SEATTLE, Nov. 19, 2019 /PRNewswire/ -- The global atmospheric foam packaging market was pegged at 1,284.1 million units in 2018 and is expected to exhibit a CAGR of 3.4% over the forecast period (2019–2026).
Key Trends and Analysis of the Atmospheric Foam Packaging Market:
Foam pump packaging is commonly used for personal care and baby care products such as hair conditioners, shampoos, lotions, and others. Increasing demand for baby care, cosmetics, and personal care products is expected to drive growth of the atmospheric foam packaging market. For instance, according to the International Trade Administration (ITA), U.S. Department of Commerce, cosmetics and personal care (BPC) industry in U.K. was valued at US$ 11, 194 million in 2015 and reached value of US$ 11,263 million in 2016.
The market is expected to exhibit a CAGR of 3.4% during the forecast period (2019–2026) and this is attributed to increasing demand for baby care and personal care products, and rising hygiene awareness. According to the Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO), one of the best way to prevent the spread of flu and other germs is by washing hands. Such favorable government policies helps in creating awareness among consumers, which is increasing demand for dispensers and in turn driving growth of atmospheric foam packaging market.
Among foam pump type, travel size foam pump segment accounted for a significant revenue share in the global atmospheric foam packaging market in 2018. Travel size packaging of foam pump is convenient to carry, as it can fit in a travel kit, whereas handheld foam pump and tabletop foam pump are not preferred as a travel foam pump, owing to their greater height and width. Travel size foam pump are expected to gain traction, owing to growing tourism industry, globally. For instance, according to the World Bank Data, Spain observed 75,315 Bn international tourist arrivals in 2016, which increased to reach 81,786 Bn in 2017. Moreover, according to the United Nations World Tourism Organization (UNWTO) International Tourism Barometer, the number of international tourist arrivals in the Middle East in 2016 was 55.6 million, which reached 58.1 million in 2017.
Atmospheric foam packaging offers a wide range of foam pumps for body care, hair care, hand care, sun care, and makeup among others. Foam pumps are expected to gain traction, owing to rising hygiene awareness and increasing demand for beauty and personal care products such as shampoos, conditioners, body lotion, and cleansers, among others. For instance, according to The Cosmetic Toiletry & Perfumery Association 2017 report, the cosmetics industry in U.K. was valued around US$ 12.30 billion in 2017, of which 23.6% was accounted by the skin care industry, 18.5% by fragrances, 17.5% by hair care, and 16.4% by color cosmetics. The report also stated that the skin care industry in the U.K witnessed a growth of 1.5% in 2017 to reach US$ 2.90 billion in December 2017, from US$ 2.86 billion in December 2016.
In the global atmospheric foam packaging market, the North America region is expected to register a CAGR of 4.1% in terms of value over the forecast period
Major players within the hotel industry are focused on offering exclusive foaming products through internal production facilities or in-house brands, which is expected to increase demand for different packaging solutions that are convenient to use. This factor is expected to drive growth of the atmospheric pump segment over the forecast period.
Major players operating in the global atmospheric foam packaging market:
Albea S.A., RPC Group, Rieke Packaging System, Guangzhou Talents Cosmetics Packaging Co., Ltd., CLC Co., Ltd., Mitani Valve Co., Ltd, Yoshino Industrial Co., Ltd., Daiwa Can Company, Ltd, Hangzhou Ruijing Packaging Co Ltd, Zhongshan HaiFeng Packaging, and Zhejiang JM Industry Co. Ltd. among others.