Global Cosmetic Packaging Market - Segmented By Material (Plastic, Glass, Paper), Production Type, Cosmetic Type, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The Global Cosmetic Packaging Market was valued at USD 26.22 billion in 2017, and is expected to reach about USD 34.09 billion by 2023, recording a CAGR of 4.3%, over the forecast period of 2018-2023.
Cosmetic packaging refers to the casing or primary packaging of cosmetics in packaging products, such as bottles, cans, pouches, tubes, bags, and jars, among others. The major packaging materials considered within the scope of the study include, plastic, metal, and glass, primarily. Vendors have been observed to move toward adopting recyclable and ecofriendly packaging products due to growing environmental concerns among the consumers. Urbanization and growing awareness about personal grooming have led to the expansion of the consumer base for cosmetic products. The demand for innovative designs and colors in packaging products, and focus on packaging for brand differentiation are the primary factors driving the growth of the market. Plastic has emerged as the material of choice for cosmetic packaging because of its versatile nature.
3D printing has significantly changed the consumer’s sensorial experience. It is expected that the technology will have a significant effect on packaging over the coming years. Major brands are designing innovative products, and require high packaging standards to allow the product to stand out, supported by marketing activities. It is expected that in the future, the brands harnessing technologies, such as virtual reality, can create a blended reality into their packaging solutions. The aesthetically appealing packaging is being used by manufacturers to attract consumers by providing customized and innovative packaging solutions, create awareness by differentiating their products, and establish the brand in the market.
Plastics Segment Accounts for a Dominant Market Share
Globally, some of the plastic packaging products that are widely used by manufacturers of cosmetics are bottles, jars, squeezable tubes, and containers. In terms of volume, the hair care, deodorants, and personal care segments are the largest contributors to this market. The demand for tamper-evident closures, sprays, and pumps is expected to lead to demand for materials with high-barrier properties that can provide greater protection, such as plastics, which will drive the growth of this market. Plastic is a cost-effective and easily available material, which enables manufacturers to utilize the product for effective packaging. The inert nature and flexible nature of resins have led to plastic evolving as an ideal choice for packaging manufacturers, given the highly dynamic and demanding nature of the packaging industry.
Asia-Pacific Expected to Occupy Major Market Share
Rapid urbanization, increase in disposable incomes, and growing awareness about health and hygiene are some of the major factors driving the growth of the market. Countries, such as China, India, and Vietnam, are likely to witness rapid growth during the forecast period. As a result of growing demand for cosmetic products, APAC is expected to witness substantial demand for cosmetic packaging during the forecast period.
Major Players - Amcor Limited, Rpc Group Plc, Libo Cosmetics Company Ltd, HCP Packaging Co. Ltd, Aptargroup Inc., Cosmopak Ltd, Quadpack Industries SA, Rieke Packaging Systems Ltd, Albea SA, Ds Smith Plc, Gerresheimer Ag, And Raepak Ltd among others.
Key Developments in the Market
- Nov 2016 - Amcor Rigid Plastics acquired Sonoco’s global plastics blow molding business in North America. This acquisition will directly supplement the company’s strategy to meet the consumer’s growing needs. The deal will further help Amcor expand its extrusion and injection molding assets and adding advanced decorating capabilities.
Reasons to Purchase this Report
- Impact of sustainable cosmetic packaging and the emergence of organic cosmetics on the overall cosmetic packaging market.
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis.
- Growth of various materials, such as plastics, metal, and paper.
- Regional analysis of the market.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst supports, along with the Market Estimate sheet (in Excel)
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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