iCrowdNewswire Jan 8, 2021 5:38 PM ET
The global Cosmetic Packaging Market is growing continually. The market growth attributes to the increasing focus on high-quality cosmetic products and the changing lifestyle of consumers. A packaging solution plays an important role in product profiling and increases demand, making it attractive and positively impacting market value. Besides, the increased focus of body care brands on offering innovative beauty and personal care products creates substantial demand for effective cosmetic packaging solutions.
They focus on lucrative locations for production and short-distance supply to reduce costs. Moreover, increasing consumer preference for high-quality cosmetics and personal care products escalates the market demand. According to Market Research Future (MRFR), the global cosmetic packaging market is estimated to create a valuation of USD 35.6 BN by 2023, registering a 5.2% CAGR during the anticipated period (2017 – 2023). Recent trends show that Consumers mostly prefer lightweight yet durable and easy to carry packaging solutions.
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Players leading the global cosmetic packaging market include Rexam Plc. (U.K), Amcor Ltd (Australia), Silgan Holding Inc. (U.S.), Quadpack Group (Spain), World Wide Packaging Llc (U.S.), Albea Group (FranceCosmopak U.S.A. Llc. (U.S.), Aptargroup Inc. (U.S.), HCP Packaging. (U.S.), Gerresheimer (Germany), LIBO Cosmetics Company Ltd. (Taiwan), Bemis Company, Inc. (U.S.), and ABC Packaging (India), among others.
Also, there have been rapid investments over the past few years in cosmetics and personal care products, which increase the market size. Additionally, increasing research and development activities is the latest trend that packaging manufacturers are investing in hugely, which, in turn, fosters market growth. Advancements in packaging technologies and the rising demand for personal care products with innovative packaging designs boost the growth market.
Cosmetic Packaging Market – Segmentations
The report is segmented into four dynamics;
By Materials: Plastic, Paper, Glass, Metal, and others.
By Product: Bottles & Jars, Tubes, Containers, Pouches, Sticks, Roller Balls, Dispensers, and others.
By Application: Hair Care, Skin Care, Nail Care, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Cosmetic Packaging Market – Regional Analysis
The Asia Pacific region dominates the global cosmetic packaging market. The largest market share attributes to the rising demand from the burgeoning cosmetic industries across the region. Besides, rising consumer preference for eco-friendly products and increasing demand for small packaging sizes are the key factors driving the regional market growth. Moreover, rising consciousness about anti-aging products, the e-commerce sector, and the demand for high-end luxury products boost the regional market’s growth.
Increase in disposable income led by the rapid economic growth in the region has led to changing consumer lifestyles in emerging countries, such as China and India. Cosmetic packaging markets in India, China, and Indonesia witness a vast demand. Especially, India and China are projected to witness various growth opportunities during the years to come. The APAC cosmetic packaging market is projected to continue its dominance throughout the forecast period.
Developed economies in North America and Europe are too expected to demonstrate significant cosmetic packaging market growth. Especially, North America is projected to show rapid growth in the personal care industry due to the vast consumer base of beauty care products. Additionally, the pharmaceutical industry contributes to the cosmetic packaging market growth, pursuing the high demand for medicated personal care products. The North American cosmetic packaging market is estimated to expand at a substantial CAGR throughout the review period.
In Europe, high living standards due to the high disposable income of consumers drive the growth of the cosmetic packaging market. Furthermore, stringent government regulations for the packaging of sensitive medicated personal care products influence the region’s market growth. Also, the growing demand for quality cosmetics packaging fosters the growth of the market in the region. The European cosmetic packaging market is expected to grow at a high pace during the forecast period.
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Global Cosmetic Packaging Market– Competitive Analysis
Highly competitive, the cosmetic packaging market appears to be fragmented, characterized by the presence of several large and small players. To maintain their positions in the market, players adopt strategies such as acquisition, collaboration, expansion, and product/technology launch. Industry players try to expand existing production capacities in response to the increased demand for innovative and sustainable packaging solutions by brands and consumers.
Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Cosmetic Packaging Market, By Material
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
5.4.1 Market Estimates & Forecast, 2017-2023
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Keywords: Cosmetic Packaging, Cosmetic Packaging Market, Cosmetic Packaging Industry, Global Cosmetic Packaging, Cosmetic Packaging Market Forecast, Cosmetic Packaging Market Analysis