Perfume & Fragrances Packaging Market - Forecast(2023 - 2028)

Perfume & Fragrances Packaging Market Overview

Perfume & Fragrances Packaging Market size is forecast to reach US$12.5 billion by 2027, after growing at a CAGR of 7.3% during 2022-2027. Fashion trends, which are unpredictable and constantly changing, have a major impact on the growth of the fragrances and perfumes business. As a result, prominent market participants are concentrating their efforts on creating intriguing, unique, and innovative fragrances to appeal to a variety of consumer groups around the world. Globally, the increasing usage of plastic materials such as polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, polystyrene, and others, for perfume and fragrances packaging is estimated to fuel the market over the forecast period. Also, the availability of inexpensive body mists, body splashes, and cologne body sprays, as well as the rising popularity of lighter-scented products, especially among the millennial population, are predicted to enhance sales of perfume and fragrance items and drive the perfume and fragrances packaging industry in developed economies.

COVID – 19 Impact:

COVID-19 has not only had a detrimental influence on the global perfumes and fragrances packaging market, but it has also resulted in a slew of new chances for many private players to enter the market to meet the inflated demand. Furthermore, COVID-19 has resulted in a dramatic consumer shift, with customers in emerging countries abandoning brand loyalty in favour of sampling new brands in a low-stock scenario. According to L'Oréal, the closure of millions of points of sale (specialty stores, perfumeries, department stores, airport stores, and others) had a significant impact on the consumption of beauty and personal care products, including fragrance and perfume, which caused a real crisis of supply, rather than demand, with consumers temporarily unable to purchase products and services. However, looking forward towards the current normal situation the demand for perfumes and fragrances packaging is further estimated to rise over the forecast period with rising fragrance and perfume production.

Report Coverage

The report " Perfume & Fragrances Packaging Market Report – Forecast (2022-2027)" by IndustryARC covers an in-depth analysis of the following segments of the Perfume & Fragrances Packaging industry.

Key Takeaways

• The Asia-Pacific region dominates the Perfume & Fragrances Packaging Market due to the rising growth of the fragrance industry. For instance, in terms of revenue, deodorants dominated the fragrance products market in 2019 with a share of almost 60%, followed by perfumes at 32.14% as per Invest India. 
• Increased per capita income, combined with consumer spending on luxury grooming items, provides a boost to the total cosmetics business, propelling the Perfume & Fragrances Packaging Market even further.
• Currently, rising launch of the glass based perfume and fragrances bottle has uplifted the growth of the Perfume & Fragrances Packaging Market. For instance, in 2021, Coty's Calvin Klein Fragrances launched Calvin Klein Defy in the men's market. The masculine and woody fresh perfume, which contains notes of bergamot, fresh lavender absolute, and vetiver oil responsibly produced from Haiti, is encased in a sleek, minimalist glass bottle with curving rounded edges and strong linear lines.

Figure: Asia-Pacific Perfume & Fragrances Packaging Market Revenue, 2021-2027 (US$ Billion)

Perfume & Fragrances Packaging Market Segment Analysis – By Material Type

Glass dominated the Perfume & Fragrances Packaging Market in 2021 and is expected to continue their dominance over the period 2022-2027. With more and more brands appearing in the perfume industry, perfume packaging has also become an important factor in increasing business growth. Glass has been the material of choice for the majority of perfume bottle producers. Perfume bottles made up of glass have been considered to be of extremely luxurious standards due to their well-shaped curves and high reflection power. Rising launches for perfume and fragrances glass bottles have raised the growth of the perfume and fragrances packaging industry. For instance, in October 2020, at Cosmoprof Asia Digital Week, Fairdale Packaging Group launched its new concept perfume bottles. The new package design solution include a new line of concept perfume bottles that reveals innovative technology and design which is estimated to affect the packaging industry in the future. The new idea perfume bottles are constructed of glass and have a design concept that abandons the usual life-based adorning style. Thus, with the rising demand for perfume and fragrances glass bottles the market is estimated to increase at the fastest rate throughout the projection period.

Perfume & Fragrances Packaging Market Segment Analysis – By Packaging Type

The primary packaging sector dominated the Perfume & Fragrances Packaging Market in 2021 and is projected to grow at a CAGR of 7.8% during 2022-2027. Owing to the continuous preference for fragrances, the primary packaging category is projected to maintain its market preference among various packaging types. Primary packaging is frequently aimed at the end user or consumer. It not only makes it easier for customers to handle things, but it also makes them more appealing and can be utilized for communication reasons to impart written information about the products to consumers. For instance, in the case of beer, both the container containing the liquid and the label are considered primary packaging. Additionally, primary packaging is critical for extending the shelf life. If it is faulty, the product may spoil. Even for non-perishable items, improper packaging runs the danger of destroying fragile products or conveying the wrong message to consumers about the quality of your brand. Thus, with the rising need for primary packaging in the perfume and fragrances industry the market is estimated to see an upsurge in the forecast era.

