The personal care packaging market has held its own in recent years, and looks to grow to U.S. $37.25 billion by 2022 according to a report by Grand View Research Inc. (grandviewresearch.com). What does that mean to those in the market? Rising consumption of cosmetic and beauty products, along with advancements in packaging technology, is expected to drive the global market over the next six years. Changing lifestyle along with rapid urbanization is expected to stimulate industry growth as well.
The fragrance sector is expected to grow at a CAGR of 6.3% from 2015 to 2022 due to growing demand in perfumes, deodorants, soaps, body washes and moisturizers, also noted in the Grand View Research report. North America accounted for 23.4% of the global market share and is expected to grow in light of robust manufacturing of cosmetic manufactures such as Unilever, Johnson & Johnson and Procter & Gamble in the U.S.