Perfume Packaging Market - Lucrative Opportunities Across Globe
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Perfume Packaging Market: Drivers & Restraints
One of the major factor which is fueling the growth of perfume packaging market is e-retailing. E-retailing facilitates the availability of local and foreign brands through online portals. The key players of perfumes packaging are collaborating with leading e-commerce players or have their own e-commerce sites to seize maximum advantage of e-commerce potential. Changing lifestyle in developing countries brings tremendous opportunities for manufacturers of perfume packaging. Increase in per capita income coupled with consumer spending on luxury grooming products offers a momentum to the growth of overall cosmetics industry, which is further driving the perfume packaging market.
Meanwhile, there are a few factors that can act as restraints in the perfume packaging market, like the increasing commercialization of perfume imitations is anticipated to hamper the growth of global perfumes packaging market during the forecast period. In addition, the counterfeit products are available in similar packaging as the original product making it difficult for the consumers to differentiate them from original products. These products are sold at a very low cost compared to the original products.
On the basis of region, perfume packaging finds its market scope in North America, Latin America, Middle East & Africa, Europe and Asia-Pacific. Europe and North America dominates perfume packaging market, however, Latin America and Asia Pacific regions are expected to be the most promising regions for generating high revenue. Perfume Packaging market is highly controlled in Europe and North America. India and China are the key promising countries driving the perfume packaging market in Asia-Pacific region.
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Globally, Chinese consumers have maximum share in the growth of luxury goods markets. Chinese consumer spending in foreign regions is more as compared to local spending on luxury products. China is just behind North America in consumer spending, due to strong currency rates as well as rising disposable income. The spending by Japan has also increased due to local consumers as well as the increasing number of Chinese tourists. The currency fluctuations in Europe has led to rise in tourist consumers in the region which further drives the growth for luxury products including perfume industry.
Perfume Packaging Market: Key Players
Some of the major players of perfume packaging market are SGB Packaging, B.I. Packaging, Cosmetics & Perfume Filling & Packaging, Inc., HH Deluxe Packaging, Collcap Packaging Limited, DuPont, Vetroplas and may more.
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