Research Nester published a report titled “Airless Packaging Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global airless packaging market in terms of market segmentation by packaging, material, dispensing system, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global airless packaging market is projected to grow at a CAGR of ~5% by attaining substantial revenue during the forecast period, i.e., 2023 – 2033. Significant demand for packing medicines is anticipated to propel the growth of the market during the forecast period. For instance, in 2021, the medicine segment received about USD 1.5 trillion of spending.
Additionally, the rising utilization of airless packaging in the food & beverage industry is further estimated to propel the market growth over the forecast period. The global food segment was projected to generate total revenue of about USD 275 billion in 2022.
Additionally, by packaging, the global airless packaging market is segmented into bottles, tubes, jars, bags & pouches, and others. Out of these sub-segments, the bottles segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the higher possibility of getting diseases from using normal plastic bottles. As of 2020, approximately 700 million units of airtight bottles were produced across the globe.
Furthermore, the global airless packaging market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of rising demand in the hair & skincare industry. It is observed that in 2020, the hair & skin care industry amounted to about USD 300 billion.
Higher Sales of Cosmetics to Foster the Growth of the Market
The total sales of cosmetics solely in the USA were estimated to reach about USD 50 billion every year.
A large number of the population uses particular cosmetics on a daily basis and it boosts the demand for products that can last long with proper effectiveness. In this condition, cosmetics manufactures are exposed to the utilization of airless packaging of the products. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, the presence of alternatives in the market and disrupted supply-chain due to COVID-19 is expected to operate as a key restraint to the growth of the global airless packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global airless packaging market which includes company profiling of Cospack America Corp., AptarGroup, Inc., Pharma Packaging Solutions, Albéa Services S.A.S., Eastman Chemical Company, Silgan Dispensing Systems, Webpac Ltd, Lumson S.p.A., WestRock Company, and HCP Packaging UK Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global airless packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.