The global fragrance packaging market is expected to be grow at a CAGR of 5.5% during the forecast period of 2023 to 2030.In light of the multiple advantages offered by perfume packs, there has been an uptick in demand for these packs in numerous industries, including the production of benzyl alcohol, ethanol, and camphor. To meet the needs of this market, manufacturers are increasing their capacity for manufacturing in an effort to boost their sales. The rising consumption of perfumes around the world can be attributed to the millennial generation's affinity for a variety of cultures and their adaptability to changing lifestyles. It is anticipated that this will open up prospects for growth in the market throughout the course of the projection period.In addition, manufacturers are adopting innovative practises and utilising recyclable polymers in order to make products that are friendlier to the environment. Consumers are interested in environmentally friendly businesses and products, and they are prepared to pay a greater price for environmentally friendly goods and packaging formats. Customers all over the world view their choice of scent as a reflection of who they are in terms of their originality, nature, personality, and style, this industry is primarily driven by customer demand.
Focus on Environment Friendly Packaging Offers Significant Opportunities
The expansion of the cosmetics and perfume packaging market is anticipated to be driven by the rising demand for innovative and eco-friendly packaging designs, as well as sustainable and environmentally friendly packaging. A large amount of time, money, and resources have been devoted by beauty and cosmetics firms in the development of innovative packaging for their goods in order to represent the quality, luxury, and worth of their products. The Asia-Pacific region is forecast to experience explosive growth over the next several years as a result of rising per capita incomes, improvement in standards of living, increasing awareness regarding environmental solutions. Markets in Asia and the Pacific are led by countries such as India, China, and Malaysia.
Innovating Packaging Attracts Premium Customers
Fragrances are sometimes packaged in flashy and appealing boxes in an effort to raise consumers' awareness of the product's brand. The appearance and texture of the bottle are both improved by the use of packaging materials of the highest possible grade, which are utilised in the packaging of luxury perfumes. The aesthetic attractiveness of a product can be enhanced by the use of attractive packaging, which also assists individual companies in standing out from the competition.Customers are willing to spend a higher price for perfumed and fashionable bottles because of the premium appearance and sensation that are associated with the perfume. Different types of fragrance delivery systems are included in perfume sets, including regular bottles, pocket spray bottles, and perfume vials.
Bottles' primary purpose is to provide consumers with fundamental product information while also contributing to an increase in the value of the brand through the utilisation of aesthetically pleasing designs and graphics printed on the bottle's surface.The perfume set will typically include bottles of varied sizes and shapes; nevertheless, the vast majority of items will be packaged in small bottles that only carry a single fragrance. Sales of perfume packs will be driven by the growing demand for portable, handy, and simple application packaging solutions for perfumes.
Product Strategies to Increase Repeat Sales
With the goal of increasing the number of consumers who use perfume on a regular basis, many fragrances are now being made available with a low concentration of aroma or essential oils. These perfumes, which include eau fraiche and eau de cologne, are examples of these types of perfumes. This, in turn, leads to an increase in the amount of times perfume is used, which, in turn, results in an enormous demand for the packaging of perfume during the forecast period.
Rise in E-Commerce Platforms Increasing Sales Significantly
E-commerce is another force that is propelling the sector forward. E-commerce raises awareness of both domestic and international perfume businesses by selling their products through a variety of online shopping portals. This gives customers the opportunity to try perfumes from international brands, which is something they have always wanted to do but could never do because those brands are not sold in retail stores or shopping malls. In addition, an increase in the average per capita income, in conjunction with a consumer's propensity to spend money on high-end grooming goods, stimulates the demand for the total cosmetic business, which in turn drives the market for perfume packaging.
Easy Accessibility to Duplicate and Counterfeit Perfumes Limiting the Market Growth
However, it is projected that the increasing commercialization of imitations of the product will act as a barrier to the expansion of the market. In addition, fake fragrances can be purchased in containers that are designed to look like the genuine article but are actually copies that have been manufactured using low-quality materials. Because of this, the value of packaging is diminished, and it also becomes more difficult for customers to distinguish between authentic and fake products. As a result, some customers are content to purchase these goods because of the extremely low price at which they are offered, which hinders the expansion of the market.
It is anticipated that the primary packaging category would continue to hold its current level of market share.
When compared to other types of packaging, such as tubes, roll-ons, and sticks, it is projected that both bottles and cans will experience strong growth during the forecast period. In 2021, the bottles sector held the greatest market share. It is commonly held belief that perfumes and smells appear more sophisticated when housed in bottles as opposed to cans. To increase consumer interest in their products, manufacturers are concentrating on developing bottles with a variety of sizes and contours.The category is being driven by the use of bottle designs for premium perfumes that are of high quality. In addition, bottles are airtight, thus there is very little loss of scent due to evaporation, particularly when compared to roll-ons and cans. In addition, since deodorants and tubes can be packaged in either metal or bottles, glass bottles are regarded as the quintessential container for perfumes.
