Pune, India, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global cosmetic packaging market size was valued at USD 51.60 billion in 2022 and is expected to be worth USD 53.37 billion in 2023. The market is projected to reach USD 70.94 billion by 2030, recording a CAGR of 4.15% during the forecast period.
Cosmetic products are widely popular across the world as they can enhance the overall aesthetic appearance. Cosmetic packaging solutions are gaining major traction as they play an important role in promoting makeup items with attractive packaging materials, which can attract more customers. Many advanced technologies are being used in the packaging sector to make appealing designs and texts on makeup and personal care products. These aspects are predicted to accelerate the cosmetic packaging market growth.
Fortune Business Insights™ displays this information in a report titled, "Cosmetic Packaging Market, 2023-2030."
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LIST OF KEY COMPANIES PROFILED IN THE COSMETIC PACKAGING MARKET REPORT:
- ALPLA Werke Alwin Lehner (Austria)
- Amcor Plc (Switzerland)
- Huhtamaki (Finland)
- AptarGroup, Inc. (U.S.)
- Albéa Group (France)
- Berry Global Group Inc. (U.S.)
- BIG SKY PACKAGING (U.S.)
- Gerresheimer (Germany)
- LIBO COSMETICS CO. LTD. (China)
- SILGAN HOLDINGS INC. (U.S.)
- HCP Packaging (China)
- Quadpack (Barcelona)
- Alovey Cosmetic Packaging Co. Ltd. (China)
- FusionPKG (U.S.)
- EPL Limited (India)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.15% |
| 2030 Value Projection | USD 70.94 billion |
| Market Size in 2022 | USD 51.60 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 210 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Cosmetic Packaging Market Growth Drivers | Growing Consumption of Cosmetic Items to Augment Market Progress |
| Asia Pacific to Dominate Global Market Due to Growing Adoption of Cosmetics |
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Segments:
Glass Packaging to be Widely Used Due to Ease of Recycling
Based on material, the market is segmented into plastic, paper & paperboard, metal, glass, and others. The glass segment is expected to hold the largest cosmetic packaging market share as glass-based packaging offers great durability, provides a luxurious look to the product, and can be recycled easily.
Durability and Protection Against Contamination to Boost Demand for Cosmetic Bottles
In terms of product type, the market is divided into tubes, jars, bottles, pumps & dispensers, and others. The bottles segment is predicted to account for the largest market share as they protect the cosmetics from leakage, contamination, and degradation. They are also quite durable as they are made from glass or high-quality plastic.
Skincare Products to Extensively Use Cosmetic Packaging with Rising Efforts to Protect Skin Health
Based on application, the market is bifurcated into skincare, haircare, and makeup. The skincare segment is set to account for the biggest share in the market as more customers are increasing their focus on improving their skin health. The rapid adoption of makeup products has also boosted the demand for high-quality skincare items, which will further fuel the need for durable and robust beauty packaging solutions.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
COVID-19 Impact:
Disruptions in Manufacturing & Trade Activities During COVID-19 Outbreak Affected Market Growth
The COVID-19 pandemic caused a major shift in the global supply & demand chains, trade dynamics, and logistics. Manufacturers also faced severe losses during this period. Moreover, factors, such as reduced flexible expenditure, rising unemployment rates, lockdowns, and social distancing regulations, transformed consumer behavior. Disruptions in value chain also had a major impact on the cosmetic packaging market growth. However, to survive the new restrictions, adapt to the shifting preferences of consumers, and lessen the impact of the pandemic, many companies embraced new strategies. Cosmetic manufacturers were planning to innovate their existing products and apply strategies that helped them stabilize their business.
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Report Coverage:
The cosmetic packaging market research report offers valuable quantitative and qualitative insights into the functioning of the market. Some of the quantitative insights include the market size in terms of value of each segment & sub-segment, and regions included in the report. The report also highlights qualitative insights, such as driving & restraining factors, key trends and growth avenues for the market. It also covers the competitive landscape of the industry.
Drivers and Restraints:
Growing Consumption of Cosmetic Items to Augment Market Progress
The demand for cosmetics is growing at a strong pace across developed as well as developing countries due to factors such as growing disposable income and increasing awareness regarding high-quality cosmetic and beauty products. Moreover, customers are increasing their investments in cosmetic items as many organic, green, and sustainable products are now easily available in the market. These factors are set to boost the demand for beauty packaging products.
However, enforcement of strict regulations regarding the production of cosmetics and rising environmental concerns might hinder the market growth.
Regional Insights:
Asia Pacific to Dominate Global Market Due to Growing Adoption of Cosmetics
Asia Pacific is set to hold a dominant position in the global market share as this region is fast becoming a lucrative market for cosmetics. Many reputed cosmetic brands are planning to set up their base in countries, such as India and China, to expand their customer base. The growing number of social media influencers in the region is also expected to boost the sales of cosmetic products, thereby accelerating the adoption of high-quality packaging solutions.
North America has occupied the second place in the market as the U.S. is the largest exporter of cosmetics and cosmetic packaging products.
Competitive Landscape:
Key Market Players to Focus on Increasing their Production Capacity
Many leading companies operating in the market are focusing on increasing their production capacity to cater to the growing demand for versatile and high-quality beauty packaging products. The key players in this industry include Kao Corporation, Procter & Gamble, Henkel AG & Co. KGaA, and Unilever.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Cosmetic Packaging Market
- Global Cosmetic Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Plastic
- Paper & Paperboard
- Glass
- Metal
- Others
- Market Analysis, Insights and Forecast – By Product Type
- Jars
- Tubes
- Bottles
- Pumps & Dispensers
- Others
- Market Analysis, Insights and Forecast – By Application
- Skincare
- Haircare
- Makeup
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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Key Industry Development:
January 2023: FANCL, a Japanese cosmetics and dietary supplements company, collaborated with Kirin to introduce cosmetics packaging made with the by-products of beer.
Read Related Insights:
Cosmetics Industry to Worth USD 415.29 Billion by 2028 | With a 5% CAGR
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