The global home care packaging market is expected to grow at ~ 8.5% CAGR during the forecast period.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/5203
In the recent years, home care products market has witnessed a lot of growth due to the increasing per capita income of individuals in the developing countries, and their preference to lead a healthier lifestyle. Improving standards of living, also act as a key factor for the growth of the market. Demand for home care products has been on an upward trend, especially, as the consumers, with growing health awareness, tend to avoid expensive medical care costs. To keep up with this demand, home care packaging industry has ramped up their offerings to differentiate between multiple packaging solutions, conveying useful information, without compromising on the safety standards. The packaging market for home care products is set to record high growth during the forecast period.
The global market for home care products is growing significantly due to increasing adoption of home care packages in developed economies. However, it is expected to witness an increase in demand in developing countries in near future due to the growing awareness about home care services. Growing health awareness, improving standards of living, and increase in per capita income of people are some of the reasons driving the growth of home care industry. Currently, there are number of players engaged in the business of home care product manufacturing. Wide range of product availability and variation in prices, also fuel the market growth. Packaging innovation, and technological developments for better results, are some other factors driving the market growth.
The market is expected to have a huge number of new entrants over the forecast period, owing to continuous developments in packaging industry with growing consumer preferences for high hygiene. The market is also expected to have high expansion activities by multinationals and well-established companies. Merger and acquisition activities are expected to be seen over the forecast period.
Segmentation of Market: Home Care Packaging
From the viewpoint of segmental study, the global home care packaging market is also studied among the various segments of product, material, and packaging type.
Among the product segment, the market has been segmented into insecticides, dishwashing, toiletries, laundry care, air care, polishes, and others. Among these, the toiletries products have been projected to lead the home care packaging market throughout 2023. The top position of this segment can be attributed to the rising hygiene concern among all classes of people, across the globe.
Among the material segment, the market has been segregated into paper, plastic, metal, and glass. Plastic led the market in the year 2016 and is projected to be the fastest-growing material type. The wide application of plastic across all significant packaging types is generating better market prospects for plastic for the global home care packaging market.
Among the packaging segment, the market has been segmented among cans, bottles, jars, cartons, pouches, and more. Among these, the bottles segment led the market back in the year 2016 and is now projected to be the fastest-growing packaging type. The rise is attributed to the convenience in storage, transporting, and flexibility to handle all kinds of home care products.
From the viewpoint of the regional aspect, the global home care packaging market has witnessed its maximum growth in the region of Asia Pacific. The reports present that Asia-Pacific is leading the demand in the homecare packaging market and is forecasted to lead the industry owing to new demand for home care products, increasing population, and changing lifestyles. Growth in this region is expected mainly in developing nations, such as India and China, owing to high retail sales growth. Higher sales growth percentage of consumer goods and rising consumer expenditures are other vital factors boosting the home care products industry.
In fact, the FMCG industry in India has considerably contributed to the growth of home care products in the country. As per the IBEF, the FMCG market in India will witness in future a CAGR of 20.6% and would reach USD 103.7 billion by the year 2020 from USD 49 billion, which was achieved in 2016.
To add some more highlights f market growth in this region, toilet cleaners have primarily catered to the urban and semi-urban markets in India. Government initiatives, such as ‘SwachBharath,’ are significant enablers for the home care packaging market.
Access Report Details @ https://www.marketresearchfuture.com/reports/home-care-packaging-market-5203
The top market contenders active in the global home care packaging market are listed as Mondi (South Africa), Amcor Limited (Australia), Rexam plc (U.K), Bemis Company, Inc. (U.S.), Winpak Ltd. (Canada), RPC Group (U.K.), Sonoco Products Company (U.S.), AptarGroup, Inc. (U.S.), Tetra Laval (Switzerland) and Silgan Holdings (U.S.).
Read more related insights:
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
+1 646 845 9312