Perfume & Fragrances Packaging Market - Forecast(2024 - 2030)
Perfume & Fragrances Packaging Market Overview
Perfume & Fragrances Packaging Market size is forecast to reach US$12.5 billion by
2027, after growing at a CAGR of 7.3% during 2022-2027. Fashion trends, which
are unpredictable and constantly changing, have a major impact on the growth of
the fragrances and perfumes business. As a result, prominent market
participants are concentrating their efforts on creating intriguing, unique,
and innovative fragrances to appeal to a variety of consumer groups around the
world. Globally, the increasing usage of plastic materials such as
polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride,
polystyrene, and others, for perfume and fragrances packaging is estimated to fuel
the market over the forecast period. Also, the availability of inexpensive body
mists, body splashes, and cologne body sprays, as well as the rising popularity
of lighter-scented products, especially among the millennial population, are
predicted to enhance sales of perfume and fragrance items and drive the perfume
and fragrances packaging industry in developed economies.
COVID – 19 Impact:
COVID-19 has not
only had a detrimental influence on the global perfumes and fragrances packaging
market, but it has also resulted in a slew of new chances for many private
players to enter the market to meet the inflated demand. Furthermore, COVID-19
has resulted in a dramatic consumer shift, with customers in emerging countries
abandoning brand loyalty in favour of sampling new brands in a low-stock
scenario. According to L'Oréal, the closure of millions of points of sale
(specialty stores, perfumeries, department stores, airport stores, and others)
had a significant impact on the consumption of beauty and personal care
products, including fragrance and perfume, which caused a real crisis of supply,
rather than demand, with consumers temporarily unable to purchase products and
services. However, looking forward towards the current normal situation the
demand for perfumes and fragrances packaging is further estimated to rise over
the forecast period with rising fragrance and perfume production.
Report Coverage
The report " Perfume & Fragrances Packaging Market Report – Forecast (2022-2027)" by IndustryARC covers
an in-depth analysis of the following segments of the Perfume & Fragrances Packaging industry.
Key Takeaways
- The Asia-Pacific region dominates the Perfume & Fragrances Packaging Market due to the rising growth of the fragrance industry. For instance, in terms of revenue, deodorants dominated the fragrance products market in 2019 with a share of almost 60%, followed by perfumes at 32.14% as per Invest India.
- Increased per capita income, combined with consumer spending on luxury grooming items, provides a boost to the total cosmetics business, propelling the Perfume & Fragrances Packaging Market even further.
- Currently, rising launch of the glass based perfume and fragrances bottle has uplifted the growth of the Perfume & Fragrances Packaging Market. For instance, in 2021, Coty's Calvin Klein Fragrances launched Calvin Klein Defy in the men's market. The masculine and woody fresh perfume, which contains notes of bergamot, fresh lavender absolute, and vetiver oil responsibly produced from Haiti, is encased in a sleek, minimalist glass bottle with curving rounded edges and strong linear lines.
Figure: Asia-Pacific Perfume & Fragrances Packaging Market Revenue, 2021-2027 (US$ Billion)
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Perfume & Fragrances Packaging Market Segment Analysis – By Material Type
Glass dominated the Perfume & Fragrances Packaging Market in 2021 and is expected to
continue their dominance over the period 2022-2027. With more and more brands
appearing in the perfume industry, perfume packaging has also become an
important factor in increasing business growth. Glass has been the material of
choice for the majority of perfume bottle producers. Perfume bottles made up of
glass have been considered to be of extremely luxurious standards due to their
well-shaped curves and high reflection power. Rising launches for perfume and
fragrances glass bottles have raised the growth of the perfume and fragrances
packaging industry. For instance, in October 2020, at Cosmoprof Asia Digital
Week, Fairdale Packaging Group launched its new concept perfume bottles. The
new package design solution include a new line of concept perfume bottles that
reveals innovative technology and design which is estimated to affect the
packaging industry in the future. The new idea perfume bottles are constructed
of glass and have a design concept that abandons the usual life-based adorning
style. Thus, with the rising demand for perfume and fragrances glass bottles
the market is estimated to increase at the fastest rate throughout the
projection period.
Perfume & Fragrances Packaging Market Segment Analysis – By Packaging Type
The primary
packaging sector dominated the Perfume & Fragrances Packaging Market in 2021 and is projected to grow at a CAGR of 7.8% during 2022-2027. Owing to
the continuous preference for fragrances, the primary packaging category is
projected to maintain its market preference among various packaging types.
Primary packaging is frequently aimed at the end user or consumer. It not only
makes it easier for customers to handle things, but it also makes them more
appealing and can be utilized for communication reasons to impart written
information about the products to consumers. For instance, in the case of beer,
both the container containing the liquid and the label are considered primary packaging.
Additionally, primary packaging is critical for extending the shelf life. If it
is faulty, the product may spoil. Even for non-perishable items, improper
packaging runs the danger of destroying fragile products or conveying the wrong
message to consumers about the quality of your brand. Thus, with the rising need for primary packaging in the
perfume and fragrances industry the market is estimated to see an upsurge in the forecast era.
