According to the latest report by IMARC Group, titled,” Home Care Packaging Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027,” The global home care packaging market share reached US$ 91.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 122.0 Billion by 2027, exhibiting a growth rate (CAGR) of 4.66% during 2022-2027.
Home Care Packaging Industry in Bihar Definition and Application:
With the inflating income levels and increasing awareness about overall health and wellbeing, there is a considerable rise in the adoption of home care products around the world. These products are available in packaging solutions of different sizes, colors, ranges, and material types. Home care packaging solutions offer convenience and security during the storage and transportation of products. They ensure effective utilization and maximum efficiency of products and help protect and safeguard the contents from microbial contamination. They also assist brands in building their brand image.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Home Care Packaging Market Trends and Drivers:
The growing adoption of compact packages due to their affordability and ease of usage and storage represents one of the key factors driving the market. Moreover, a shift in consumer preferences towards flexible packaging, in confluence with the increasing focus on consumer-oriented packaging production, is strengthening the growth of the market. Aside from that, as environmental concerns grow, governments in a number of countries are offering tax breaks to businesses that use innovative and sustainable manufacturing methods. This is encouraging companies to use recycled plastics and provide refill pouches for minimizing their ecological footprint.
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Home Care Packaging Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amcor Plc, AptarGroup Inc., Ball Corporation, DS Smith Plc, Mondi Group, ProAmpac, Silgan Holdings, Sonoco Products Company, Tetra Laval International SA, and Winpak Ltd. (Wihuri Packaging Oy).
The report has segmented the market on the basis on region, product, material type and packaging type.
Breakup by Product: