Factors like development in industries like whole sale and retail markets and all the manufacturers driving the homecare packaging market due to the large demand from the consumers.
According to the current analysis of Introspective Market Research, the global Homecare Packaging market was valued at USD 36.90 Billion in 2019 and is expected to reach USD 60.49 Billion by the year 2026, at a CAGR of 7.48%.
Home Care Packaging market is expected to show a high demand and growth in CAGR because of the factors like development in industries like whole sale and retail markets and all the manufacturers driving the market due to the large demand from the consumers. Major market players especially from the chemical industry are raising a high demand for the packaging segment, especially the bottles and cans which is driving the growth of the market and is expected to have a high CAGR in the forecast period. The major market growth for the Homecare Packaging market is due to the growing need in the paint and coatings industry from the manufacturers and major key players of the market.
According to the analyst, increasing demand from the packaging sector due to the high demand for the use of biodegradables and government initiatives for the biohazard waste. The rapid urbanization and the rise in the per capita income is also a driving factor for the growth of the market.
Homecare Packaging Market is growing at a robust pace due to the industry overview and the market size in regions like Asia-Pacific, North-America and Middle Eastern region. Homecare Packaging is segmented by type, application type, end-user industry and regional market size according to the analyst of Introspective market research.
The Homecare Packaging market is segmented by Material (Plastic, Paper, Metal, and Glass), By Homecare Products Type (Dishwashing, Insecticides, Laundry Care, Toiletries, Polishes, Air care and Others), by Packaging Type (Bottles, Cans, Cartons, Jars, Pouches and Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- Mergers and acquisitions, facility expansions and related investments are expected to be the most researched and invested type for the product type, especially melamine formaldehyde which is estimated to have a market size of USD 11.75 billion in 2020 with the highest CAGR of 7.55% are driving the market growth for the Homecare Packaging.
- Many packaging and laundry care manufacturers were affected because of the high demand but less production of the cans and bottles due to the pandemic.
- The packaging and the material segment from the end-user industry have accounted to share a significant market value in the year 2019 and is expected to contribute more in the forecast period.
- The United States holds the largest market share for the consumption of Homecare Packaging as there is a large number of increases in the number of demand and supply chain which is impacting the market.
Key Participants like Amcor PLC, Ball Corporation, RPC Group, Winpak Ltd., Aptar Group Inc., Sonoco Products Company, Silgan Holdings, Tetra Laval International SA., DS Smith PLC, 10 Can-Pack SA, ProAmpac.
For this report, Introspective Market Research have segmented the Homecare Packaging markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM