Market players are focusing on product innovation to attain a competitive edge.
DUBAI, UAE / ACCESSWIRE / February 8, 2021 / Future Market Insights: FMI states in its recent study on pumps and trigger spray that the market will record a CAGR of 6.5% through 2030. Demand for pumps and trigger spray is anticipated to continue surging especially due to their extensive use across personal care, home care, and pharmaceutical industries respectively.
"As technological advancements continue penetrating the global packaging landscape, manufacturers are increasingly developing novel solutions and innovations to design state-of-the-art and highly sophisticated pumps and trigger sprays." says the FMI analyst.
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Pumps and trigger spray Market - Important Highlights
- According to product type, trigger sprays are anticipated to hold the biggest share, generating more than 50% of the revenue by 2020-end.
- By material type, HDPE plastic is expected to remain the most used packaging material, due to its recyclability and sustainability
- The cosmetics and personal care sector is expected to continue remaining as a prominent end-user of pumps and trigger spray during the forecast period.
- The market across North America is expected to grow at a CAGR of 5.7% through 2030.
- South Asia is anticipated to emerge as the fastest-growing market, mainly due to its widespread application across several industries.
Pumps and trigger spray Market - Drivers
- The rapid rise in sales of consumer products such as cosmetics and fragrances is expected to be the key market driver during the forecasted years.
- Growing demand across the automotive industry to ensure the safety of operations during aerosol spraying.
- Rising environmental concerns will compel the key market players to focus on eco-friendly products with the global commitment to achieve sustainability which will drive the market growth further.
Pumps and trigger spray Market - Restraints
- High manufacturing and installation costs are expected to remain a key constraint for the market.
- Limited applications of pumps and trigger sprays due to their design are creating deterrents.
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COVID-19 Impact on Pumps and trigger spray Market
The COVID-19 pandemic has increased the growth prospects of the pumps and trigger sprays market by several times. The industry is set to expand the most across the pharmaceutical and homecare sectors. Since the pandemics have set, demand for personal hygiene products such as hand sanitizers and home cleaning fluids has been rising at a rapid rate. A peak in sales has been observed across all regions of the world during this period, and sales have continued to rise, thus generating massive demand for pumps and trigger sprays. Initial production difficulties due to lockdowns resulted in a minor dent in the industry, which made a quick turnaround.
Competitive Landscape
The pumps and trigger spray market players are leaning towards the incorporation of several latest technologies besides opting for strategic collaborations to attain a competitive edge.
For example, Guala Dispensing GmbH focuses on product development partnerships by including optimization of transformation technology, develop polymeric materials of great performance with enhanced environmental sustainability. Some of the key market players which FMI has profiled in the study include Guala Dispensing S.p.A., Silgan Dispensing Systems Corporation, Afa Dispensing, Bramlage Division GmbH & Co.KG, JMS Packaging, The Packaging Company, Kläger Plastik GmbH
About the Study
The study offers readers a comprehensive assessment of the pumps and trigger spray market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (Trigger sprays, pumps), application(cosmetics, body care, fertilizers, and others), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
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, the global financial capital, and has delivery centers in the 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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Report: https://www.futuremarketinsights.com/reports/pumps-and-trigger-spray-market
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SOURCE: Future Market Insights
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