Home Care Packaging Market Size

Home Care Packaging Market Analysis

The Home Care Packaging Market size is estimated at USD 35.37 billion in 2024, and is expected to reach USD 46.05 billion by 2029, growing at a CAGR of 5.42% during the forecast period (2024-2029).

• Packaging trends, such as low cost, ease of use, and easy storage, have remained the major consumer trends in the review period. Small pack sizes, offering affordability to the entire consumer base at large, have emerged as more favorable alternatives among the brand owners to gain a competitive edge in the market. In the face of the continuing pandemic, consumers are prioritizing essentials. Several home care products and cleaners are no longer considered commodities, and the industry was among the best performing in 2020. And, prior to 2020, the home care category was on a downward trend in most markets. Now however, health concerns and months spent at home have had an impact on shopping behavior, and several home care products are now seen as essential in the face of COVID-19.
• Increasing health awareness, improving living standards, and rise in per capita income of people, especially in the developing countries, such as India and Thailand, are some of the factors driving the growth of the home care industry.
• Moreover, a continued focus on health and wellbeing has been observed across the FMCG industry from packaged food and personal hygiene to home cleaning entails a wider lifestyle shift and evolving attitudes towards home care.
• Home care brands are focusing to win over consumers by demonstrating their strengths, such as using naturally derived formulas that do not compromise on efficacy, while keeping on-pack sustainability messages clear and easy to understand.
• Fluctuation in raw material prices nhas challenged the packaging manufacturers in terms of costs and supply. When considering the glass-based applications, in December 2020, Saertex implemented a price increase of 5% for its glass fiber material. The price of glass has been steady with volatility at regular intervals due to stock keeping habit by the packagers globally. And Smurfit Kappa in February 2021 issued a warning over the rising cost of raw materials (waste-paper and paper). As per the company, input prices have also shot up as people have recycled less during the pandemic led threats.
• With the world facing an infectious pandemic, continuous sanitization has become the new normal. From hands to houses, sanitization and hygiene maintenance with utmost care is growing. Despite being a necessary measure, it has been adding to the plastic waste problem. Demand for categories such as cleaning agents, sanitizers, disposable gloves, and masks is growing. And likewise, a heightened volume of these products is also being disposed of daily.