Perfume & Fragrances Packaging Market Segment Analysis – By Geography

Asia-Pacific region dominated the Perfume & Fragrances Packaging Market with a share of 46.9% in 2021. The market in the region is witnessing expansion with the growth of perfume and fragrance industry in emerging economies such as China, India, and Japan. For instance, in February 2022, a distinct 'Made in India' perfume inspired by Indian spices and traditional scents, made in the country's perfume capital Kannauj, was released in New York in a first-of-its-kind effort to bring India's historic fragrance industry to the global arena. Currently, with the rising growth of the fragrance and cosmetics industry in India, the Perfume & Fragrances Packaging Market is also estimated to see substantial growth in the forecast period. For instance, fragrance products, which include perfumes, deodorants, and colognes, have emerged as vital personal care items in recent years. The Indian perfumes and deodorants market was worth US$970 million in 2019 and is expected to exceed US$2 billion by 2025, increasing at a CAGR of more than 13%.

Perfume & Fragrances Packaging Market Drivers

Continuous Launch of New Fragrances

The market demand for global perfume and fragrances packaging is expected to be driven with the continuous launch of new perfume and fragrances across various regions. Rising personal hygiene awareness, as well as the availability of a diverse product range in retail stores, are some of the major drivers fueling demand for perfumes. Deodorants are also gaining popularity due to their characteristics, convenience of use, and long-lasting effect. Rising launch of new perfumes and fragrances in the market has also uplifted the demand for global perfume and fragrances packaging. For instance, Marc Jacobs International and Marc Jacobs Fragrances, a division of Coty Inc., announced the launch of Perfect Marc Jacobs, the brand's latest women's fragrance, in October 2020. Also, L'Oréal Luxe bought the Mugler and Azzaro brands in April 2020. These two signatures, which have a long history of combining fashion and fragrance, are a natural fit for the Group's brand portfolio. Despite lockdowns and remote working, the new teams were welcomed inside L'Oréal and successfully debuted their first new fragrance, Angel Nova. Furthermore, in April 2022, Experimental Perfume Club (EPC) introduced Rhubarbe Orientale, a new ephemeral scent available only from EPC (online and in store). This green yet comforting aroma evokes a lush springtime garden brimming with fragrant, sun-kissed leaves and blossoms. Emmanuelle Mogelin, the brand's Founder and Head Perfumer, has produced a fresh new take on springtime perfume. As a result, with the rapid expansion of several new perfumes and fragrances, the market is estimated to grow over the forecast period.

Perfume & Fragrances Packaging Market Challenges

Drawbacks Associated with Perfume And Fragrances Packaging Materials

There are various drawbacks associated with perfume and fragrances packaging materials such as plastics and glass. For glass packaging usually the transportation costs are higher than plastic. Glass is even known to be substantially heavier than plastic, which can result in increased transportation expenses both from the factory and while transporting the finished product to its final destination. Also, glass production consumes a lot of energy and is very fragile. Because of the sharp shards, it can be exceedingly deadly when broken.

Similarly, in the case of plastics it deteriorates with time resulting in quick absorption of fragrances. Additionally, significant environmental and health consequences has limited the use of plactics in the perfume and fragrances packaging which has affected the overall market expansion.

Global Perfume And Fragrances Packaging Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Perfume & Fragrances Packaging Market. Global perfume and fragrances packaging top 10 companies include:

1. Guangzhou Jiaming Perfume Packaging Co. ltd.
2. Hangzhou Tianhao Plastic Industry Co. Ltd
3. Olila Enterprise company limited
4. Mei Yu Packaging (HK) Industrial Co., Ltd.
5. Gerresheimer AG
6. ALBEA
7. Piramal Glass Private Limited
8. SGB Packaging Group Inc. (TricorBraun)
9. General Converting, Inc
10. Continental Bottle Ltd. and Others.

Recent Developments

• In July 2021, TricorBraun announced the acquisition of SGB Packaging Group, Inc., based in New Jersey, bolstering the company's footprint in the fast-growing cosmetics, skin care, fragrance, and personal care industries. Furthermore, the acquisition broadens TricorBraun's global supply network.

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