The global single wall jars market is anticipated to accumulate a market value of US$ 23.35 billion in 2023 and is expected to garner a valuation of US$ 36.4 billion by exhibiting a CAGR of 4.54 % in the forecast period 2023 to 2033. The market for single wall jars market reflected growth with 3.9% CAGR in the historical period 2018 to 2022.
Changing styles of packaging, innovative and unique package designs, and rising demand for cosmetics due to the growing youth population are expected to drive the market of single wall jars during the forecast period.
On the other hand, emerging economies like China and Japan are creating a huge opportunity for the growth of the cosmetic packaging solutions due to inflating disposable income and changing lifestyles. Thus, growing demand for cosmetics directly impact the market for single wall containers, thereby driving the global industry growth in the forecast period.
The rising number of new entrants in the cosmetic industry have further led to a surge in innovation in products and packaging in order to gain a competitive advantage. These are some of the prominent factors that are expected to fuel the demand for single walled jars in the forecast period.
The cosmetics sector is rapidly expanding in both developed and developing countries. Increasing consumers' disposable incomes owing to their propensity toward premium cosmetics and beauty products is further expected to increase the sales of the product.
While cosmetics companies are enhancing their product design, they are also effectively branding their products through inventive packaging like single walled jars to attract more customers. As a result, the market is anticipated to grow substantially in the coming years.
Besides this, manufacturers have started focusing on the economic middle-class consumer group. This has led the companies to launch small packaging of the product in the form of single walled bottles thereby creating demand for the packaging industry. The advent of eco-friendly and sustainable packaging solution has made a tremendous impact on the overall growth of the industry due to the adoption of new methods of packaging.
Innovation in the product lines of the companies also playing a crucial role in the expansion of single wall containers market. For example, the introduction of anti-aging creams has led to a rise in the number of packaging materials in the recent past.
In Asia Pacific, Japan is expected to contribute to majority of shares and is projected to register a CAGR of 5.2% during the forecast period. Introduction of several varieties of the product and increasing adoption by the consumers due to growing awareness about different benefits such as anti-tanning solution is expected to fuel growth in this region.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 23.35 billion |
| Projected Market Value in 2033 | US$ 36.4 billion |
| Growth Rate (2023 to 2033) | 4.54% CAGR |
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Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing single wall jars are expected to create lucrative opportunities for market growth during the forecast period.
Single wall jars are used in the packaging of a variety of products like cosmetics, food items and pharmaceutical products and others. The single wall jars are available in the market in a variety of shapes and colors, but the common attributes amongst them are straight walls, wide mouths and neck finishing with a continuous thread.
Single wall jars are widely used in the cosmetics and personal care industry as they are significantly efficient packaging formats for most products and are convenient for usage by consumers. As a result, they are usually preferred by manufacturers as well as consumers globally.
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The rise in the consciousness of the millennial population towards appearance is anticipated to bolster the personal care and cosmetics industries exponentially in the coming years. The single wall jars are widely used in the packaging of personal care products that are in form of cream, gel or other high viscosity liquids like moisturizer, sunscreen among others.
There has been a significant rise in the consumption of these products and is anticipated to grow even further. The wide application of single-wall jars in the packaging of these products is estimated to shape the market demand.
The growth of the cosmetics industry has seen an upward trend in the past couple of years. The industry has also witnessed an increase in the number of players offering organic and herbal cosmetic products. The single wall jars are a favorable packaging solution for most of the products offered in the industry as a result the growth of the cosmetics industry is anticipated to augment the demand for the target market.
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There has been a radical growth in the awareness of the population towards the adverse impact of the increasing plastic waste on the environment. This has resulted in shifting the preference of the consumers away from plastic packaging. This is a concern for the plastic jars manufacturers in the industry and has led the manufacturers to use alternate materials like metal or glass for the packaging. The growing aversion among the population towards plastic jars might prove to be a restraint in the growth of the single-wall jars in the market.
Key global players such as
Key Asian players in the single wall jars market are
The key players in the industry are focusing on enhancing their product portfolio by offering a wide range of shapes, sizes and materials to gain maximum market share. The use of post-consumer recycled plastic materials is also gaining popularity among the manufacturers to attract the majority of consumers. The key players in the industry are also focusing on the expansion of their current manufacturing capabilities and geographical reach.
The increasing demand for the post-industrial and post-consumer recycled material single wall jars has the potential to be a major opportunity for the manufacturers. In the packaging for food, cosmetics and pharmaceutical industry, there is a heightened demand among the manufacturers of these items for the recycled plastic single wall jars to attract more consumers toward their brands.
Further, the manufacturers of natural and herbal cosmetic products often prefer packaging in recycled plastic jars, as it complements their advertising and marketing strategies. This increasing demand for post-consumer recycled plastic single wall jars can prove to be a major opportunity for manufacturers in the industry.
The growing urbanization and per capita expenditure in the country has resulted in rising demand for personal care and cosmetics in the Indian market.
There has been a substantial increase in the emergence of new players offering these products as well. India is anticipated to generate significant demand for the single wall jars market, owing to the growth of personal care and cosmetics industry in the country.
The COVID-19 pandemic has severely impacted the end-use industries of the single wall jars market like personal care and cosmetics. There has been a significant drop in the demand for single wall jars from these industries.
Furthermore, the delays in the shipments of raw materials and production facilities are working with half of the regular labour because the restrictions and regulations imposed have adversely impacted the target market. As a result of all these factors, the single wall jars market has suffered a major blow in terms of sales and consumption due to the pandemic.
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Single Wall Jars Market
