PUBLISHER: The Business Research Company | PRODUCT CODE: 1245840
PUBLISHER: The Business Research Company | PRODUCT CODE: 1245840
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“Home Care Packaging Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on home care packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for home care packaging ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The home care packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
* The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
* The impact of higher inflation in many countries and the resulting spike in interest rates.
* The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the home care packaging market are: Amcor PLC., Sonoco Products Company, Ball Corporation, RPC Group, Winpak Ltd., AptarGroup Inc., Silgan Holdings, DS Smith PLC, Can-Pack SA, ProAmpac LLC, Mondi, Tetra Laval, and Constantia Flexibles Group GmbH.
The global home care packaging market grew from $101.27 billion in 2022 to $112.53 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home care packaging market is expected to grow to $156.64 billion in 2027 at a CAGR of 8.6%.
The home care packaging market includes revenues earned by entities by providing packaging to maintain your standards of personal hygiene and grooming, take care of and keep an eye on any medical conditions at home, and keep moving and mobile. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Home care packaging refers to a package delivered to someone in need that includes food, clothing, or other basics, usually employed for the protection of all household goods and materials. They are produced with stable materials to preserve and safeguard the contents from microbial contamination while maintaining their quality.
Asia-Pacific was the largest region in the home care packaging market in 2022. The regions covered in home care packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of home care packaging are bottles and containers, metal cans, cartons, corrugated boxes, pouches and bags, and others. A bottle is a rigid or semi rigid container with a small neck that is typically used to carry liquids and semi liquids. To protect the contents from spillage, evaporation, or contact with foreign chemicals, it generally features a tight-fitting stopper or cap. The material used in home care packaging is plastic, paper, metal, and glass that can be used in dishwashing, insecticides, laundry care, toiletries, polishes, air care, and others.
Increasing health awareness is contributing to the growth of the home care packaging market. People's health awareness has improved due to the COVID-19 epidemic, which has led to greater usage of disinfectants globally in public buildings, transportation, hospitals, nursing homes, wastewater treatment facilities, and even common families to reduce the virus load. As a result, there has been a surge in demand for home care packaging products such as detergents, surface cleaners, air fresheners, and other such items. For instance, according to P&G, a US-based consumer goods corporation, in 2020 home care products including detergents, surface cleaners, and air fresheners have been increased by nearly 30% in every region. In addition, 59% of US consumers and 52% of UK consumers are using disinfectants and other cleaning products in 2020. Therefore, increasing health awareness is expected to propel the growth of the home care packaging market going forward.
Collaborations and partnerships have emerged as a key trend in the home care packaging market. Major companies operating in the home care packaging sector are focused on strategic collaborations and partnerships to expand their reach and meet consumer demand. For instance, in December 2021, Sonoco, a US-based packaging company acquired Ball Metalpack, a US-based company that produces aerosol cans, closures, and other packaging components for $1.35 billion in cash. This acquisition will boost Sonoco's consumer packaging division. Additionally, in August 2020, Sonoco, a US-based packaging company acquired Can Packaging, a France-based company that manufactures sustainable paper packaging for $49 million. Sonoco gains numerous new inventions as a result of this strategic acquisition, including patented technology for producing a recyclable, high-performance all-paper package that can be created in any shape, including round, square, rectangular, oval, oblong, or triangular.
In January 2022, Berlin Packaging, a US- based supplier of packaging services, acquired Premi for an undisclosed amount. With this acquisition, Berlin's product offering is expanded in the crucial cosmetic and beauty industries. Berlin Packaging would take over all of Premi's personnel and operations as part of this agreement. Berlin will provide our customers with solutions that are unmatched thanks to its combined footprint and capabilities. Premi is an Italy-based cosmetic packaging company.
The countries covered in the home care packaging market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The home care packaging market research report is one of a series of new reports from The Business Research Company that provides home care packaging market statistics, including home care packaging industry global market size, regional shares, competitors with a home care packaging market share, detailed home care packaging market segments, market trends and opportunities, and any further data you may need to thrive in the home care packaging industry. This home care packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.