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The rising demand for Perfume & Fragrances Packaging Market is estimated to increase at the fastest rate throughout the projection period.

HYDERABAD, TELANGANA, INDIA, February 2, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Perfume & Fragrances Packaging Market size is forecast to reach US$12.5 billion by 2027, after growing at a CAGR of 7.3% during 2022-2027. Fashion trends, which are unpredictable and constantly changing, have a major impact on the growth of the fragrances and perfumes business. As a result, Globally, the increasing usage of plastic materials such as polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, polystyrene, and others, for perfume and fragrances packaging is estimated to fuel the market over the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Perfume & Fragrances Packaging Market highlights the following areas -

1. The Asia-Pacific region dominates the Perfume & Fragrances Packaging Market due to the rising growth of the fragrance industry. For instance, in terms of revenue, deodorants dominated the fragrance products market in 2019 with a share of almost 60%, followed by perfumes at 32.14% as per Invest India.

2. Increased per capita income, combined with consumer spending on luxury grooming items, provides a boost to the total cosmetics business, propelling the Perfume & Fragrances Packaging Market even further.

3. Currently, rising launch of the glass based perfume and fragrances bottle has uplifted the growth of the Perfume & Fragrances Packaging Market. For instance, in 2021, Coty's Calvin Klein Fragrances launched Calvin Klein Defy in the men's market. The masculine and woody fresh perfume, which contains notes of bergamot, fresh lavender absolute, and vetiver oil responsibly produced from Haiti, is encased in a sleek, minimalist glass bottle with curving rounded edges and strong linear lines.

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Segmental Analysis:

1. Glass dominated the Perfume & Fragrances Packaging Market in 2021 and is expected to continue their dominance over the period 2022-2027. With more and more brands appearing in the perfume industry, perfume packaging has also become an important factor in increasing business growth. Glass has been the material of choice for the majority of perfume bottle producers.

2. Asia-Pacific region dominated the Perfume & Fragrances Packaging Market with a share of 46.9% in 2021. The market in the region is witnessing expansion with the growth of perfume and fragrance industry in emerging economies such as China, India, and Japan. For instance, in February 2022, a distinct 'Made in India' perfume inspired by Indian spices and traditional scents, made in the country's perfume capital Kannauj, was released in New York in a first-of-its-kind effort to bring India's historic fragrance industry to the global arena.

3. The primary packaging sector dominated the Perfume & Fragrances Packaging Market in 2021 and is projected to grow at a CAGR of 7.8% during 2022-2027. Owing to the continuous preference for fragrances, the primary packaging category is projected to maintain its market preference among various packaging types.

Competitive Landscape:

The top 5 players in the Perfume & Fragrances Packaging Industry are -

1. Guangzhou Jiaming Perfume Packaging Co. ltd.
2. Hangzhou Tianhao Plastic Industry Co. Ltd
3. Olila Enterprise company limited
4. Mei Yu Packaging (HK) Industrial Co., Ltd.
5. Gerresheimer AG

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Related Reports:

A. Cosmetic Packaging Market
https://www.industryarc.com/Report/15263/cosmetic-packaging-market.html

B. Personal Care Packaging Market
https://www.industryarc.com/Research/Personal-Care-Packaging-Market-Research-501488

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