Glass Holding Maximum Revenue Share, While Metal Segment to Grow the Fastest
Glass segment is expected hold a revenue share of over 70% by the end of the forecast period (2030). Because of its nonporous and impermeable qualities, which render it chemically non-reactive when exposed to perfume, this market segment has been expanding at a rapid rate. Because of this, the majority of perfume makers opt to use it as their primary form of packaging material for their products. In addition, the fact that perfumes contained in glass bottles have a longer shelf life makes the vast majority of customers choose to purchase them. Glass bottles are used for packaging the scents sold by vendors who specialise in making fragrances to the customer's specifications.
In addition to that, it provides an exceptionally high level of protection to oxygen-sensitive products. Glass is the most common form of material because of its high strength and resistance to breaking. Glass not only makes the goods appear and feel more expensive but also increases the value it carries on the shelf. During the forecast period, it is also anticipated that the metal sector would experience a large amount of market expansion. Cans, both aerosol and non-aerosol, are in high demand among customers, and this material is employed in the production of both types of cans.
Europe Dominating the Revenue Share, While Asia to Lead the Growth
Europe is in the lead in the market for deodorants and perfumes as a result of the high demand in the region. It is anticipated that the rising cosmetics and perfumery business in Spain will contribute to an increase in sales of fragrance packaging market. It is anticipated that sales in the Spain perfume pack market would increase at a CAGR of 6.2% during the forecast period of 2023 to 2030. According to Stanpa, the National Association of Perfumery and Cosmetics, the perfume sector accounts for approximately 33% of the market in terms of personal care products, including makeup, hair care products, skin care products, and perfume.Additionally, Spain is ranked as the world's second-largest supplier of perfumes after France. An average person will use approximately 28 different perfumes and cosmetics in a single year. On the basis of these considerations, Spain is anticipated to develop into a prosperous pocket during the duration of the prediction.During the time of the forecast, it is anticipated that the German perfume pack market would have an opportunity of market expansion. According to the IKW, which is the German Cosmetic, Toiletry, Perfumery and Detergent Association, Germany is considered to be one of the largest markets for cosmetic, toiletry, perfume, and detergent product in Europe. It is followed in this ranking by France, the United Kingdom, and Italy. Germany will account for a dominant share of the European market as a consequence of the factors that have been mentioned above.
Asia-Pacific region is expected to be the fastest growing market therefore, registering the highest CAGR during the forecast period. This occurs as a result of the continued urbanisation and industrialization of the world as well as the increased focus on product innovation. The development and expansion of the e-commerce and packaging industries in this region will result in the creation of market expansion opportunities that are even more alluring and lucrative. Alterations in consumers' ways of life and increases in average income per person are two more major indirect market development determinants. India and China will eventually emerge as the most important contributors from this region as a result of the tremendous economic transformations that these nations will undergo.The economy of the region is being driven in a significant way by countries such as China and Japan. A significant portion of the market for luxury goods, one segment of which is the market for perfume, is held by Japan. A promising market has been created in the county as a result of strong currency rates and an increase in the amount of income that is disposable, which has contributed to market growth in the overall region.
Market to Remain Highly Competitive
Gerresheimer AG, Swallowfield, Saverglasssas, ALBEA, IntraPac International, Piramal Glass Private Limited, Quadpack, Alción, CCL Container, Coverpla, Exal Corporation, General Converting Inc., Premi Beauty Industries, Continental Bottle Ltd., FMI, SGB Packaging Group, AptarGroup, Inc., Brimar Packaging USA, and Cosmopak are among the major players in the global market. Because of their enormous production capacities, global revenue bases, accessibility of raw materials (mineral reserves), and global distribution networks, thesecompanies accounted for a significant percentage of the total market share in the global market for fragrance packaging. In addition, it is evaluated that the implementation of various market strategies, such as increasing production capacity, investment in research and development,agreements, partnerships, joint ventures, and product launches, will benefit these players and enable them toenhance market position. For Instance, on May 2023 Gerresheimer AG made the announcement that it would be increasing its production capacities by constructing a brand-new, state-of-the-art facility in India for the production of glass and plastic storage containers. Additionally, manufacturers are actively pursuing innovative approaches to capture the attention of customers. For instance, DuPont Packaging & Industrial Polymers presented a novel and engaging game titled "Design Your Perfume Bottle" that allowed attendees to personalise their own fragrance bottles. This game offered players the opportunity to customise bottles and caps with a wide range of shapes, opacities, ornamental effects, and colour schemes.The global market for perfume pack products is very competitive as a result of the presence of a wide variety of rivals from both local and regional markets.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Fragrance Packaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Raw Material
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Product
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Capacity
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Packaging
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
