In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSEssity AB (publ) conducted a health survey by recognizing the upcoming largest threats to well-being. Since, poor hygiene standards were a major concern for global health threats, hence, to identify these threats, Essity Ab and other health companies conducted Global Hygiene and Health Survey 2022.
Amcor Limited to introduce sustainable packaging, High Shield Laminates, for pharmaceuticals. This method of packaging is low in carbon, easy to recycle and capable of supporting companies’ agendas of recyclability.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~USD 200 Billion |
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Forecast Year Market Size (2033) |
~USD 300 Billion |
The global hygiene packaging market is estimated to garner a revenue of USD 300 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 200 billion in the year 2022. The growth of the market can be attributed to the growing health expenditure across the globe. Based on the data provided by the World Bank, it was stated that in 2019, global health expenditure dropped to USD 1,121.9 per capita worldwide.
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Global hygiene packaging market trends such as, the growing prevalence of infectious diseases and rising inclination toward personal hygiene are projected to influence the growth of the market positively over the forecast period. It was estimated in 2019, around 3.5 million people visited the emergency department with parasitic and infectious diseases. Moreover, escalating demand and sales of sanitizer, napkins, diapers and other personal hygiene product are further expected to hike the growth of the market over the forecast period. As of 2020, around 270 million Americans were observed to be using soap and the number is estimated to reach nearly 280 by 2024. Hence, all these factors are expected to hike the growth of the market over the forecast period.
The global hygiene packaging market is segmented and analyzed for demand and supply by type into film, paper, and others, out of which, the paper segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising inclination toward personal hygiene boosting the demand for hygiene papers across the globe. For instance, the total consumption of tissue paper worldwide was estimated to be around 40 million tons in 2021 and is projected to reach approximately 50 million tons by 2032.
Regionally, the global hygiene packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be ascribed to the rising inclination of the population toward personal hygiene and constantly increasing health expenditure. For instance, the health expenditure in the United States was estimated to hit approximately 11,000 U. S. dollars per capita in 2019. Therefore, such factors are expected to hike the growth of the market over the forecast period.
The global hygiene packaging market is further classified on the basis of region as follows:
Our in-depth analysis of the global hygiene packaging market includes the following segments:
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By Type |
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By Price (USD) |
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By Distribution Channel |
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FREQUENTLY ASKED QUESTIONS
Growing health expenditure across the globe is estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2033.
The presence of alternative products in the market is estimated to challenge the market growth.
The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are Kruger Products L.P., Essity AB (publ), The Procter & Gamble Company, Soffass S.p.A, Wepa Hygieneprodukte GmbH, Georgia-Pacific LLC, Kris Flexipacks Pvt Ltd, Kimberley-Clark Corporation, Amerplast Ltd, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, price (USD), distribution channel, and by region
The paper segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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