Perfume & Fragrances Packaging Market Segment Analysis – By Geography
Asia-Pacific region dominated the Perfume & Fragrances Packaging Market with a share of 46.9% in 2021. The market in the region is witnessing expansion with the growth of perfume and fragrance industry in emerging economies such as China, India, and Japan. For instance, in February 2022, a distinct 'Made in India' perfume inspired by Indian spices and traditional scents, made in the country's perfume capital Kannauj, was released in New York in a first-of-its-kind effort to bring India's historic fragrance industry to the global arena. Currently, with the rising growth of the fragrance and cosmetics industry in India, the Perfume & Fragrances Packaging Market is also estimated to see substantial growth in the forecast period. For instance, fragrance products, which include perfumes, deodorants, and colognes, have emerged as vital personal care items in recent years. The Indian perfumes and deodorants market was worth US$970 million in 2019 and is expected to exceed US$2 billion by 2025, increasing at a CAGR of more than 13%.
Perfume & Fragrances Packaging Market Drivers
Continuous Launch of New Fragrances
The market demand for global perfume and fragrances packaging is
expected to be driven with the continuous launch of new perfume and fragrances
across various regions. Rising personal hygiene awareness, as well as the
availability of a diverse product range in retail stores, are some of the major
drivers fueling demand for perfumes. Deodorants are also gaining popularity due
to their characteristics, convenience of use, and long-lasting effect. Rising
launch of new perfumes and fragrances in the market has also uplifted the
demand for global perfume and fragrances packaging. For instance, Marc Jacobs
International and Marc Jacobs Fragrances, a division of Coty Inc., announced
the launch of Perfect Marc Jacobs, the brand's latest women's fragrance, in
October 2020. Also, L'Oréal Luxe
bought the Mugler and Azzaro brands in April 2020. These two signatures, which
have a long history of combining fashion and fragrance, are a natural fit for
the Group's brand portfolio. Despite lockdowns and remote working, the new
teams were welcomed inside L'Oréal and successfully debuted their first new
fragrance, Angel Nova. Furthermore,
in April 2022, Experimental Perfume Club (EPC) introduced Rhubarbe Orientale, a
new ephemeral scent available only from EPC (online and in store). This green
yet comforting aroma evokes a lush springtime garden brimming with fragrant,
sun-kissed leaves and blossoms. Emmanuelle Mogelin, the brand's Founder and
Head Perfumer, has produced a fresh new take on springtime perfume. As a
result, with the rapid expansion of several new perfumes and fragrances, the
market is estimated to grow over the forecast period.
Perfume & Fragrances Packaging Market Challenges
Drawbacks Associated with Perfume And Fragrances Packaging Materials
There
are various drawbacks associated with perfume and fragrances packaging
materials such as plastics and glass. For glass packaging usually the
transportation costs are higher than plastic. Glass is even known to be
substantially heavier than plastic, which can result in increased
transportation expenses both from the factory and while transporting the
finished product to its final destination. Also, glass production consumes a
lot of energy and is very fragile. Because of the sharp shards, it can be
exceedingly deadly when broken.
Similarly, in the case of plastics it deteriorates with time resulting in quick absorption of fragrances. Additionally, significant environmental and health consequences has limited the use of plactics in the perfume and fragrances packaging which has affected the overall market expansion.
Global Perfume And Fragrances Packaging Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Perfume & Fragrances Packaging Market. Global perfume and fragrances packaging top 10 companies include:
- Guangzhou Jiaming Perfume Packaging Co. ltd.
- Hangzhou Tianhao Plastic Industry Co. Ltd
- Olila Enterprise company limited
- Mei Yu Packaging (HK) Industrial Co., Ltd.
- Gerresheimer AG
- ALBEA
- Piramal Glass Private Limited
- SGB Packaging Group Inc. (TricorBraun)
- General Converting, Inc
- Continental Bottle Ltd. and Others.
Recent Developments
- In July 2021, TricorBraun announced the acquisition of SGB Packaging Group, Inc., based in New Jersey, bolstering the company's footprint in the fast-growing cosmetics, skin care, fragrance, and personal care industries. Furthermore, the acquisition broadens TricorBraun's global supply network.
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LIST OF TABLES
1.Global Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)2.Global Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Perfume and Fragrances Packaging Market, by Type Market 2023-2030 (Volume/Units)
4.Global Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)
6.North America Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)
8.South America Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)
10.Europe Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)
12.APAC Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Perfume and Fragrances Packaging Market, by Type Market 2023-2030 ($M)
14.MENA Perfume and Fragrances Packaging Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
LIST OF FIGURES
1.US Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)2.Canada Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
6.Peru Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
8.Chile Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
10.UK Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
11.Germany Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
12.France Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
13.Italy Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
14.Spain Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
16.China Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
17.India Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
18.Japan Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global Perfume And Fragrances Packaging Industry Market Revenue, 2023-2030 ($M)
21.North America Global Perfume And Fragrances Packaging Industry By Application
22.South America Global Perfume And Fragrances Packaging Industry By Application
23.Europe Global Perfume And Fragrances Packaging Industry By Application
24.APAC Global Perfume And Fragrances Packaging Industry By Application
25.MENA Global Perfume And Fragrances Packaging Industry By Application