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Global Airless Packaging Market Key Insights Acrylic Lotion Bottle
During the forecast period of 2023-2033, the global airless packaging market is expected to reach an estimated value of ~USD 10 billion by 2033, by expanding at a CAGR of ~5%. The market further generated a revenue of ~USD 5 billion in the year 2022. Major key factors propelling the growth of airless packaging market worldwide are the increasing consumption of milk and rising usage of cosmetic products and deodorants.
Market Definition of Airless Packaging
The term “airless packaging” refers to a packaging solution that protects the product from regular air while preserving its quality and shelf life. The product is intended to be kept dry for a longer period of time using airless packaging. Food and beverage packaging, personal and home care, health care, and other industries employ airless packaging. Glass and plastic are the two most popular materials used in airless packaging. Airless packaging aids in preventing oxidation, extending shelf life, providing accurate dosing, and preventing food cross-contamination. When used, airless packaging systems provide accurate dosing every time, especially for more viscous formulas.
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Global Airless Packaging Market: Growth Drivers
The growth of the global airless packaging market can majorly be attributed to the development of new products which are easily recyclable. For instance, ReVive 2cc and 4cc dispensers are being developed, according to Silgan Dispensing Systems. The Association of Plastics Recyclers has endorsed the two goods’ capacity to be recycled (APR). Furthermore, Lifecycle technology is the foundation for both ReVive 2cc and 4cc. On the other hand, the market growth can also be attributed several technological advancements occurring in the field of nuclear medicine is also projected to drive the market growth. For instance, one of the pioneers of manufacturing radioisotopes, known as the Institute for Radioelements (IRE), recently announced that it has produced its first batch of commercial Molybdenum-99 (Mo-99) Low Enriched Uranium (LEU) radioisotope batch for use by medical diagnostic centers in the United States. Moreover, the revolutionary metal-free Mono-Material Airless System Packaging was unveiled by the California-based company Seacliff Beauty. It is nearly entirely made of polyethylene (PE) and makes recycling, collection, and disposal simple. Additionally, it comes in three variants and sugarcane PE.
The global airless packaging market is also estimated to grow majorly on account of the following:
Global Airless Packaging Market: Restraining Factor
There are various alternatives available for airless packaging, supply chain was hampered by the onset of pandemic and higher capital investment in airless packaging manufacturing and production. Hence this factor is expected to be the major hindrance for the growth of the global airless packaging market during the forecast period.
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Global Airless Packaging Market Segmentation
Out of all, the bottles segment is to garner the maximum revenue by the end of 2033. The segment is to grow on the account of higher usage of packaged water bottles followed by higher production of airless packaged bottles. Around 600 million households consumed bottled water in 2018, which represents a significant increase in the market for bottled water globally. More than 391 billion liters of water are consumed annually, or one million bottles every minute. Moreover, around 700 million airtight bottles are expected to be produced globally in total by 2020.
The North America airless packaging market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The market growth in the North America is to expected to grow on the back of rising demand of cosmetic product and higher consumption of milk. In 2020, the US produced 226.2 billion pounds of milk for domestic consumption. Moreover, the beauty and personal care market in the USA was estimated to be worth USD 300 billion by 2020. The typical American household spent around 197 dollars on cosmetics, perfume, and bath products in 2019.
The market research report on global airless packaging also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Airless Packaging Market
Some of the key players of the global airless packaging market are Aptar Group, Inc., Pharma Packaging Solutions, Albéa Services S.A.S., Eastman Chemical Company, Silgan Dispensing Systems, Webpac Ltd, Lumson S.p.A., WestRock Company, HCP Packaging UK Ltd., and others.
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