Airless Packaging Demand Hindered by Waning Luxury Product Sales: Future Market Insights
*Airless packaging players are focusing on incorporating eco-friendly materials to cater to the growing demand for sustainable packaging solutions in the market.*
*DUBAI, UAE / ACCESSWIRE / October 27, 2020 / *The global airless packaging market is projected to record a moderate yet positive expansion during the anticipated period 2020-2030. The airless packaging market growth is anticipated to witness a downturn in production cycles as well as supply chain disruptions for the short-run, however, rising e-commerce sales are slated to prompt an early recovery.
"Surging virtual transactions concerning cosmetics is leading airless packaging producers to provide safe packaging solutions to avert any damage amid transit," states the FMI analyst.
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*Airless Packaging Market- Important Highlights*
· Plastic airless packaging material will be a key beneficiary, followed by glass material over the assessment period.
· Bottles & jars are majorly preferred packaging type among several cosmetic manufacturers, followed by airless pump tubes.
· Demand for a cosmetic product is higher in Europe, thus complementing the demand for airless packaging in contrast to North America.
*Airless Packaging Market - Drivers*
· Growth in the up-gradation of product portfolios has boosted the requirement for efficient packaging solutions such as airless packaging to maintain product integrity.
· Market players are exploring various innovative packaging solutions by integrating several materials such as glass, high-density plastics, and other environment-friendly material to draw potential clients.
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*Airless Packaging Market - Restraints*
· Decreasing demand for luxurious products owing to shifting earnings pattern is likely to negatively influence the market.
· Several personal care producers are opting for low-cost packaging over airless packaging, which, consecutively, will hinder the market growth.
*COVID-19 Impact on Airless Packaging Market*
The COVID-19 pandemic has impacted the airless packaging market, although at a moderate level. As conventional brick & mortar cosmetics sales have immersed, customers are depending on e-commerce channels to buy their products. This is assisting in sustaining the demand in the market. Post-crisis, however, market growth is likely to be reinstated to its normal trajectory, counterbalancing all shortfalls and disruptions.
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*Competitive Landscape*
The global market is inclusive of several small-scale and reputed participants, rendering it considerably fragmented in nature. Several strategies, ranging from pricing, product differentiation, collaborations, and product customization, are deployed by these participants to boost their presence. Product development stays the cornerstone of all the participants' prime growth strategies, therefore escalating market competition. Major participants identified in the market include Aptar Group Inc., Silgan Holdings Inc., Albea Beauty Holdings S.A, HCP Packaging, Libo Cosmetics Company, LUMSON SPA, Quadpack Industries, Fusion Packaging, WestRock Company, Raepak Ltd., ABC Packaging Ltd., Eastar Cosmetic Packaging, COSME Packaging, Cospack America Corp. and Andler Packaging Group.
*About the Study*
The study offers readers a comprehensive assessment of the Airless Packaging market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights according to packaging type (bottles & jars, bags & pouches, tubes and others), material (plastic, glass and others) and dispenser type (pumps, dropper and twist & clicks), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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*About FMI*
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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*SOURCE: *Future Market Insights
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