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Home Care Packaging Global Market Report 2022
Major players in the home care packaging market are Amcor Plc, Sonoco Products Company, Ball Corporation, RPC Group, Winpak Ltd, AptarGroup Inc, Silgan Holdings, DS Smith PLC, Can-Pack SA, ProAmpac LLC, Mondi, Tetra Laval, and Constantia Flexibles Group GmbH.
New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Home Care Packaging Global Market Report 2022" - https://www.reportlinker.com/p06285822/?utm_source=GNW
The global home care packaging market is expected to grow from $89.26 billion in 2021 to $100.5 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The home care packaging market is expected to grow to $140.23 billion in 2026 at a CAGR of 8.7%.
The home care packaging market consists of sales of home care packaging products by entities (organizations, sole traders, and partnerships) that are produced with stable materials to preserve and safeguard the contents from microbial contamination while maintaining their quality. The home care packaging includes packaging of the products that are used for maintaining the hygiene and cleanliness of the households and protecting them from damage during transporting and storing them.
The main types of home care packaging are bottles and containers, metal cans, cartons, corrugated boxes, pouches and bags, and others.A bottle is a rigid or semirigid container with a small neck that is typically used to carry liquids and semiliquids.
To protect the contents from spillage, evaporation, or contact with foreign chemicals, it generally features a tight-fitting stopper or cap. The material used in home care packaging is plastic, paper, metal, and glass that can be used in dishwashing, insecticides, laundry care, toiletries, polishes, air care, and others.
Asia Pacific was the largest region in the home care packaging market in 2021. The regions covered in home care packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Increasing health awareness is contributing to the growth of the home care packaging market.People’s health awareness has improved due to the COVID-19 epidemic, which has led to greater usage of disinfectants globally in public buildings, transportation, hospitals, nursing homes, wastewater treatment facilities, and even common families to reduce the virus load.
As a result, there has been a surge in demand for home care packaging products such as detergents, surface cleaners, air fresheners, and other such items.For instance, according to P&G, a US-based consumer goods corporation, in 2020 home care products including detergents, surface cleaners, and air fresheners have been increased by nearly 30% in every region.
In addition, 59% of US consumers and 52% of UK consumers are using disinfectants and other cleaning products in 2020. Therefore, increasing health awareness is expected to propel the growth of the home care packaging market going forward.
Collaborations and partnerships have emerged as a key trend in the home care packaging market.Major companies operating in the home care packaging sector are focused on strategic collaborations and partnerships to expand their reach and meet consumer demand.
For instance, in December 2021, Sonoco, a US-based packaging company acquired Ball Metalpack, a US-based company that produces aerosol cans, closures, and other packaging components for $1.35 billion in cash. This acquisition will boost Sonoco’s consumer packaging division. Additionally, in August 2020, Sonoco, a US-based packaging company acquired Can Packaging, a France-based company that manufactures sustainable paper packaging for $49 million. Sonoco gains numerous new inventions as a result of this strategic acquisition, including patented technology for producing a recyclable, high-performance all-paper package that can be created in any shape, including round, square, rectangular, oval, oblong, or triangular.
In June 2019, Amcor, a Switzerland-based food packaging company acquired Neenah’s Bemis Co. for a deal of $6.8 billion. The acquisition of Bemis adds scale, skills, and footprint to Amcor’s industry-leading business model, while also providing considerable value to shareholders. Bemis Company Inc is a US-based company manufacturer of flexible packaging products.
The countries covered in the home care packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06285822/?utm_source=GNW
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