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Airless Packaging Market Growth & Trends
The global airless packaging market size is expected to reach USD 8.1 billion by 2027, according to a new report by Grand View Research, Inc., expanding a CAGR of 6.0% over the forecast period. Growing demand for premium cosmetics and increasing demand for airless packaging and industrial products are key factors augmenting the market growth. Premium cosmetic products contain active ingredients in their formulations and often get contaminated when exposed to oxygen; thus, to protect the integrity of the packed products, cosmetic manufacturers mainly opt for airless packaging solutions.
Furthermore, as premium cosmetic products are considerably expensive, consumers prefer using completely natural products. Thus, to enable easy, hassle-free, and complete product evacuation, cosmetic manufacturers opt for airless tubes, bottles, jars as they ensure nearly 95% product evacuation from airless containers. Most of the dermal drugs are offered in semisolid formulations, such as lotions, creams, ointments, gels, pastes, or foams, and plastic and metal tubes are often preferred for their packaging owing to their low cost and compact size.
However, non-airless packaging provides limited protection against air and light resulting in evaporation and degradation of the packed product. Therefore, dermal drug manufacturers are increasingly opting for airless packaging, which restricts the contamination of dermal formulation from environmental exposure. Declining demand for luxurious products due to changing income patterns is expected to negatively impact the market growth in 2020 since the packaging mostly utilized for premium cosmetics.
Furthermore, to curb the price of the product, personal care manufacturers are expected to opt for low-cost packaging in place of airless packaging over a shorter term, which, in turn, is likely to have a negative impact on the market. The plastic was the leading material type and accounted for over 63.26% of the total market revenue in 2019. Various types of plastic resins, including PE, PET, ABS, PMMA, and SAN, are widely utilized for manufacturing plastic-based airless bottles, jars, and tubes.
The demand for plastic is high as these materials are lightweight, easy to mold, and cost-effective compared to other materials. The market players are also increasing focus on sustainable production owing to the increasing demand for sustainable packaging solutions in recent years. This demand is also fueled by the increasing implementation of regulations regarding the processing & recycling of raw materials, particularly plastic.
Airless Packaging Market Report Highlights
- The plastic segment accounted for the largest market share of 63.26%, in terms of revenue, in 2019, owing to high demand as these materials are lightweight, easy to mold, and cost-effective
- The bags & pouches product type is anticipated to register the fastest CAGR of 6.6% from 2020 to 2027. Increasing demand for flexible, portable, and pocket-friendly products is the key factor contributing to the segment growth
- The pharmaceutical application segment is expected to witness substantial growth from 2020 to 2027. The growth can be attributed to growing awareness about skin diseases and rapid development and approval of dermal drugs by regulatory bodies, such as the FDA
- Europe emerged as the leading regional market and accounted for over 34% of the total revenue share in 2019
- The growth is attributed to the presence of key global cosmetics and dermatological drugs manufacturers, such as L’Or?al, Beiersdorf, Chanel, Unilever, and LVMH, in the region
- The market is moderately fragmented with the presence of key players and a smaller number of medium-scale companies
- The market players adopt various competitive strategies, such as regional expansion, mergers & acquisitions, and emphasis on research & development activities