The fragrance packaging market is projected to grow at a CAGR of 6.92% to reach US$10.007 billion by 2025, from US$6.698 billion in 2019. There is a growing demand for deodorant, fragrances, and other cosmetic products with added fragrances by both men and own, which are looking for enhanced and better products in order to look more attractive and improve their hygiene. In addition, there is an increasing number of men and women that are visiting gyms and fitness centers due to the growing awareness to lead a healthy lifestyle, and this is further boosting the demand for deodorants and fragrances in order to control the sweating and body odor. These factors are thereby leading to increase adoption of fragrance making products and solution and is augmenting the market growth over the forecast period.
The presence of strict packaging and labeling guidelines by government organizations
There are strict guidelines and rules present in the cosmetic industry that regulate how fragrances are packages and are provided by the Food and Drug Administration (FDA). According to the FDA, the fragrances, which come under cosmetics must be FDA-regulated and should be labeled according to the different federal rules and regulations and not breach the Federal Food, Drug, and Cosmetic Act or the Fair Packaging and Labeling Act. Some of the laws include; the ingredients of the fragrance to be listed and should be tested safe fist, i.e the label must contain all the required information (even the smallest information, is to be mentioned, such as if the product is unscented or scented). Some of the other information includes if the product is flammable or not. Thus, these strict laws are encouraging the players to abide by them thus, avoid the penalties and misbranding of their products.
The importance of making use of proper packaging materials in order to avoid the imposition of penalties and incurring losses
The packaging of fragrances is an important step as it one of the factors that decide that amount of units of the fragrance is going to be sold, as it is the first thing that catches the consumers' eye, even before testing the fragrance. In addition, the materials that are used for packaging should be enhanced and of good quality, so they are able to resist different types of damages starches and punctures so that the product quality does not deteriorate. Thus, these factors are encouraging the end-users to make use of different and unique packaging ideas in order to improve their market position and contribute to the market growth.
Product Offerings and Launches by Major Market Players in the Fragrance Packaging Market Space
The offering and launch of better and advanced varieties of Fragrance Packaging with enhanced features such as excellent material quality and durability among other properties by existing and new players in different markets are estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
“Perfume Glass Bottle ABB563-50”, which is able to hold a 50 ml of fragrance in volume and is made of white opal glass. It offers “Perfume Glass Bottle ABB559-30”, which is able to hold 30 ml of fragrance in volume, and is made with opal glass and has a pump sprayer mechanism to disperse the fragrance particles. It also offers a “Spray Glass Perfume Bottle ABB764-50”, which is made using opal glass, is round in shape, and comes with a sprayer and is able to hold 50 ml of fragrance.