Health & Hygiene Packaging Market worth $148.0 billion by 2028 Globally, at a CAGR of 5.9 %, says MarketsandMarkets™
Chicago, Feb. 09, 2024 (GLOBE NEWSWIRE) — The Global Health & Hygiene Packaging Market is projected to grow from USD 110.9 billion in 2023 to USD 148.0 billion by 2028, at a CAGR of 5.9% from 2023 to 2028, as per the recent study by MarketsandMarkets™. The surge in urbanization, evolving lifestyles, increased disposable income, a growing preference for sustainable packaging, and global awareness of hygiene are driving the expansion of the health and hygiene packaging market. However, challenges include the elevated costs of raw materials used in manufacturing packaging products like pouches, bags, roll stock, films, and wraps. Additionally, inadequate recycling infrastructure poses a hindrance to the health and hygiene packaging market. Opportunities arise from the rising demand for sustainable packaging, as it emerges as a superior alternative to traditional materials due to heightened hygiene awareness.
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List of Key Players in Health & Hygiene Packaging Market:
- Berry Global (US)
- Amcor Plc (Switzerland)
- WestRock (US)
- Kimberly Clark (US)
Drivers, Restraints, Opportunities and Challenges in Health & Hygiene Packaging Market:
- Drivers: The rising demand for flexible packaging in the personal care & home care sector drives the market.
- Restraints: Recycling of Health and hygiene packaging.
- Opportunity: Growing demand for sustainable packaging.
- Challenges: Swift technological advancements in Health & Hygiene Packaging.
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Key Findings of the Study:
- Primary packaging form is largest growing segment based on shipping form, in terms of value, during the forecast period.
- Rigid Packaging is largest growing segment based on form, in terms of value, during the forecast period.
- North America is largest growing segment based on region, in terms of value, during the forecast period.
The increasing demand for primary packaging formats, such as films & sheets, tubes, and pouches, is driven by various factors. Consumer preferences for convenience and portability are key drivers, especially with the rising popularity of pouches and tubes that provide practical solutions for on-the-go lifestyles. The expansion of e-commerce contributes to a heightened need for sturdy and protective primary packaging to ensure secure transportation. With a growing emphasis on sustainability, the industry is experiencing a transition toward eco-friendly materials, fostering the growth of environmentally conscious primary packaging formats.
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Based on form, the rigid packaging is the largest packaging form in the health & hygiene packaging market in the forecast period. The market is driven by consumer preferences for secure and durable packaging, ensuring product integrity, and driving the demand for rigid containers. These materials offer protection against external elements, enhancing the shelf life of diverse products. The surge in e-commerce activities has also boosted the need for robust packaging solutions. Moreover, heightened environmental awareness is pushing the industry towards sustainable rigid packaging, fostering growth in eco-friendly alternatives, and driving the overall health & hygiene packaging market.
Based on shipping form, primary packaging format is the largest segment in the health & hygiene packaging market during the forecast period. The market growth is attributed to the increasing consumer preferences for convenience and portability propel the popularity of flexible packaging like films, sheets, and pouches. E-commerce expansion contributes to the surge in demand for robust and protective primary packaging to ensure safe transportation.
Based on distribution channels, hypermarkets/ supermarkets will be the leading segment in the health & hygiene packaging market in 2023. The expansive shelf space in hypermarkets and supermarkets allows for a diverse range of personal care and home care products, driving visibility and accessibility. With changing consumer preferences and urbanization trends, the convenience, accessibility, and variety provided by these retail giants contribute significantly to the increasing demand for personal care and home care packaging within their expansive premises.
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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com
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