Global Cosmetics and Perfumery Glass Bottles Market - Segmented by Product Range (Color Cosmetics, Low Mass Range Products, Medium Mass Range Products, Premium Perfumes, and Cosmetics), and Region - Growth, Trends, and Forecast (2018 - 2023)
The cosmetics and perfumery glass bottles market was valued at USD 1.48 billion in 2017, and is expected to reach a value of USD 2.18 million by 2023 at a CAGR of 6.79%, over the forecast period (2018 - 2023).The scope of the report is limited to products offered by major players including providers of color cosmetics, low mass range products, medium mass range products, premium perfumes, and cosmetics. The regions considered in the scope of the report include the United States, Canada, the United Kingdom, Germany, France, Russia, China, India, Japan, and the rest of the world.
Packaging plays an important part of the aesthetics and functionality of cosmetic and perfumery products, and can affect the consumer's purchase decision about a particular product. Glass bottles are widely used owing to the technical superiority of the material. Molded glass bottles are currently being used extensively in the cosmetics and perfumery industry. From the marketing perspective, the distinctiveness that glass bottles presents to a product externally, is vital for product differentiation. The evolution of various design, styles, shapes, material combinations, and decoration technologies has been helpful in propelling the use of glass bottles in the cosmetic and perfumery industry.
Growing Demand for Small and Mid-Range Perfume Segments Fuels Growth of Glass Bottles in Perfumes
Small and mid-range perfumes need a unique, compact, convenient, and cost effective packaging, which has led manufacturers to come up with unique and interactive types of packaging, for each different product. This trend, coupled with the growing demand for product differentiation and rising disposable income across emerging economies, is set to boost the growth of the market. However, increased competition from plastic based packaging solutions, which are cheaper and more convenient, might hinder the growth of the market.
Medium mass-range products is expected to hold the largest market share, owing to a large number of consumers depending on these products in their daily lives. Medium mass-range products can satisfy many customer demands for a relatively reasonable price, making it a solid choice among a large number of end-users. The rise of the application for the segment has led to an increased emphasis on more interactive and intuitive designs for products which is expected to boost the growth of the market.
Need For Color Cosmetics Drives the Market for Glass Bottles.
Product innovation, competitive environment, and endorsement from key influencers fuelled color cosmetics sales across the globe. Also, the increasing number of working individuals across the globe is resulting in increased spending capacity of cosmetic products, which in turn is leading to increased sales of quality cosmetic products. Increasing product penetration in the color cosmetic market through online retailing channels is a major factor driving the growth of color cosmetic market across the globe.
Sales of cosmetics and perfumes through e-Commerce is further anticipated to witness significant growth during the forecast period, owing to the higher adoption rate of smartphones, as they offer convenience, in terms of comparing the availability of a wide range of products and prices. Companies are also opting to develop products where the production costs are low so that they can concentrate on the packaging material. For instance, Oriflame is considering to begin production of its color cosmetic-products in its Indian Wellness Factory in Uttarakhand, a move that is hoped to develop its exports from the country and lower production costs to provide more intuitive and interactive packaging designs.
France is one of the hotspots for Cosmetic Products
France is one of the largest markets for perfumery and cosmetic products in Europe. France is hailed as the fashion capital of the world, with established perfume manufacturers based out of France. The country is known for housing the most renowned and coveted brands in the world. Stylistically innovative and technically exceptional, the outstanding reputation of the French fashion industry, can dated as far back as the 17th century, and it has a reputation that has only continued to strengthen since.
France also holds a very dominant place regarding international perfume sales, with domestic cosmetics and perfumes brands being recognized among the most influential brands across the globe. The French fragrance market has been ranked second highest in the health and beauty industry in 2016, and it continues to thrive against the backdrop of a highly competitive environment, with Chanel, Dior, and Guerlain occupying the major share. Besides these top three players, more than 40 other different players also operate in the French perfumes market.
Key Developments in the Market
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