Rising Demand For Decorative Bottles Are Fueling Sales Of Perfume Packs

The global perfume pack market is predicted to generate a revenue of US$ 3.6 billion by 2032 as opposed to US$ 2.3 billion in 2022. The target market is slated to record an average CAGR of 4.7% from 2022 to 2032 with the five key market players accounting for 15% to 20% of the overall market share.

Due to the adoption of various foreign cultures and shifts in lifestyle, particularly among millennials, the consumption of perfumes is on the rise worldwide. This factor along with the growing demand for attractive packaging fuels the growth of the perfume pack market during the forecast period.

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Visually appealing packaging solutions for perfumes contribute significantly towards brand awareness. Attractive bottles are not only aesthetically pleasing but also assist the brand in differentiating itself from others and creating a unique position for the product. Similarly, luxury perfumes use premium-quality packaging material to build the look and feel of the bottle. Further, a surge in disposable incomes also ensures that consumers are willing to pay more for stylish bottles for the premium look and feel that is associated with the perfume.

The market for perfume packs is also influenced by the growing demand for the same from voluminous industries like benzyl alcohol, camphor, ethanol, and others. An upsurge in the use of perfumes as an outcome of the popularity and influence of foreign cultures along with changing lifestyles also drives the demand for perfume packs. This rising demand has resulted in manufacturers focusing on expanding their production capacities.

Numerous manufacturers are adopting new techniques and using materials like recyclable plastics to produce more environmentally-friendly products. Since the trends of sustainability and eco-friendly products have gained strength, the use of recyclable plastics and other sustainable practices is drawing more consumers. These consumers are also willing to pay more for sustainable products and packing formats. These considerations are likely to augment the sales of the global perfume pack market during the forecast period.

Key Takeaways:
• The advancing cosmetics and perfumery industry in Spain will push the perfume pack market in this country to record a CAGR of 6.0% between 2022 and 2032.
• The perfume pack market in Germany will reach a value of US$ 199.9 million by 2032 owing to the rapid growth of the cosmetic, beauty, and home care industry.
• By material, the glass segment will witness significantly high growth and account for about 75% of the total market share by 2032.
• Based on product type, standard bottles will grow at a CAGR of 5.3% due to their affordability and easy availability.

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Competitive Landscape
Berry Global Group, Gerresheimer AG, Alpha Packaging, Amcor plc, Stölzle-Oberglas GmbH, H&K Müller GmbH & Co. KG, SGB Packaging, Corpack GMBH, Vetroplas, Quadpack, HCP Packaging, Plásticos FACA S.A, B.I. Packaging, G.M. Overseas, Aptar Group, and Hangzhou ABC Packaging CO. Ltd., among others, are some of the key players in the perfume pack market profiled in the full version of the report.

In a highly competitive atmosphere, leading market players are focusing on capacity expansion and product development strategies. These companies also adopt inorganic growth strategies like partnerships, collaborations, mergers, and acquisitions to enhance their revenue-earning abilities.

More Insights into Perfume Pack Market
FMI offers the latest, unbiased, and detailed analysis of the global perfume pack market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the market potential, growth, and scope, the target market is segmented on the basis of material, product type, capacity, and region.

According to the latest FMI reports, based on segmentation, the glass material category will likely register the most growth; accounting for around 75% of the overall market share by 2032. The glass prevents contamination, ensures a premium look and feel, and provides protection which spurs the demand for the material. In terms of product type, standard bottles will lead the market with a CAGR of 5.3%.

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Based on region, Spain and Germany are two countries estimated to witness high growth during 2022 and 2032. The expanding cosmetic and perfumery industries in Spain and the growing beauty, cosmetic, personal, and home care sectors in Germany will drive the growth of the perfume pack market in these two nations. Thus, the European region will make substantial contributions to the overall market growth during the forecast period.

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This release was published on openPR.