Skin packaging demand is predicted to increase through 2033
The skin packaging market is projected to reach a value of USD 15.1-billion by the end of 2033, exhibiting a CAGR of 4% over the next decade. Skin packaging involves the use of heat to pack products in a film or thin plastic sheet, offering comprehensive safety, full protection, and product visibility. A report by Fact.MR.
05 Mar 2024 | By Abhay Avadhani
Surging R&D activities and increasing demand for flexible packaging solutions result in sales of skin packaging solutions
The market growth is anticipated to be propelled by increased focus on packaging innovations and technological advancements by manufacturers. Emerging economies like India and China are witnessing a surge in demand for innovative packaging solutions, driven by the growing demand for beauty and personal care products.
Additionally, the rise in personal income levels enables consumers to invest in high-quality products. Factors such as globalisation, modernisation, and urbanisation are also expected to fuel growth in the global market. Moreover, the increasing demand for convenient packaging solutions and the rise in manufacturing activities are likely to bolster product sales.
Challenges such as fluctuations in raw material costs and stringent government regulations on plastic usage may hinder market growth. Environmental concerns and the availability of eco-friendly alternatives could further impede growth prospects in the industry.
Sales of skin packaging solutions are projected to reach USD 15.1-billion by 2033-end. Valuation of the global skin packaging industry is USD 10.2-billion for 2023. The skin packaging market is expected to progress at a CAGR of 4% through 2033. Demand for skin packaging services in the Germany market is set to expand at a CAGR of 2.1% through 2033.
“Innovations in packaging services by manufacturers are estimated to stimulate growth opportunities in the global skin packaging market,” says a Fact.MR analyst.
Surging R&D activities and increasing demand for flexible packaging solutions and materials are likely to proliferate sales of skin packaging solutions. Moreover, growing technological advancements across packaging technology and equipment and the rising availability of different space-saving packaging options are further driving sales of effective packaging strategies.
Some of the key companies in this space include; Amcor, Sealed Air Corporation, WestRock Company, Display Pack, Grief, Orora, Sigma Plastics Group, and International Paper.