Global Cosmetic Packaging Market Projected to Value over US$ 45 Billion by 2026 End

  • 07 Jun 2019

The global cosmetic packaging market is forecasted to value over US$ 45 billion by the end of 2026 and register a CAGR of over 4.5% during the forecast period of 2019-2026.

There has been an upsurge in the utilisation of social media which has pushed research and marketing boundaries in the field of cosmetics. Companies like HiMirror, who make an Alexa-integrated smart mirror, has opened up a completely different market for cosmetics. Due to the high rise in requirement of cosmetic products from across the world, companies are putting efforts in every minute detail of their product, and one of the major aspects of a cosmetic product is its packaging. It is significant because a good packaging helps in protecting the product. It is also good for the functionality of the end user which in turn helps in portraying a good brand position in the market. The ever-increasing global demand for cosmetic products has led to companies developing and implementing various innovative packaging solutions that will help them expand their consumer base. Improvements in disposable income, changing lifestyles, higher awareness for personal care in the minds of people are providing huge opportunities for market growth in emerging economies. Also, numerous companies are focussing more on the sustainable and eco-friendly packaging for waste cut-down which is generated by cosmetic packaging. Various resources like glass, plastic, metal and paper are used as packaging materials for manufacturing equipment like cosmetic containers, jars, bottles, sticks, pen types, roller balls, etc which has introduced a variety of market segments to companies. There have been cases where the packaging has single-handedly lifted the sales of cosmetic products. Technological advancements have also helped in the reduction of costs required for manufacturing the cosmetic packages which make it easy for global market expansion.

Insights on Cosmetic Packaging Market:
By Region

•    North America
•    Europe
•    Asia Pacific
•    Latin America
•    Rest of the world
North America is dominating the global market due to the rise in utilization of cosmetic products by the general population. Europe ranks next in the global market presence due to the importance given to personal appearance. The most lucrative market is the Asia Pacific region due to the presence of a huge number of domestic manufacturers and the changing scenario in the economic sector will result in technological advancements. The Latin America region too is expected to attain a higher growth rate in the global market. Rest of the World is expected to acquire a small share and gain traction during the forecast period.

By Material type
•    Plastic
•    Paper
•    Glass
•    Metal

Plastic is still predominantly used for cosmetic product packaging due to its light weight, durability and low cost. The security of plastic containers has increased due to the introduction of airless bottles and it also reduces the possibility of chemical contamination. The plastic segment is expected to dominate the market during the forecast period. 

By Container Type
•    Bottles
•    Pen Types
•    Tubes
•    Dispensers
•    Containers
•    Closures
•    Sachets
Bottle packaging still leads the cosmetic packaging market and is expected to witness a rise in growth rate during the forecast period as well. The major reason for this dominance is the versatility of usage of the bottle for packing lotions, fragrances, creams and other products. For the sake of better protection, packaging vendors have introduced the concept of airless bottles which has also helped this segment to lead the global cosmetic packaging market.

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the global cosmetic packaging market by region, by material type, by container type
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies.

 

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