In today’s world, different companies rely on innovative cosmetic and personal care packaging and advertising to draw the attention of buyers. A consumer chooses a product that is portable, compact, convenient, and eco-friendly. Packaging material plays an important role in style of the product and increase demand and make it attractive. All such factors affect the market value of the product.
Packaging for cosmetic and beauty products are specialized for protection, consumer functionality, and brand positioning. The advancement of new and varied packaging styles and innovation in packaging plays a major role in driving the growth of the cosmetic packaging market. Moreover, emerging economies are providing huge growth opportunities for cosmetic products due to improvements in disposable income, rising awareness regarding personal care, changing standards of living, and innovative designs, such as sprays and sticks. With a greater number of brands and products entering the beauty market, innovation, packaging efficiency, and demand for product differentiation are some of the factors leading the market growth. Many companies are looking for sustainable and eco-friendly packaging for cutting down waste, which is generated by cosmetic packaging,
The development of new and diversified technologies is creating exciting opportunities within the packaging industry. The global cosmetic packaging market size is projected to attain a share of more than USD 35.6 billion at a CAGR of 5.2%, by 2023.
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Recent trends show that rapid investment in cosmetics and toiletries, demand for beauty products, such as facial moisturizers and cleansers, and different pack shape strategies provide growth opportunities the cosmetic packaging market. Consumers mostly prefer lightweight, durable, portable products such as perfume and cosmetics for easy carrying purpose. With the increased focus on health, brands and retailers offer innovative beauty and personal care products, which are designed for the consumers. Cosmetic manufacturers need to emphasize on cosmetic packaging as it plays a key role in retaining existing customers and attracting new ones.
The global cosmetic packaging market is segmented on the basis of material (plastics, paper, glass, metal, and others), product (bottles & jars, tubes, containers, pouches, sticks, rollerballs, dispensers, and others), applications (hair care, skin care, and others), and geography (North America, Europe, Asia Pacific, and thhe Middle East & Africa).
Global Cosmetic Packaging Market-By Material
The different cosmetic packaging materials available in the market are plastic, glass, metal, and paper. A wide variety of cosmetic packaging is made from plastic, due to its convenient and hygienic qualities. Plastic is mainly popular due to its low cost, light weight, cost effective, and versatility. However, fluctuating raw material prices hindering the market growth. Nowadays, brand owners are looking to reduce and replace plastic with biopolymers to reduce carbon footprint. Moreover, companies are introducing products that counteract environmental issues by utilizing bio plastics and recycled materials. Companies are considering sustainable packaging, resource efficiency, and lifecycle assessments of their products. Paper and wood material segment might gain momentum due to increasing focus on environmental issues.
The Asia Pacific cosmetic packaging market is expected to grow at a high pace during the forecast period. Demand from India, China, and Indonesia lead the cosmetic packaging market, owing to factors such as rising consumer preference for eco-friendly products and increasing demand for small packaging sizes are some of the factors driving the growth of the market in Asia Pacific. Moreover, rising consciousness about anti-aging products, e-commerce sector, and demand for high-end, luxury products in these regions are further pushing the market growth.
The key players of the global cosmetic packaging market include Amcor Ltd (Australia), Rexam Plc. (U.K), Silgan Holding Inc. (U.S.), World Wide Packaging Llc (U.S.), Quadpack Group (Spain), Albea Group (France), Aptargroup Inc. (U.S.), Cosmopak U.S.A. Llc. (U.S.), HCP Packaging. (U.S.), LIBO Cosmetics Company Ltd. (Taiwan), Gerresheimer (Germany), ABC Packaging (India), and Bemis Company, Inc. (U.S.)
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