Market Trends of Europe Home Care Packaging Industry
This section covers the major market trends shaping the Europe Home Care Packaging Market according to our research experts:
Plastic Material is Expected to Hold a Significant Market Share
- The wide usage of plastic through all major packaging types is creating a market for plastic as a material. The flexibility, strength, and durability of the material make it ideal for the packaging of many liquids, cream, and powder products in the industry.
- Compared to other materials available in the market, plastic remains highly flexible and can be molded into any shape. Growth in demand from the retail industry, increasing dual-income households, and rising demand for plastic bottles are the major drivers for plastic products.
- Apart from its favorable properties, innovations, such as tamper-evidence caps and closures, are gaining popularity, which can lead 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 towards the adoption of 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, in addition to being cheaper.
- However, environmental concerns associated with plastics have resulted in a slowdown of market growth in the last decade.
- Nevertheless, with the advent of biodegradable plastics and the process of recycling, plastics are expected to sustain their usage in the packaging world.
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United Kingdom to Anticipated to Hold Significant Market Share
- In the European region, the United Kingdom is expected to occupy the highest share in the home care packaging market, followed by Germany. The increasing awareness of consumers regarding the safety and benefits of packaged home care products is expected to drive the growth of the market. Also, as per the RetailXCoronavirus Consumer Tracker, there have been significant changes in customer behavior due to the growing COVID-19 concerns.
- The European home care packaging market is highly regulated, which makes home care safest to use. Stringent and changing regulations have also caused distortions in the market. The innovative packaging and incorporation of special ingredients that have given an additional benefit to the product are also driving factors of the market.
- The market in the United Kingdom is mainly growing due to the flexible packaging sector. The global packaging vendors are expanding in the region, and local companies are being acquired, which is indicative of the market potential in the United Kingdom. For instance, in January 2020, Macfarlane Group acquired protective packaging solutions provider Armagrip.
- The United Kingdom is one of the major economies in the European Region. Growing disposable income in European countries has led to rising in the affordability of home care products, which has resulted in improved quality home care items in the pandemic situation. The growth of the home care market is also being driven by the increasing number of migrants settling for employment purposes.
- During the pandemic situation, consumers have been worried about their health and hygiene. They are taking care of safety and cleanliness. Regular usage of sanitizers and disinfectants has grown exponentially, positively impacting the home care packaging market.
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