Airless Packaging Market Trends

Growth Drivers

• Growing Sales of Cosmetics Across the Globe  with Rising Preference for Classy and Elegant Look- It is observed that around 40% of the skincare industry is made of cosmetics segments while the total sale of cosmetics solely in the USA was estimated to be approximately USD 50 billion per year.Cosmetic products are very expensive and need proper maintenance to last long. Slight negligence can ruin the entire essence of the product. That’s the major reason forcing major cosmetics manufacturers to adopt airless packaging. Airless packaging is mostly found in pump form but it can also work with jars, tubes, and others. hence, such a higher requirement is estimated to hike the growth of the market during the forecast period.  
• Higher Consumption of Milk Worldwide in Different Forms- As of 2021, about 80 million metric tons of cow milk were consumed by the global population.
• Rising Inclination toward Deodorants Owing to Rising Grooming Regulations- For instance, in 2020, it was noticed that nearly 300 Americans were using deodorants on a daily basis and the number is further estimated to hit 310 million by the year 2024.
• Increasing Utilization of Nail Care Products with Increasing Self care - In 2022, the total worth of the Nails segment was projected to be around USD 10 billion
• Increasing the Number of Acquisitions and Mergers by Key Players- For example, AptarGroup announced plans to acquire a premium airless and color cosmetics packaging company Fusion Packaging in 2020.

Challenges

• Presence of Alternatives in the Market
• Disrupted Supply-Chain due to COVID-19
• Requirement for Higher Initial Investment The manufacturing units are very expensive to buy and maintenance cost is also very costly. High initial investment in the market is hampering the market growth. The growing investment cannot be afforded by small-scale business people.