Airless Packaging Market to Capitalize on Vast Opportunities in Europe

The presence of a number of a prominent players renders high competition in the global airless packaging market, observes Transparency Market Research (TMR) in a new study.

HCP Packaging, Westrock, LUMSON SPA, and Aptar Group Inc. are to name some of the key names in the global airless packaging market. The focus of these companies is to capitalize on the opportunities arising in Europe as the region is home to a sizeable number of manufacturing units for airless packaging. In addition, big names in the market also see plastic to be viable for airless packaging, thus the use of plastic is expected to be on the rise for airless packaging.

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A report by Transparency Market Research forecasts the global airless packaging market will present an opportunity worth US$6.34 bn by the end of 2024 increasing from its evaluated worth of US$4.13 bn in 2016 at a CAGR of 5.5% between 2016 and 2024.

The segments of the global airless packaging market based on material type are glass and plastic. Of the two, plastics is preferred among end-users of airless packaging.

The segment is expected to maintain its lead position over the forecast period due to its easy availability and its versatile properties that make it suitable for airless packaging.

In terms of geography, Europe is anticipated to hold on to its dominant position in the global airless packaging market over the forecast period. The region is expected to register a CAGR of 5.1% between 2016 and 2024.

The region displays a high demand for airless packaging on account of a number of research and development pursuits for efficient packaging solutions.

Personal Care Industry to Offer Application Opportunities
“The zero-wastage benefit of airless packaging that has the potential to bring about noteworthy transformation in a number of industry verticals, in particular the personal care and cosmetics industry, is the primary factor acting in favor of the airless packaging market,” says the lead analyst of the study.

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Some of the key manufacturers of makeup and personal care products such as Nivea, Oriflame, Olay, and L'Oreal are employing airless packaging solutions and are gathering an exceedingly favorable response from clients as it has greatly enabled access to content in a given package.

The appeal of airless packaging for minimizing the space taken is also a key factor boosting the uptake of airless packaging. For instance, employing airless packaging for items such as airless pumps enables access to as much as 95 percent of the content in a container, which is substantially higher than what is attained using traditional pumps.

Insufficient Amount of Valuable Consumer Opinion Statistics Hinders Uptake
On the flip side, the extreme low rate of product differentiation is one of the key issues that the airless packaging market has been grappling with for quite some time.

This makes it difficult for product manufacturers to attain a significant number of consumer value propositions. The low number of value propositions poses a challenge for vendors to integrate innovations and speed up their development procedure as they are unable to make out if it provides advantage to consumers.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.