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Albany, New York, May 23, 2019 (GLOBE NEWSWIRE) -- The global perfume packaging market is expected to register healthy growth, thanks to dynamic shift in consumer purchasing preferences and fierce competition in the e-commerce sector. The perfume packaging market is expected to depict a highly competitive and fragmented landscape in the near future. Pricing and social-media are expected to emerge as key trends are driving the perfume packaging market, reports Transparency Market Research (TMR). Some key players in the perfume packaging market are Continental Bottle Co. Limited, Quadpack Ltd, Alcion Plasticos, Premi Spa, Verescence France SASU, Albea S.A., Glaspray Engineering & Manufacturing Co. Ltd., and Saverglass sas, Coverpla S.A.
Perfume packaging has always been an integral part of branding perfumes. Growing advancements in technologies such as 3D printing, new design approaches, and automation are expected to expand the current horizons. The perfume packaging market players are investing in research and development to innovate packaging with new materials. Additionally, growth of e-commerce and relatively higher cases of product recalls are also expected to boost growth in the perfume packaging market.
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The global perfume packaging market reached US$2,031.9 mn in evaluation in 2016. The market is expected to grow at 5.0% CAGR during 2017-2025 and reach US$2,119.9 mn by the end of the forecast period. Based on materials, the perfume packaging market is divided in metal cans, bottles, plastic roll-ons, and others. Among these, perfume bottles are expected to register the highest total revenues in the near future. Additionally, among regions, Europe is expected to dominate total revenues. However, Asia Pacific is key to exploring new opportunities for growth as emerging countries are expected to drive the highest demand for perfume packaging market. Europe regional perfume packaging market is anticipated to reach US$705.80 mn by 2026 end.
Shifting Dynamics to Drive Growth in the Perfume Packaging Market
Earlier, perfumes emerged as a necessary hygiene etiquette for most people. However, industrialized manufacturing has made perfumes cheaper and widely available to everyone. Additionally, growing information has made consumers more knowledgeable of both ups and downs of using perfumes. Hence, perfumes are no longer the must-have but rather must-experience products. This is a good news for the perfume packaging market as growing role of personal branding and subsequent packaging has created new opportunities for higher margins. Additionally, technologies like 3D printing and automation in packaging can significantly boost productivity while simultaneously decrease costs in the long run. However, modest growth of perfumes in developed markets continues to be a challenge. Many large established companies like L’Oreal are investing in social media influencing strategies to open new channels of communication with consumers. Promotions and discounts online continue to drive growth for players in the perfume packaging market.
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Metal and Small Packaging to Witness the Highest Growth
The global perfume packaging market offers a wide range of packaging materials. Among these, the glass packaging is expected to register highest revenues, thanks to higher margins and innovation. On the other hand, the metal materials are expected to register the highest penetration in the market. Their cost-effective nature and widespread availability of metal materials are expected to drive growth of the perfume packaging market. Additionally, various plastic packaging solutions are also expected to witness considerable growth in the market. Currently, plastic packaging materials include PP, PE, PET, PVC, and PS. The wide range of options in plastic are expected to drive their significant growth in the near future. Moreover, roll-ons and stick packs are gaining popularity as well.
The review is based on a report by TMR titled, “Perfume Packaging Market (Material - Glass, Metal, Plastic (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, and Polystyrene), and Paper Board; Packaging Type - Primary Packaging (Bottles, Cans, Tubes and Roll-ons, and Stick Packs) and Secondary Packaging (Folding Boxes, Hinged Boxes, and Two Piece Boxes); Capacity - Less than 100 ml, 100-250 ml, 250-500 ml, and Above 500 ml; End Use - Perfumes (Eau de Parfum, Eau de Toilette, Eau de Cologne; and Eau Fraiche), and Deodorants) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
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The global perfume packaging market has been segmented as below:
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