Published: Jan, 2018
There are numerous players operating in the global cosmetic packaging market. The rivalry among them is intense and most of them are seen banking upon product development to steal a march over their competitors. They are leveraging superior technologies and materials to come up with better packaging solutions. They are also seen utilizing 3D or multi-dimensional image innovation.
Some of the prominent players in the global market for cosmetic packaging are Amcor Limited, Gerresheimer AG, Aptar Group Inc., Quadpack Industries, RPC Group Plc, Libo Cosmetics Company Ltd., ABC Packaging Ltd., Fusion Packaging, Albea S.A., and HCP Packaging. Overall, the market is a lucrative one thereby egging many aspiring players to set their gaze on it.
The market for cosmetic packaging worldwide will likely expand at a steady yet lackluster CAGR of 4.4% during the period from 2016 to 2024, predicts a research study by Transparency Market Research (TMR). At this rate, the market which was valued at US$23 bn in 2015, is expected to attain a value of US$33 bn by 2024-end.
The different cosmetic packaging materials available in the market are plastic, glass, metal, paper, and wood. Plastic, among them, accounts for a dominant share in the market. Both in terms of value and volume, it is expected to account for half the share in the market over the course of the forecast period from 2016 to 2024. However, increasing shift towards more eco-friendly packaging materials such as paper, wood, and metals is expected to eat into some of the demand for plastic.
Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa are some of the key regions in the global cosmetic packaging market. Of these, Asia Pacific is expected to rack up maximum revenue in the next couple of years because of both the presence of numerous manufacturers and a large pool of buyers in the region.
Soaring Cosmetic Sales and Product Development Boosts Market
Increasing consciousness about looks among people of all age groups, particularly the younger demographic, has led to the growing demand for cosmetics, which in turn has stoked demand in the market for cosmetic packaging. Yet another prominent growth driver in the market is the constant thrust on innovation by the success-hungry players. They are seen investing in research and development of superior products that not just have enhanced functionality but also attractive appearance.
Adds the lead analyst of the TMR report, “Prominent cosmetics and personal care brands are banking upon effective and attractive packaging to create brand visibility and thereby up sales. Packaging, thus, has become an effective marketing tool for them.”
Fallout of Plastic Packaging on Environment to Promote Eco-friendly Ones
A noticeable trend in the global market for cosmetic packaging is the shift towards more eco-friendly packaging solutions. With plastic gaining notoriety on account of its non-biodegradable nature, other materials such as wood and paper are gaining popularity. Players are also seen experimenting with other innovative packaging materials such as melamine, bamboo, and silicone.
This review is based on the findings of a TMR report, titled, “Cosmetic Packaging Market (Material - Glass, Plastic (PET, PP, PE), and Plastic; Application - Skin Care, Hair Care, Make up, and Nail Care; Container Type - Jars, Tubes, Bottles, Pumps and Dispensers, Sachets, Rolling Balls, Sticks, Pen Type; Declared Capacity - Type 1 (Below 50 ml), Type 2 (50–100 ml), Type 3 (100–150 ml), Type 4 (150–200 ml), and Type 5 (Above 200 ml)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.”
The Global Cosmetic Packaging Market is segmented as below:
Global Cosmetic Packaging Market, by Material
Global Cosmetic Packaging Market, by Application Type
- Skin Care
- Hair Care
- Make up
- Nail Care
Global Cosmetic Packaging Market, by Container Type
- Pumps & Dispensers
- Other (Rolling Balls, Sticks, Pen type etc.)
Global Cosmetic Packaging Market, by Declared Capacity Type
- Type 1 (Below 50 ml)
- Type 2 (50 ml – 100 ml)
- Type 3 (100 ml – 150 ml)
- Type 4 (150 ml – 200 ml)
- Type 5 (Above 200 ml)
Global Cosmetic Packaging Market, by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- North Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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