Health & Hygiene Packaging Market worth $148.0 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 29, 2024 /PRNewswire/ -- The report "Health & Hygiene Packaging Market by Product Type (Films & Sheets, Laminates, Bags & Pouches, Bottles & Jars, Sachets, Labels, Tubes, Boxes & Carton), Form, Shipping Form, Structure, End-user Industry, and Region - Global Forecast to 2028", is approximated to be USD 110.9 billion in 2023, and it is projected to reach USD 148.0 billion by 2028, at a CAGR of 5.9%.
The surge in urbanization, evolving lifestyles, increased disposable income, a growing preference for sustainable packaging, and global awareness of hygiene are driving the expansion of the health and hygiene packaging market. However, challenges include the elevated costs of raw materials used in manufacturing packaging products like pouches, bags, roll stock, films, and wraps. Additionally, inadequate recycling infrastructure poses a hindrance to the health and hygiene packaging market. Opportunities arise from the rising demand for sustainable packaging, as it emerges as a superior alternative to traditional materials due to heightened hygiene awareness.
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"Bottles & Jars is largest growing segment on the basis of product type, in terms of value, during the forecast period."
The surge in personal care and home care packaging featuring plastic bottles can be attributed to multiple factors. Manufacturers prefer plastic due to its lightweight and durable attributes, leading to reduced transportation costs and heightened product safety. Plastic bottles provide a versatile design, enabling creative packaging solutions and brand distinctiveness. The ease of dispensing and handling adds to consumer convenience, driving demand. Moreover, plastic bottles prove cost-effective compared to alternative materials. With an increasing focus on sustainability, the industry is experiencing a transition towards recyclable and eco-friendly plastics, playing a pivotal role in sustaining the growth of plastic bottles in the personal care and home care packaging domain.
"Primary packaging form is largest growing segment on the basis of shipping form, in terms of value, during the forecast period."
The increasing demand for primary packaging formats, such as films & sheets, tubes, and pouches, is driven by various factors. Consumer preferences for convenience and portability are key drivers, especially with the rising popularity of pouches and tubes that provide practical solutions for on-the-go lifestyles. The expansion of e-commerce contributes to a heightened need for sturdy and protective primary packaging to ensure secure transportation. With a growing emphasis on sustainability, the industry is experiencing a transition toward eco-friendly materials, fostering the growth of environmentally conscious primary packaging formats.
"Rigid Packaging is largest growing segment on the basis of form, in terms of value, during the forecast period."
The rigid packaging market is experiencing robust growth driven by consumer demand for secure and durable containers, ensuring product integrity. Products like bottles & jars, boxes & cartons, and tubes offer protection against external elements, extending the shelf life of diverse products. The surge in e-commerce activities amplifies the need for sturdy packaging solutions. Furthermore, heightened environmental awareness is propelling the industry toward sustainable rigid packaging, fostering growth in eco-friendly alternatives.
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"Hypermarkets and Supermarkets is largest growing segment on the basis of distribution channel, in terms of value, during the forecast period."
The increasing global trend towards urbanization and evolving consumer lifestyles further boosts the demand for home care packaging in hypermarkets, fueling the growth of this distribution channel. The personal care and home care packaging market benefits from the growth drivers in hypermarkets and supermarkets. These retail giants offer a comprehensive shopping experience, attracting consumers seeking convenience. With ample shelf space, hypermarkets and supermarkets showcase a diverse array of home care products, enhancing visibility. Strategic partnerships with manufacturers enable effective product placement and promotions, influencing consumer choices.
"Personal Care & Cosmetics is the largest growing segment on the basis of end-use industry, in terms of value, during the forecast period."
The increasing demand for personal care and home care, alongside the robust growth of the OTC pharmaceuticals market, is a result of heightened health awareness and evolving consumer lifestyles. Consumers in the personal care and home care sectors prioritize hygiene, wellness, and convenience, driving the demand for a diverse range of products. Simultaneously, the OTC pharmaceuticals market sees a rise in consumer preference for self-care solutions, fueled by factors like accessibility, affordability, and a growing awareness of preventive healthcare.
"North America is largest growing segment on the basis of region, in terms of value, during the forecast period."
North America has the largest market share in the Health & Hygiene packaging market, in terms of value. Europe has the third largest market share in the Health & Hygiene packaging market, in terms of value. With prominent consumers like US, Canada, Mexico leading the trend, the region thrives on increased construction activities and is a hub of major packaging manufacturers. Efficient manufacturing facilities and well-established distribution channels enhance supply to renowned packaging manufacturers. Owing to the increasing income of people in this region, the demand for high-end packaging products for healthcare, food, and beverage, and has been proliferating. Apart from the food & beverage industry, the North America region also exhibits significant opportunities in the packaging & labelling industry, which is expected to drive the flexible packaging market.
Berry Global (US), Amcor Plc (Switzerland), WestRock (US) and Kimberly Clark (US) are some of the established players in the health and hygiene packaging market. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.
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