Market Trends of Home Care Packaging Industry
This section covers the major market trends shaping the Home Care Packaging Market according to our research experts:
Flexibility, Strength, and Durability of Plastic Make it Ideal for Packaging
- The wide usage of plastic through all major packaging types creates a market for plastic as a material. The flexibility, strength, and durability of the material make it ideal for packaging many liquids, cream, and powder products in the industry. Compared to other materials available in the market, plastic remains highly flexible and can be mold into any shape. Growth in demand from the retail industry, increasing dual-income households, and rising demand for PET bottles are the major drivers for plastic products.
- Apart from its favorable properties, innovations, such as tamper-evidence caps and closures, are gaining popularity, leading to a crucial value add for the brand owners. This has driven the use of plastics across a variety of products.
- Furthermore, there is a gradual shift in customer preference toward adopting flexible plastic packaging over its rigid counterpart because of convenience and sustainability issues. Flexible plastic packaging materials are 80% lighter in weight than their equivalent rigid plastic materials and cheaper.
- Manufacturers are developing packaging that contains less virgin material and higher levels of post-consumer recycling (PCR) or post-industrial recycling (PIR). Although major emphasis has been placed on consumer recycling practices, many vendors have found success by collecting and regrinding waste material throughout the manufacturing process. Moreover, companies are now exploring bioplastics and bio-derived plastics resins to improve their carbon footprint.
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Asia-Pacific is Leading the Demand in Homecare Packaging Market
- The Asia-Pacific home care product industry is forecast to lead the industry due to the increasing population, new demand for home care products, and changing lifestyles. Growth in this region is expected mainly in the developing markets, such as India and China, due to high retail sales growth. Higher sales growth percentage of consumer goods and rising consumer expenditures are the key factors boosting the home care products industry.
- Toilet cleaners largely cater to the urban and semi-urban markets in the country. Government initiatives, such as ‘SwachBharath’, are major enablers for the toilet cleaners market.
- Moreover, the home care packages program in Australia provides older people with access to a range of ongoing personal services, support services, and clinical care that help them with their day-to-day activities. Rising health consciousness is a key factor for the growth of the floor cleaner product category in the country.
- This program is a part of the Australian Government’s continuum of care for older people in Australia, providing services between the Commonwealth Home Support Program and residential aged care.
- The impact of the coronavirus crisis on the home care packaging industry was mixed with the pattern initially playing out in countries such as China and South Korea, which were the first to confront the pandemic. Demand also rose sharply for packaging for groceries, healthcare products, and e-commerce transportation while the market for industrial, luxury, and some B2B-transport packaging shrunk.
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