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Perfumery Glass Bottle Market to Reach USD 1,604.6 Million by 2027

Post Time:Sep 25,2020Classify:Industry NewsView:987

The global perfumery glass bottle market is set to gain momentum from the increasing marketing strategies and advertisements implemented by prominent companies. Besides, the rising trend of online shopping would boost growth. Fortune Business Insights™ presented this information in a new report, titled, “Perfumery Glass Bottle Market Size, Share & COVID-19 Impact Analysis, By Form (Translucent, Transparent, and Opaque), Capacity (0-50 ml, 50-150 ml, and >150 ml), and Regional Forecast, 2020 – 2027.” The report further states that the market size was USD 1,556.2 million in 2019 and is projected to reach USD 1,604.6 million by 2027, exhibiting a CAGR of 4.2% during the forecast period (2020-2027).


COVID-19 to Affect Growth Backed by Shortage of Labor & Reduced Production

The Q2 2020 Financial Report by Gerresheimer declares that the company was impacted severely in the second quarter of 2020 by approximately 8 million Euros in its business of cosmetics, including perfumery glass bottles. This proves that people are spending more on the essential items amid the COVID-19 pandemic rather than on luxury items. Also, manufacturers have reduced production capacity owing to shelter-in-place restrictions, as well as labor shortage. We are providing detailed reports to help you gain business confidence and generate more sales by selecting the right strategy.


Drivers & Restraints

Increasing Demand for Branded Packaging to Accelerate Growth

Manufacturers nowadays are focusing on customization and innovation of perfumery glass bottles as premium packaging is a very crucial factor for attracting the attention of consumers. They are trying to keep up with the requirements of consumers and making bottles accordingly to generate more sales. Gerresheimer AG, for instance, delivers a wide range of unique perfume glass bottles that are available in various shapes and sizes. The rising demand for luxurious and branded packaging solutions from consumers worldwide is set to boost the perfumery glass bottle market growth in the near future. However, the usage of lightweight plastic bottles may hinder growth.


Segment

Transparent Segment to Hold Major Share Fueled by Clear Visibility

Based on form, the translucent segment generated 39.93% in terms of perfumery glass bottle market share in 2019. The transparent segment is expected to hold the major share on account of the ability of these bottles to provide clear visibility of the content.


Regional Analysis

Rising Disposable Incomes of People to Favor Growth in Asia Pacific

In 2019, North America earned USD 533.1 million in terms of revenue. This growth is attributable to the rising working and young population in the developed countries, such as Mexico, Canada, and the U.S. Asia Pacific, on the other hand, is set to be the fastest-growing region because of the increasing need to maintain the standards of living. Coupled with this, the rising focus on beauty & wellness and surging disposable incomes of people would bolster growth.


Competitive Landscape

Key Players Aim to Develop Unique Products to Intensify Competition

The market for perfumery glass bottles consists of various manufacturers. They are mainly aiming to conduct research and development activities for creating novel products. Some of the local companies are entering the marketplace through mergers & acquisitions, product launches, and signing agreements.


Below are the two latest industry developments:

January 2020: Verescence, a prominent manufacturer of glass headquartered in France developed the first ‘safety glass’ for What Matters, a digital start-up. The new products will be launched in spring 2020. The safety glass bottles provide an eco-responsible alternative to plastic.

September 2019: Gerresheimer, a producer of glass packaging announced that it will begin producing products with a higher proportion of recycled glass from 2020. It will be done at the Tettau site, Germany.

Source: https://www.globenewswire.com/Author: shangyi

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