The airless pump market survey published by Future Market Insight (FMI) offers qualitative and quantitative assessment of key dynamics and macro-economic indicators affecting growth between 2021 and 2031. To offer a refined demand outlook, the market has been segmented in terms of pump type, material, application, and region. The study also discloses key expansion strategies adopted by the market players to gain competitive advantage
DUBAI, UAE, Oct. 25, 2021 /PRNewswire/ -- As per FMI, the global airless pump market is projected to reach US$ 234.6 Mn in 2021. In response to the growing demand for contamination-free and air-tight packaging solutions across the personal care sector, the market is expected to surpass US$ 399.5 Mn by the end of 2031.
Owing to their exceptional dispensing ability airless pumps are gaining immense popularity across packaging applications for various cosmetics and personal care products, such as body lotion, foundation, perfumers, serums shampoos, deodorants, and others.
Rising demand for the aforementioned products due to growing expenditure on skincare and facial aesthetics is expected to spur the sales of airless pumps at 1.8X between 2021 and 2031.
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Historically, the market grew at a CAGR of 3.3% from 2016 to 2020. Increasing emphasis on improving the usability of cosmetic products to offer sophisticated and luxurious feel is propelling the demand.
Further, highly customizable yet technology-oriented airless packaging solutions such as airless pumps will also boost the market.
On account of this, the market for airless pumps is expected to expand at a CAGR of 5.5% during the forecast period 2021-2031.
As per FMI, Asia Pacific is estimated to emerge as a highly lucrative region in the global market, projecting sales at a CAGR of 6.8% through 2031. Factors driving the growth across region is emergence of new players and investment of global cosmetics giants such as Unilever, L'Oréal, and others.
Also, easy availability of raw metal and plastic materials, and low labor cost will drive the demand across China, India, and Japan.
"Increasing availability of local as well as international cosmetics & beauty care brand products due to rising e-commerce penetration is expected to accelerate the growth of the market," says the FMI analyst.
Key Takeaways from the Airless Pump Market Study
- The U.S. is forecast to dominate the market in North America, accounting for around 80% of the revenue share through 2031.
- Germany is projected to emerge as a highly remunerative region in the Europe market, holding an incremental opportunity of US$ 5 Mn from 2021 to 2031.
- Sales of airless pumps across South Korea are forecast to rise 2x that of current value during the assessment period.
- On the basis of application, the body lotion segment is estimated to hold the highest revenue share, accounting for nearly 28% of the total sales in 2021.
- In terms of pump type, the handheld airless pump segment is expected to witness the fastest growth, expanding at a CAGR of 5% over the forecast period.
- Surging demand for skincare and cosmetics products with attractive, sustainable, and easy-to-use packaging solutions that minimize product wastage is spurring the sales of airless pumps.
- Rapid expansion of the personal care & cosmetics industry across the countries such as South Korea, Japan, Germany, the U.S., China, and others are favoring the market growth.
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- High cost of airless pumps compared to traditional caps and closures is hampering the growth of the market.
- Increasing stringent government regulations regarding the production of plastic is expected to limit the adoption of plastic material, impeding growth in the market.
As per FMI, the top five companies operating in the global airless pump market are Aptar Group, Inc, Silgan Holdings, Inc, Albea S.A, Rieke Corporation and Quadpack. These players are anticipated to account for around 30% to 35% market share in 2021.
Leading companies are focusing on adoption growth strategies such as product launches, expansions, acquisition and strategic partnerships with other manufacturers to expand their manufacturing capabilities and product portfolio. For instance,
- In July 2020, AptarGroup Inc., a designer and manufacturer of active packaging solutions, announced expanding its PCR dispensing product portfolio in North America by introducing two new airless packaging solutions.
- In February 2020, Silgan Holdings Inc. a U.S.-based leading supplier of sustainable rigid packaging solutions, announced completion acquisition of an American corrugated packaging company, Westrock. The acquisition will assist the company to expand its production capacity.
Some of the key players operating in the market profiled by FMI are:
- Albéa S.A.
- AptarGroup, Inc.
- Silgan Holdings Inc.
- Richmond Containers CTP Ltd
- Frapak Packaging B.V.
- Rieke Corporation
- Raepak Ltd.
- Unicom International Ltd.
- APackaging Group
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More Valuable Insights on Airless Pump Market
The global airless pump market study published by Future Market Insights incorporates incisive coverage on the competitive landscape through 2021 and beyond. The study also divulges deeper insights on the crucial trends and drivers shaping the growth in the market. In order to understand the potential, scope of the growth, and opportunities, the market is segmented on the basis of:
By Pump Type:
- Multi Chamber Airless Pumps
- Handheld Airless Pumps
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Body Lotions
- Hand Care Lotions
- Make Up
- Perfumes & Deodorants
- Liquid Soap
- Shampoos & Conditioners
- Other Applications
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Key Questions Covered in the Report
- The report offers insight into airless pump market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for airless pump market between 2021 and 2031
- Airless pump market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Airless pump market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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