Cosmeticpackaging market sizewas valuedat USD35.50billion in2021.Thecosmeticpackaging market industry is projected to grow from USD 37.00 billion in 2022 to USD 53.38 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.69% during the forecast period (2022–2030). In response to rising environmental consciousness, the need for sustainable options in the cosmetics industry has increased dramatically. Recently, consumers have shown a heightened interest in supporting businesses that offer “green” or environmentally friendly packaging options.
Therisein expendableincomelevels of customers andaccess to onlineshopping sites areexpected to spur demand in Cosmetic Packaging Market. Rise in consumer confidence indices and need for domestic solutions are factors favoring the market. Investments in right decoration and tubing technology which adhere to environmental laws can spur the market growth. Availability of various tube formats and packaging designs will entice customers and drive consumer spending.
The COVID-19 pandemic has brought production of cosmetics to a standstill. The proliferation of the virus has led to concerns of products and brought to the forefront of safety of cosmetics and their packaging. Investments in packaging techniques that adhere to social distancing norms and lowerrisks of contamination arein high demand in themarket. Agreements with regional suppliers and ecommerce players to ensure no disruptions in the supply chain are likely to sustain demand in the global cosmetic packaging market.
Competitive Outlook
Albea Group, Quadpack Group, Silgan Holding Inc., World Wide Packaging Llc, Amcor Ltd, LIBO Cosmetics Company Ltd., Rexam Plc., HCP Packaging, Bemis Company, Inc., ABC Packaging, Aptargroup Inc.,Gerresheimer,andCosmopakU.S.A.Llcarekeyplayersoftheglobal cosmeticpackaging market. Innovationin product containers andpackaging materials areofprime concern to players and play an instrumental part in their strategies.
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Segmentation
Theglobal cosmeticpackagingmarket issegmentedonthebasisofmaterial (plastics,metal,paper, glass,andothers),product(pouches,sticks,bottles&jars,tubes,containers,rollerballs,dispensers, and others), applications (skin care, hair care, and others).
The different cosmetic packaging materials available in the market are plastic, glass, metal, and paper. The plastic segment is expected to gain a major market share due to its convenient and hygienic qualities. Plastic is mainly popular due to its low cost, light weight, cost effective nature, and versatility. However, fluctuating raw material prices can hinder its growth in the market. Nowadays, brand owners are looking to reduce and replace plastic with biopolymers to reduce carbonfootprint.Paperandwoodmaterialsegmentsmightgainmomentumduetoincreasingfocus on environmental issues.
Regional Analysis
Geographically, the regions analyzed in the global cosmetic packaging market include North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America is expected to capture a large market share owing to large number of consumers in the U.S. and the huge disposable income levels. The local demand and export of various cosmetics can drive the regional market demand. The evolution of cosmetic product packages and formulas can favor the market exponentially.
The APAC 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. Moreover, rising consciousness about anti-aging products, e-commerce sector, emphasis on skin care by both genders, and demand for high-end luxury products in these regions are further pushing the market growth.
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