The Global Cosmetic Packaging Market Size is valued at 51.4 billion in 2022 and is predicted to reach 76.6 billion by the year 2031 at a 4.69% CAGR during the forecast period for 2023-2031.
The Cosmetic Packaging industry is anticipated to be driven by evolving packaging trends, creative package designs, and rising demand for cosmetics due to the expanding youth population. The market is also anticipated to be pushed throughout the projected period by increasing demand for cosmetics due to changing grooming habits among both gender types.
The manufacturers rely on intensive advertising through various media to market cosmetic products. The key to enticing customers is innovation in packaging, which will impact the industry's overall growth in the years to come.
Emerging nations like China and Japan are also presenting a tremendous opportunity for the expansion of the cosmetics sector, where disposable money is rising, and lifestyles are changing. As a result, the rising demand for cosmetics directly impacts this sector's market, driving worldwide industry growth during the projection period. To achieve a competitive edge, the beauty sector has seen a rise in new entrants and increased product and packaging innovation. These are a few key elements the cosmetics packaging industry expects to benefit from throughout the forecast period.
Recent Developments:
- In March 2022, WWP Beauty, a leading full-service supplier to the global beauty industry, launched a portfolio of innovative and eco-friendly product, packaging, and accessory lines during the MakeUp in Los Angeles expo.
Competitive Landscape:
Some of the Cosmetic Packaging market players are:
- ABC Packaging Ltd.
- Albea S.A.
- Amcor PLC,
- AptarGroup, Inc
- Berlin Packaging
- Berry Global, Inc.
- Big Sky Packaging
- DS Smith PLC
- Fusion Packaging,
- Gerresheimer AG
- Graham Packaging International,
- HCP Packaging
- Huhtamaki Oyj
- Libo Cosmetics Company, Ltd
- Quadpack Industries
- RPC Group Plc
- Sonoco
- TriMas Corporation,
- Worldwide Packaging LLC
Market Segmentation:
The Cosmetic Packaging market is segmented by type, material, and application. Type segment includes bottles, tubes, jars, containers, blister, aerosol cans, folding cartons, flexible plastics, and others. By the basis of material, the market is segmented into glass, metal, paper-based, rigid Plastic, and flexible packaging. Application segment includes skin care, hair care, color cosmetic, sun care, oral care, and fragrances & perfumes.
Based On Application, The Skin Care Segment Is Accounted As A Major Contributor To The Cosmetic Packaging Market
The market was dominated by the skincare category. In the upcoming years, it is projected that rising consumer knowledge of natural skin care products—which have no side effects and are actually good for the skin—will drive market demand. Increasing skin issues brought on by UV rays have prompted the development of new skin solutions, which has had an impact on the expansion of the skincare market. The industry demand for the category is being impacted by the launch of new product lines such as anti-aging, sun protection, and anti-wrinkle creams throughout the projected period.
Rigid Plastic Packaging Segment Witnessed Growth At A Rapid Rate
The rigid plastic market segment had the greatest market share and is expected to grow rapidly in the coming years. Plastic packaging enjoys a high level of favour among producers because of its versatility and affordability. Companies favour Plastic as a packaging material because it allows them to compact the product into small units, which is causing the industry to rise.
The North America Cosmetic Packaging Market Holds A Significant Revenue Share In The Region
With a share of the market, Asia Pacific was in the prominent place and is expected to see a rapid CAGR going forward. Over the course of the prediction, Japan will contribute the bulk of shares in Asia Pacific. The market in the region has been pushed by the introduction of various product variations and growing consumer adoption as a result of increased awareness of multiple benefits, such as anti-tanning solutions.
Cosmetic Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 51.4 Bn |
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Revenue forecast in 2031 |
USD 76.6 Bn |
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Growth rate CAGR |
CAGR of 4.6 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, Volume (Unit) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type, Material, And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Amcor PLC, Berry Global Inc., Sonoco, Albea SA, HCP Packaging, TriMas Corporation, AptarGroup Inc., DS Smith PLC, Worldwide Packaging, Graham Packaging International, and Libo Cosmetics Co., Ltd. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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