IMARC Group's latest report, titled "Home Care Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global home care packaging market size reached US$ 96.2 Billion in 2022. Home care packaging is designed to ensure the safety and preservation of the contents using strong and durable materials that protect against microbial contamination and maintain the quality of the products. It also provides improved convenience, security, and efficiency during the storage and transportation of numerous home care goods. It is widely available in various sizes, colors, and materials to suit the needs of different product types. At present, home care packaging finds extensive applications in creating a brand image and identity across the globe.
Global Home Care Packaging Market Trends:
The rising adoption of compact packages due to their affordability, ease of usage, and storage represents the primary factor driving the market growth. Moreover, the increasing focus on consumer-oriented packaging production and shifting consumer preferences toward flexible packaging are positively influencing market growth. Apart from this, governments of numerous countries are offering lucrative tax exemptions to companies that adopt sustainable manufacturing practices. As a result, the rising use of recycled plastics and refill pouches to reduce the environmental impact has catalyzed market growth. Additionally, the integration of advanced technologies, such as artificial intelligence (AI), near field communication (NFC), and radio frequency identification (RFID), that help in improving smart packaging services, including preventing counterfeits, offering accurate information about inventory tracking, and enabling consumers to track goods using smartphones represents another major growth-inducing factor. Besides this, continual technological advancements in packaging and the ability to offer a high aesthetic value to products are propelling the market growth. Furthermore, the rising availability of affordable smaller pack sizes that help consumers in stocking a wide range of products is contributing to market growth. In line with this, the escalating need for cleaning agents, sanitizers, disposable gloves, and masks, especially amid the sudden coronavirus (COVID-19) disease outbreak, has augmented product demand. Other factors, including increasing consumer awareness about health and wellness, improving living standards, and rapid urbanization, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 126.7 Billion by 2028, expanding at a CAGR of 4.5% during 2023-2028.
- Based on the product, the market has been divided into dishwashing products, insecticides, laundry care products, toiletries, polishes, air care products, and others.
- On the basis of the material type, the market has been categorized into plastic, paper, metal, glass, and others.
- The market has been segmented based on the packaging type into bottles, metal cans, cartons, pouches, and others,
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Amcor Plc, AptarGroup Inc., Ball Corporation, DS Smith Plc, Mondi Group, ProAmpac, Silgan Holdings, Sonoco Products Company, Tetra Laval International SA, and Winpak Ltd. (Wihuri Packaging Oy).
|Base Year of the Analysis
||Product, Material Type, Packaging Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amcor Plc, AptarGroup Inc., Ball Corporation, DS Smith Plc, Mondi Group, ProAmpac, Silgan Holdings, Sonoco Products Company, Tetra Laval International SA and Winpak Ltd. (Wihuri Packaging Oy)
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