The fragrance packaging market is estimated to grow at a CAGR of 7.17% to reach a market size of US$10.629 billion in 2027 from US$6.544 billion in 2020.
There is a growing demand for deodorant, fragrances, and other cosmetic products with added fragrances by both men and women, who are looking for enhanced and better products 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 centres due to the growing awareness of leading a healthy lifestyle, and this is further boosting the demand for deodorants and fragrances to control sweating and body odour. These factors are thereby leading to increased adoption of fragrance-making products and solutions and are augmenting the market growth over the forecast period.
The presence of strict packaging and labelling guidelines by government organizations
There are strict guidelines and rules present in the cosmetic industry that regulate how fragrances are packaged and are provided by the Food and Drug Administration (FDA). According to the FDA, fragrances, which fall under cosmetics, must be FDA-regulated and should be labelled 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 for safety first, 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 whether the product is flammable or not. Thus, these strict laws are encouraging the players to abide by them, thus, avoiding the penalties and misbranding of their products.
The importance of making use of proper packaging materials to avoid the imposition of penalties and incurring losses
The packaging of fragrances is an important step as it is one of the factors that decide the number of units of the fragrance that 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 can resist different types of damage, such as starches and punctures so that the product quality does not deteriorate. Thus, these factors are encouraging end-users to make use of different and unique packaging ideas to improve their market position and contribute to market growth.
Product Offerings and Launches by Major Market Players in the Fragrance Packaging Marketspace
The offering and launch of better and more 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 is 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:
Recent Developments and expansions
Gerresheimer AG stated in May 2022 that it would increase its production capacity by building a brand-new, cutting-edge factory in India to produce glass and plastic containers.
The purchase of Pennsylvania-based Anchor Hocking Glass Company by Stoelzle Glass Group, which would enable the business to increase its presence in the North American market, was announced in March 2021.
Due to a decline in demand from a variety of businesses, such as personal care and packaging due to government-imposed lockdowns in most nations, the demand for perfume and cosmetic packaging is anticipated to decline. Because of the global decline in demand for luxury and non-essential services and the suspension of manufacturing, the crisis is anticipated to have a detrimental effect on the cosmetic packaging business. However, the impact of the shutdown has been mitigated by the availability of online purchasing which is expected to recover the market.
|Market size value in 2020||US$6.544 billion|
|Market size value in 2027||US$10.629 billion|
|Growth Rate||CAGR of 7.17% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Material Type, Capacity, Packaging Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||SGB Packaging Group, Gerresheimer AG, Abely Cosmetics Co., Ltd., ZHEJIANG B.I. INDUSTRIAL CO., LTD., Aromatec Packaging manufacturing company, Continental Bottle Ltd., Saverglass, Precision Concepts International, Berlin Packaging, Esobea SRL|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the fragrance packaging market size by 2027?
A1. The fragrance packaging market is projected to reach a market size of US$10.629 billion by 2027.
Q2. What are the growth prospects for the fragrance packaging market?
A2. Fragrance Packaging Market is projected to grow at a CAGR of 7.17% during the forecast period.
Q3. How is the global fragrance packaging market segmented?
A3. The global fragrance packaging market has been segmented by material type, capacity, packaging type, and geography.
Q4. What is the size of the fragrance packaging market?
A4. The fragrance packaging market was valued at US$6.544 billion in 2020.
Q5. What is the base year considered in the fragrance packaging market report?
A5. 2020 has been taken as the base year in the fragrance packaging market report.
SGB Packaging Group
Abely Cosmetics Co., Ltd.
ZHEJIANG B.I. INDUSTRIAL CO., LTD.
Aromatec Packaging manufacturing company
Continental Bottle Ltd.
Precision Concepts International
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.