Cosmetics Packaging Market

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Global Cosmetics Packaging Market was valued at USD 50.3 Billion in 2021 and is projected to reach a value of USD 63.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 3.9% over the forecast period.

The booming cosmetics market is anticipated to boost the Cosmetics Packaging industry during the forecast period by rising demand for cosmetics due to changing grooming habits among both gender types. The makers rely on intensive advertising through various media for cosmetic products. The cosmetic sector has seen a rise in new entrants, which has prompted product and packaging innovation to increase to obtain a competitive edge. These are key elements the Cosmetics Packaging industry expects to benefit from throughout the forecast period. The recent increase in e-commerce and internet usage in urban and rural areas has also impacted the demand for Cosmetics Packaging. Consumer attraction is the primary driver of package innovation, impacting the industry's overall growth.

Additionally, businesses have been concentrating on the consumer segment of the middle class. This has prompted businesses to offer the product in smaller packaging, which impacts the demand for the packaging sector. Due to the development of innovative packaging techniques, adopting eco-friendly and sustainable packaging has significantly impacted the industry's overall growth. The expansion of the industry is greatly aided by innovation in the companies' product lines. In addition, as more customers learn about the products offered in the market via social media and online channels, digital transformation is providing profitable chances. The rapid digital transformation has increased competition in specialized and customized cosmetic packaging. Additionally, rising cosmetic brands employ novel packaging alternatives to expand their market presence and gain a competitive edge over established brands. The competition between the opposing companies is anticipated to support market expansion.

Top Market Trends

· The cosmetics market is anticipated to boost the Cosmetics Packaging industry during the anticipated timeframe by rising demand for cosmetics due to changing grooming habits among both gender types.

· In 2021, the plastics segment held the largest market share at 67%.

· In 2021, the skin care application had the largest share of the market at 52%.

· With companies' presence in developing nations, the cosmetic packaging market can benefit from lucrative expansion potential. To satisfy client needs, industry participants are creating new and high-quality items.

Market Segmentation:

The Cosmetic Packaging Market is segmented by Type, Materials, Application, and Region. Based on the Type, the market is further segmented into Bottles, Tubes, Jars, Containers, Blister & Strip Packs, Aerosol Cans, Folding Cartons, Flexible Plastics, and Other Types (including Tins, Liquid Cartons, & Flexible Paper). Based on the Materials, the market is further divided into Glass, Metal, Paper-based, Rigid Plastic, and Flexible Packaging. Based on the Applications, the market is segmented as Skin Care, Hair Care, Color Cosmetics, Sun Care, Oral Care, and Fragrances & Perfumes.

Based on Application:

The Skin Care category dominated the market in 2021

The Skin Care category held the largest share in the market growth. This commanding market position results from the enormous increase in demand for personal care and grooming products worldwide. The change in lifestyle and purchasing habits has increased interest in health, grooming, and personal care products (especially among young people and males), which has created a market opportunity for the skin care industry. Commercially made skincare products are used to moisturize, clean, and protect the skin on the hands, face, and body and reverse the signs of aging. Most consumers buy these things from women, but male consumers become more interested as lifestyles change. Manufacturers invest a lot of time and resources into developing anti-aging products. A growing number of manufacturers are attempting to break into this lucrative market using a variety of strategies, such as product innovation and mergers and acquisitions, because of the growing interest in anti-aging skin care products for younger skin and skincare products enriched with vitamins C, E, collagen, and other ingredients to delay aging. The biggest names in skincare are developing more inventive ways to cover the cost of developing products that delay aging and acne.

Based on Materials:

Plastics Category Dominated the Market in 2021

The Plastics category held the largest market share. The advantages of being lightweight and providing an economical packaging option for cosmetic items drive up demand in this market. The low cost and wide application of Plastics will enhance the category demand during the forecast period. Moreover, the increased preference for plastics to pack small units among key players is another factor driving the market growth. Due to their performance advantages and sustainability, extrusion-based plastic packaging items like wraps & films, pouches, and bags are frequently used in the nation's consumer and industrial applications. The high percentage of organized retail in the country has also considerably boosted the use of plastic packaging. Most beauty care items are packaged in plastic since they are the safest and generally cleanest. Due to its nuclear and compound makeup and nature, Plastic can fracture and break, but it does so much less frequently than glass does. However, manufacturers are switching to eco-friendly and green packaging because of rising social consciousness, which may slow category expansion. Businesses continue to favor plastic as a packaging material to cater to the middle-class demographic. This, in turn, can overcome the restraining factor due to many economic groups worldwide.

Based on Regional Analysis:

Asia Pacific had the Largest Share in 2021

The Asia Pacific accounted for the largest share in 2021 and is estimated to register the highest growth in the market during the forecast period. The development of demand for cosmetic packaging in the area can be ascribed to the region's expanding population, urbanization, and disposable income of the inhabitants. Small occupations are easily accessible, and there are also fewer restrictions on using raw materials or creating packaging goods, which encourages the central portions to increase their activity in the region. The development of demand for cosmetic packaging in the area can be ascribed to the region's expanding population, urbanization, and disposable income of the inhabitants. Small occupations are easily accessible, and there are also fewer restrictions on using raw materials or creating packaging goods, which encourages the central portions to increase their activity in the region.

Competitive Landscape:

The key players in the Global Cosmetics Packaging Market include- Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Albea SA (France), HCP Packaging (China), TriMas Corporation (US), AptarGroup Inc. (US), Gerresheimer AG (Germany), DS Smith PLC (UK), World Wide Packaging LLC (US), Graham Packaging International (France), Libo Cosmetics Co. Ltd. (China) and others.

Recent Developments:

· In April 2022, Using ExxonMobil's Extend technology for increased recycling, Amcor, a global pioneer in creating and producing environmentally responsible packaging solutions, announced that it will be the first to obtain certified circular polyethylene material.

· In March 2022, Berry Global Group collaborated with Koa to introduce 100 % recycled plastic body cleanser and body moisturizer bottles. Berry Global, as an industry leader in sustainability, is committed to making a positive environmental effect through streamlined processes, continuously engaged partners, and optimized goods.

· In May 2022, Carlyle announced that organizations connected to Baring Private Equity Asia would cooperate to purchase a 100% stake in HCP Packaging, a market leader in the design, development, and production of cosmetic packaging.

· In December 2020, AptarGroup opened a new sales office in Dubai. This sales office will be operated for all three segments of the company: beauty & home, food & beverage, and pharma. With this expansion, the company aims to target customers from several countries in the Middle East.

Segmentation of the Global Cosmetics Packaging Market: