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 2027, registering a 5.2% CAGR during the anticipated period (2020 – 2027). Recent trends show that Consumers mostly prefer lightweight yet durable and easy to carry packaging solutions.
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.
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Market Segmentation
The global cosmetic packaging market has been segmented based on materials, products, and applications. On the basis of materials, the market for cosmetic packaging is segmented based on plastic, glass, metal, and paper. Additionally, the market on the basis of products, is segmented into bottles & jars, containers, dispensers, pouches, rollerballs, sticks, tubes, and others. The global market for cosmetic packaging is also covered based on applications segment which is further split into hair care, skin care, and others.
Major elements such as lack of skilled designers could obstruct the cosmetic packaging market growth. However, according to the cosmetic packaging market research report, the advancement of varied packaging styles along with innovations in packaging will propel growth throughout the forecast period. The cosmetic packaging market is set to register growth at a high CAGR owing to these key factors. The exploration of materials, products, and applications segments along with regional markets has been given in the global cosmetic packaging market research report. The research analysts studying the cosmetic packaging market have put out market forecasts in the cosmetic packaging market research report in order to support cosmetic packaging market-based companies. The cosmetic packaging market research report provides an extensive understanding of the cosmetic packaging market based on the information and forecasts till 2027.
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.
Competitive Landscape
Improvements in disposable income and changing standards of living are presumed to drive the cosmetic packaging market growth worldwide. The global cosmetic packaging market could be challenged by intense competition, nevertheless, organizations in the cosmetic packaging market will carry the growth rate forward. The cosmetic packaging market research report presents company profiles of major companies active in the cosmetic packaging market globally. Furthermore, the global cosmetic packaging market report offers an all-inclusive analysis of the market collected from the cosmetic packaging market’s primary and secondary sources covering both decision makers and thought leaders. The cosmetic packaging market research report highlights such key areas assisting businesses operating in the cosmetic packaging market to build better growth strategies.
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Industry News
The Hut Group (THG) has launched for its consumers a recycling regime for cosmetic packaging. The global network in Manchester has launched its recycling initiative known as recycle: me by THG (eco). This allows consumers to return all beauty items to the company for recycling, irrespective of their brand. Consumers on THG beauty pages in the United Kingdom will have to wash out and return their beauty items free of charge. They can also return items of any brand, although they were not bought from THG.
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