The home care packaging market was valued at USD 94.45 billion in 2020 and is expected to reach USD 160.96 billion by 2026 and grow at a CAGR of 8.5% over the forecast period (2021-2026) . Packaging trends such as low cost, ease of use and ease of storage remained the main consumer trends during the review period. Small formats, affording an affordable price to the entire consumer base, have become more favorable alternatives among brand owners to gain a competitive advantage in the market.
Increased health awareness, improved living standards and increased per capita income of people, especially in developing countries, like India and Thailand, are some of the factors that are boosting the growth in the home care sector.
According to the International Monetary Fund (IMF), GDP per capita was $ 1,481.56 in 2012. It rose to $ 1,852.09 in 2017 and is expected to reach $ 2,791.07 by the end of 2022. As a result of this increase in GDP per capita, the purchasing power of consumers has increased, which ultimately drives the demand for home care products.
In addition, a continued focus on health and wellness has been observed in the consumer goods industry, from packaged food and personal hygiene to home cleaning, involves a wider lifestyle change. and changing attitudes towards home care.
Main market trends
The flexibility, strength and durability of plastic make it ideal for packaging
The wide use of plastic in all major types of packaging creates a market for plastic as a material. The flexibility, strength and durability of the material make it ideal for packaging many liquids, creams and powder products in the industry. Compared to other materials available in the market, plastic remains very flexible and can be molded into any shape. Growing demand from the retail sector, increasing dual income households and growing demand for PET bottles are the main drivers for plastic products.
In addition to its favorable properties, innovations, such as tamper-evident caps and closures, are gaining popularity, which can lead to crucial added value for brand owners. This has led to the use of plastics in a variety of products.
In addition, there is a gradual shift in customer preference towards adopting flexible plastic packaging over its rigid counterpart, due to convenience and durability concerns. Flexible plastic packaging materials are 80% lighter in weight than their rigid plastic counterparts, in addition to being less expensive.
However, environmental concerns associated with plastics have caused market growth to slow over the past decade.
Nevertheless, with the advent of biodegradable plastics and the recycling process of plastics are expected to maintain their use in the packaging world.
Asia-Pacific is the demand leader in the home care packaging market
The home care products industry in Asia-Pacific is expected to dominate the industry due to increasing population, new demand for home care products and changing lifestyles. Growth in this region is expected primarily in developing markets, such as India and China, due to strong growth in retail sales. A higher percentage of growth in sales of consumer goods and an increase in consumer spending are the main factors driving the home care products industry.
The FMCG industry in India has significantly contributed to the growth of home care products in the country. According to the IBEF, the FMCG market in India is expected to experience a CAGR of 20.6% and is expected to reach USD 103.7 billion by 2020 from USD 49 billion in 2016.
The toilet cleaners are largely aimed at the urban and semi-urban markets of the country. Government initiatives, such as “SwachBharath”, are major catalysts for the toilet cleaner market.
Additionally, Australia’s Home Care Package Program provides seniors with access to a range of ongoing personal, supportive and clinical care services that assist them in their daily activities. Growing health awareness is a key factor in the growth of the floor cleaning product category in the country.
This program is part of the Australian Government’s continuum of care for the elderly in Australia, providing services between the Commonwealth Home Support Program and retirement homes.
The home care packaging market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a large share of the market focus on expanding their customer base in foreign countries. These companies are leveraging strategic collaborative initiatives to increase market share and increase profitability.
April 2019 – RPC Promens launched its Varibox IBC in the UK and Ireland, providing the ideal solution for the safe and cost-effective handling of hazardous chemicals. Roto-molded from polyethylene, the Varibox features an inner container enclosed in a sturdy outer cover and incorporates a special discharge valve for easy dispensing of product without the need to remove a cap. To meet the specific needs of the UK and Irish markets, the standard 2-way secure entry pallet has been increased with the availability of a 4-way secure entry version, allowing even greater flexibility in the movement of the container by a forklift or pallet. jack without compromising on safety.
December 2017 – Winpak Ltd announced that American Biaxis Inc. (ABI) has started work on an expansion to add an annual production capacity of 11,000 to 14,000 metric tons of Biaxially Oriented Polyamide (BOPA) films for sale in America North. The subsidiary plans to invest more than 40 million USD on the project, including installation and equipment. BOPA’s additional film production is expected to be available to customers in the second half of 2019.
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Main topics covered:
1. INTRODUCTION 1.1 Study deliverables 1.2 Scope of the study 1.3 Study hypotheses
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS 4.1 Market overview 4.2 Introduction to Market Drivers and Constraints 4.3 Market factors 4.3.1 Product innovation, differentiation and branding 4.3.2 The increase in per capita income has a positive impact on purchasing power 4.4 Market constraints 4.4.1 Fluctuations in commodity prices 4.5 Industry Attractiveness – Porter’s Five Forces Analysis 4.5.1 Threat of new entrants 4.5.2 Bargaining power of buyers / consumers 4.5.3 Bargaining Power of Suppliers 4.5.4 Threat of Substitute Products 4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION 5.1 By material 5.1.1 Plastic 5.1.2 Paper 5.1.3 Metal 5.1.4 Glass 5.2 By type 5.2.1 Bottles 5.2.2 Metal boxes 5.2.3 Boxes 5.2.4 Pockets 5.2.5 Other types 5.3 By products 5.3.1 Dishwasher 5.3.2 Insecticides 5.3.3 Laundry care 5.3.4 Toiletries 5.3.5 Polish 5.3.6 Air maintenance 5.3.7 Other products 5.4 Geography 5.4.1 North America 5.4.2 Europe 5.4.3 Asia-Pacific 5.4.4 Latin America 5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE 6.1 Company profiles 6.1.1 Amcor PLC 6.1.2 Ball Corporation 6.1.3 RPC group 6.1.4 Winpak Ltd 6.1.5 AptarGroup Inc. 6.1.6 Sonoco Product Company 6.1.7 Silgan Holdings 6.1.8 Tetra Laval International SA 6.1.9 DS Smith API 6.1.10 Can-Pack SA 6.1.11 ProAmpac