Airless Pumps Market to Grow 1.8 Times As Demand in Personal Care and Cosmetics Industry Accelerates: Future Market Outlook
DUBAI, United Arab Emirates, 25 October 2021 / PRNewswire / – According to IMF, the global airless pump market should reach US $ 234.6 million in 2021. In response to the growing demand for contamination-free and airtight packaging solutions in the personal care industry, the market is expected to overtake US $ 399.5 million by the end of 2031.
Due to their exceptional dispensing ability, airless pumps are gaining popularity in packaging applications of various cosmetic and personal care products, such as body lotions, foundations, perfumers, serums, shampoos, deodorants and the like.
Growing demand for the aforementioned products due to increasing spending on skin care and facial aesthetics is expected to drive sales of airless pumps 1.8 times between 2021 and 2031.
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Historically, the market has grown at a CAGR of 3.3% from 2016 to 2020. The growing emphasis on improving the usability of cosmetic products to provide a sophisticated and luxurious feel is propelling demand.
In addition, highly customizable but technology-driven airless packaging solutions such as airless pumps will also drive the market.
For this reason, the airless pump market is expected to grow at a CAGR of 5.5% during the forecast period 2021-2031.
According to IMF, Asia Pacific is expected to emerge as a very lucrative region in the global market, projecting sales at a CAGR of 6.8% through 2031. The factors driving growth in the region are the emergence of new players and the investment from global cosmetics giants such as Unilever, L’OrÃ©al, and others.
In addition, the easy availability of metal and plastic raw materials and the low cost of labor will stimulate demand in China, India, and Japan.
“The increasing availability of local and international branded cosmetics and beauty care products due to the increasing penetration of e-commerce is expected to accelerate the growth of the market” said the IMF analyst.
Key takeaways from Airless pump Market research
- The United States is expected to dominate the market in North America, accounting for around 80% of the revenue share until 2031.
- Germany should become a highly profitable region in the Europe market, holding an additional opportunity to US $ 5 million from 2021 to 2031.
- Sales of airless pumps through South Korea are expected to increase by 2 times the present value during the evaluation period.
- Based on application, the body lotions segment is expected to hold the highest revenue share, accounting for almost 28% of total sales in 2021.
- In terms of pump type, the portable airless pump segment is expected to experience the fastest growth, with a CAGR of 5% during the forecast period.
- Growing demand for skin care and cosmetic products with attractive, durable and easy-to-use packaging solutions that minimize product waste is driving sales of airless pumps.
- Rapid expansion of personal care and cosmetics industry across countries such as South Korea, Japan, Germany, United States, China, and others promote market growth.
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- The high cost of airless pumps compared to traditional caps and closures is hampering market growth.
- Increasingly stringent government regulations regarding plastic production are expected to limit the uptake of plastics, hampering market growth.
According to IMF, the top five companies operating in the global airless pump market are Aptar Group, Inc, Silgan Holdings, Inc, Albea SA, Rieke Corporation and Quadpack. These players are expected to represent around 30 to 35% of the market share in 2021.
Leading companies are focusing on adoption growth strategies such as product launches, expansions, acquisitions, and strategic partnerships with other manufacturers to expand their manufacturing capabilities and product portfolio. For example,
- In July 2020, AptarGroup Inc., a designer and manufacturer of active packaging solutions, announced the expansion of its portfolio of PCR dispensing products by North America by introducing two new airless packaging solutions.
- In February 2020, Silgan Holdings Inc., a leading US supplier of sustainable rigid packaging solutions, has announced the completion of the acquisition of a US corrugated packaging company, Westrock. The acquisition will help the company expand its production capacity.
Some of the major players operating in the market presented by IMF are:
- AlbÃ©a SA
- AptarGroup, Inc.
- Silgan Holdings Inc.
- Richmond CTP Containers LtÃ©e
- Frapak Packaging BV
- Rieke Company
- Raepak Ltd.
- Unicom International Ltd.
- Packing group
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More valuable information on Airless pump Marlet
The global airless pumps market study published by Future Market Insights incorporates incisive coverage of the competitive landscape through 2021 and beyond. The study also reveals more in-depth insight into crucial trends and drivers of market growth. In order to understand the potential, scope of growth, and opportunities, the market is segmented on the basis of:
By type of pump:
- Multi-chamber airless pumps
- Portable airless pumps
- Polyethylene (PE)
- Polyethylene terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Body Lotions
- Hand care lotions
- Perfumes & Deodorants
- Liquid soap
- Shampoos and conditioners
- Other applications
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Key questions addressed in the report
- The report provides an overview of the demand outlook of the airless pump market for the forecast period 2021-2031
- The market study also highlights the expected sales growth for the airless pump market between 2021 and 2031.
- The Airless Pumps market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancements within Of the industry
- Analysis of the airless pumps market share, covering key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships etc.
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