Global Market Outlook on Dispensing Pumps
Growth in global dispensing closures market is expected to be driven be increasing preference for more functional and expensive pumps in the developed markets and increasing penetration of personal care and homecare products in emerging markets.
- Global personal and home care dispensing closures market is expected to witness 4-4.5% CAGR in the next five years. The demand growth is expected to be driven by an increasing consumption of personal care products in the emerging markets especially APAC and Latin America, where the demand for personal care products are expected to grow at a CAGR of about 7-9% in next five years
- Increasing need for personalized experience and precise dosing is expected to drive the development of high-end dispensing systems, especially in the West. E-commerce is expected to play a vital role in driving a major chunk of personal care products sales. This, in turn, is expected to drive the need for leak-proof, tamper evidence closures in near term
- Supply base of global dispensing systems is moving towards consolidation, with a major acquisition of West Rock by Silgan Group and Impending acquisition news of Albea by RPC Group
Market Outlook of Dispensing Systems - Europe
Europe personal care dispensing systems market is expected to grow at about 1.5-2% CAGR over the next five years, driven by increasing demand for personal care products in Eastern Europe and demand for more complex and expensive dispensing systems
- Demand for trigger sprayers are expected to be driven by considerable growth estimates from key end-use segments such as agriculture, industrial chemicals, homecare & personal care predominantly from East European countries
- Beauty & Personal care market in Europe is expected to grow at a sluggish pace of ~1% in near term. However, trends like product premiumization, personalized application, demand for natural/organic ingredients, etc., are expected to drive the demand for highly efficient complex dispensing systems in near future
- Significant growth is expected from smaller personal care segments like men’s grooming, anti-aging, color cosmetics, etc.
Market Outlook of Dispensing Systems – Middle East & Africa
- MEA region is expected to witness 3-4% Y-o-Y growth in Beauty and Personal care segment driven by significant growth estimates from markets like Egypt (~5%), Morocco (~7%), Tunisia (~7%), and Iraq (~5%) over the next 5 years. Among the end-use segments, men’s grooming and anti-aging creams are expected to register the fastest growth over the period
- Demand for halal beauty products is expected to grow substantially in MEA countries, owing to religious norms, prohibiting the use of products made using excessive alcohol, pork, etc. Halal cosmetics sale in Saudi Arabia alone is forecasted to grow at 12-15% in next five years
- Multi Product Blends that offer multiple benefits under one beautifying product (E.g. BB creams) have become one of the fastest growing trend in the region, with demand forecasted to grow by 15-18% CAGR over 2017-21
- MEA remains the fastest growing markets for luxury cosmetic products, owing to high demand from the GCC countries. Increasing demand from luxury malls in Saudi Arabia and UAE, that caters predominantly to tourists, accounts for a large portion of the demand growth. UAE has become a manufacturing hub for cosmetic firms, especially in premium and luxury segments such as organic and natural products, owing to high demand in the region