Published: Feb, 2018
The global cosmetic jars packaging market is expected to witness rising levels of competition over the years, driven by significant strides being experienced by the cosmetics industry. The rise in investments in developing novel packaging and design applications in the sector is expected to attract an influx of new players, finds Transparency Market Research (TMR). Meanwhile, the leading players are also likely to consolidate their positions over the assessment period. Top players operating in the market include Bonex d.o.o., Akey Group LLC, Raepak Ltd., P. W. Masterchem S.J., HCP Packaging (Shanghai) Co. Ltd., Quadpack Industries, Libo Cosmetics Company Ltd., Gerresheimer AG, Albea SA, and RPC Group Plc.
Several prominent companies are focused on offering premium packaging solutions for meeting the needs of demanding clients, in a move to gain a competitive edge over others. They are also coming up with innovative and attractive packaging designs for the cosmetics industry in a bid to differentiate their offerings from others.
The estimated valuation of the global cosmetic jars packaging market exceeded US$3.9 bn by the end of 2017. The market is projected to rise at steady CAGR of 5.1% from 2017 to 2022 and is expected reach a worth of more than US$5 billion by the end of the forecast period.
Intensifying Demand for Attractive Packaging in Cosmetics Industry to boost Market
The cosmetic jars packaging market is projected to expand primarily on the back of intensely rising global demand for attractive as well as robust packaging for a wide range of cosmetic products. With packaging occupying an increasingly greater role in driving consumer appeal in the cosmetics industry, the market is expected to garner potential revenues in the coming years. The striking advance being made by the cosmetics sector, globally, can be attributed to the rising demand for a wide array of cosmetics among urban populations to protect their skin and enhance appearance. Moreover, in various developing and developed countries, the rising level of pollution has stimulated the demand for personal care products, which in turn is driving the demand for cosmetic packaging.
The attractive demand for small, disposable and trendy packaging options is a noteworthy factor boosting the cosmetic jars packaging market. The advent of easy dispensing options is a noticeable trend accentuating the growth of the market. In addition, the use of cost-effective materials used by manufacturers for making packaging jars in a variety of sizes is a crucial factor expected to contribute to the positive growth of the market.
Rapidly Rising Uptake of Cosmetics in Urban Populations in Emerging Economies to Propel Demand
The popularly rising demand for affordable and durable packaging suitable for a variety of cosmetic products is boosting the market. In addition, the ability of these packaging materials to mold them to suit variety of shapes also bodes well for their demand among manufacturers. For instance, there is a substantial preference of plastics, notably polypropylene plastic containers, as packaging materials since these are cost-efficient to mass produce, remarkably soft, and can be produced in a wide variety of shapes.
Advancements in technologies for designing and creating cosmetic jars are expected to unlock exciting prospects for market players. The rapid pace of urbanization in several parts of the globe is also expected to witness substantial uptake of cosmetics products, thereby providing a robust thrust to the demand for jars packaging. The vastly rising disposable incomes of populations in emerging economies, especially in Asia Pacific, is catalyzing the uptake of cosmetic jars packaging.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Cosmetic Jars Packaging Market (Capacity - Below 50 ml, 50 ml - 100 ml, 100 ml - 150 ml, 150 ml - 200 ml, More Than 200 ml; Application - Skin Care, Hair Care, Makeup, Nail Care; Material - Plastic, Metal and Wood, Glass) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022”
- The rising uptake of cosmetics with attractive and effective packaging that scores high on consumer appeal is driving the market.
- The substantial demand for a wide variety of cosmetic products among urban populations world over will create promising avenues over the assessment period.
The global cosmetic jars packaging market is segmented based on:
- Below 50 ml
- 50 ml - 100 ml
- 100 ml - 150 ml
- 150 ml - 200 ml
- More Than 200 ml
- Skin Care
- Hair Care
- Nail Care
- Metal and Wood