product Differentiation could Restrict Player Profiles
One of the leading issues with airless packaging today is the very low rate of product differentiation that manufacturers can achieve. This makes it very difficult for manufacturers to achieve a high number of consumer value propositions. The lack of value propositions further makes it difficult for manufacturers to incorporate innovations and speed up development processes because they cannot tell effectively whether their products are being received well or not, making it difficult for them to understand their customers and achieve a higher level of product organization.
"There is still, however, a very high scope of growth left for the global airless packaging market. A lot of this lies in the growing demand for premium packaging and luxury packaging. The cosmetics industry especially is showing a positive inclination towards the greater use of premium packaging as it allows them to introduce several luxury cosmetic products with greater product appeal," adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, "Airless Packaging Market - Global Industry Analysis and Forecast 2016 - 2024."
Browse Regional PR: http://www.europlat.org/global-airless-packaging-market.htm
Key segments of the Global Airless Packaging Market
Material type assessed in the report are:
Packaging type assessed in the report are:
- Bottles & jars
- Bags & pouches
Dispenser type assessed in the report are:
- Twist & click
End-use type assessed in the report are:
- Personal Care
- Skin care
- Hair care
- Baby care
- Home care
Regions assessed in the report are:
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Recent Research Reports by TMR:
- Retort Packaging Market:http://www.transparencymarketresearch.com/retort-packaging-market.html
- Cosmetic Packaging Market:http://www.transparencymarketresearch.com/cosmetic-packaging-market.html
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