Global airless packaging market was valued at $4,046.0 million in 2016, and is expected to reach at $5,938.0 million by 2023, growing at a CAGR of 5.9% during the forecast period. Europe accounted for more than one-third of the market share in 2016 and is expected to witness significant growth during the forecast period.
Airless packaging, also referred as vacuum packaging, is one of the most reliable ways of packaging food products. Airless packaging involves removing air from inside packaging to ensure safe storage of food, to increase shelf life & quality maintenance.
An airless packaging system is a non-pressurized device that uses a dispensing pump, provides high restitution rate & low wastage, and avoids backflow of air in the system. The demand for airless packaging products has increased, owing to the increased demand for natural and organic products globally, rise in sales of homecare products due to modernization, and growth in its applicability in the personal care & food & beverages. In addition, government regulations and legislations for reducing pollutants and increased awareness about eco-friendly products are expected to propel the market growth. However, high production cost airless packaging products pose a threat to the market growth.
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The increasing use of dispensing pumps that are produced using plastic & glass has created a demand for airless packaging for sensitive products, including pharmaceuticals and cosmetics, with minimum wastage. It avoids contact of packed products with oxygen, sunlight, and microbes, thus, increases its shelf life approximately by 15%. Airless packaging also avoids the wastage of the product as a consumer can use the packed product up to the last drop. The rising demand for premium range products in several markets across the world accelerated the growth of the market.
Advancements in packaging systems that protect the product form contamination and is environment friendly, and increasing demand from cosmetic industry in order to protect or increase shelf life of the products are major factors driving growth of the global airless packaging market. In addition, airless packaging offer various benefits such as less chemical interaction, precise dosing, safety of product, easy to use, etc., coupled with increasing demand from various sectors such as healthcare, personal care, etc. are other factors expected to boost growth of the global airless packaging market.
Technological advancements & increasing R&D activities to reduce the cost of machinery is expected to create new opportunities to players operating in the global airless packaging market over the forecast period.
Drivers of market:
- Low wastage, and increased shelf life and quality
- Recycling of products
- Increase in demand for high quality premium products
Key Findings of the Airless Packaging Market:
- The bottles & jars segment dominated the market, in terms of revenue, in packaging type segment, and is projected to grow at a CAGR of 5.0% during the forecast period.
- Personal care segment generated the highest revenue in 2016 and is estimated to grow at the highest growth rate of 5.3%.
- In 2016, Europe was the dominant region in terms of revenue, but LAMEA is anticipated to grow at the highest CAGR in the market.
- U.S. was the revenue generating country in North America airless packaging market, accounting for around 55.48% of the market share in the region in the year 2016.
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The key market players profiled are ABC Packaging Ltd., Alba, AptarGroup, Inc., Fusion Packaging, HCP Packaging, Libo Cosmetics Company, Ltd., Lumson SPA, Quadpack Industries, Raepak Ltd., and Silgan Dispensing Systems.
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