Global Airless Packaging Market was valued at $4,046.0 million in 2016 and is expected to reach at $5,938.0 million by 2023, growing at a CAGR of 5.9% during the forecast period. Europe accounted for more than one-third of the market share in 2016 and is expected to witness significant growth during the forecast period.
An airless packaging system is a non-pressurized device that uses a dispensing pump, provides high restitution rate & low wastage, and avoids backflow of air in the system. The demand for airless packaging products has increased, owing to the increased demand for natural and organic products globally, a rise in sales of homecare products due to modernization, and growth in its applicability in the personal care & food & beverages. In addition, government regulations and legislation for reducing pollutants and increased awareness about eco-friendly products are expected to propel the market growth. However, high production cost airless packaging products pose a threat to the market growth.
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Key Findings of the Airless Packaging Market:
•The bottles & jars segment dominated the market, in terms of revenue, in packaging type segment, and is projected to grow at a CAGR of 5.0% during the forecast period.
•Personal care segment generated the highest revenue in 2016, and is estimated to grow at the highest growth rate of 5.3%.
•In 2016, Europe was the dominant region in terms of revenue, but LAMEA is anticipated to grow at the highest CAGR in the market.
•U.S. was the revenue generating country in North America airless packaging market, accounting for around 55.48% of the market share in the region in the year 2016.
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Key Market Players Profiled In The Report
•ABC Packaging Ltd.
•Libo Cosmetics Company, Ltd.
•Silgan Dispensing Systems
Market players have developed new ways to offer recyclable products and reduce wastage of the products. Airless packaging ensures high restitution rate and almost 95% of the product evacuation, which make it an ideal choice of packaging for manufacturers. For instance, Herbfarmacy introduced a new range of airless pump recyclable packaging to the airless packaging market, which includes whole body lotion, wash-off cleansing mousse, and four face creams.
Growing demand for beauty care products with advanced properties and the numerous advantage of using airless packaging system drive the market growth. The proliferated growth of the cosmetics and pharmaceutical industries is expected to propel the demand for airless packaging market.
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