In terms of revenue, the Global Cosmetics Packaging Market is expected to reach USD 63.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.9% from 2022 to 2028.
Cosmetics Packaging is mainly the packaging of Cosmetics Packaging products like tubes, pouches, cans, bags, jars, and others. They are usually prepared with durable materials to protect the products from radiation damage and mold growth. The packaging materials include plastic, paper, metal, and glass. Factors such as the increased demand for cosmetics products because of the growing youth population base drive market growth. In addition, the changes in the packaging style and innovative package designs to attract consumers are likely to propel the market expansion during the forecast period. Besides, the growing demand for cosmetics owing to shifting trends of grooming in both gender types will boost sales.
Key Highlights from Report:
- Among types, the bottles segment holds the most significant market share in the forecast period. This is due to factors such as the growing demand for bottles from the personal care and hair care manufacturers driving the need for this segment.
- The skincare sub-segment of the application segment accounted for the largest market share during the forecast period. This segment is expected to flourish owing to the factors such as the rising awareness regarding natural products for skin and the high demand for new and innovative skincare ranges like face creams, sunscreens, anti-aging creams, etc., propelling the need for this segment.
- Asia Pacific dominates the Cosmetics Packaging market and will continue its dominance during the forecast period. This is due to the increasing demand for cosmetic products in emerging nations and the increase in consumer awareness. Moreover, the high investments of manufacturers to develop unique and innovative packaging solutions in the Asia Pacific region will drive the market's growth in the future.
The growth of the global market can be attributable to significant factors such as the increasing consumption of cosmetic products. Cosmetics manufacturing is rapidly growing in developed and developing regions. In addition, consumers are increasingly opting for cosmetics with organic, green, and cleaner ingredients. As cosmetics brands aim for better products, also they are branding their products trendily with innovative packaging to attract more consumers. This will likely fuel the demand and boost the production.
Furthermore, the demand for eco-friendly Cosmetics Packaging solutions is escalating primarily with the rising consumer awareness of the environment. Also, customers have become more aware of choosing products that endorse eco-friendly or green packaging solutions. Besides, digital transformation provides beneficial opportunities because consumers are becoming more aware of different products available in the market with the help of social media and online platforms.
Asia Pacific market is anticipated to observe significant market growth with the highest CAGR in the coming years. The region’s market growth can be attributable to consumers' increased adoption owing to the growing awareness of several benefits, such as anti-tanning solutions. Moreover, the introduction of different varieties of the product is driving the market growth in this region. Furthermore, emerging countries like Japan and China are providing a massive growth prospect for this market owing to changing lifestyles and growing disposable income. Thus, increasing demand for cosmetics directly impacts the need for this industry, thereby propelling the global industry growth in the forecast period. Besides, the rise in new entrants in the market is leading to an increase in innovation in products and packaging for gaining a competitive benefit, which will propel the regional market growth in the future.
The Global Cosmetics Packaging Market is Segmented as follows:
- Blister & Strip Packs
- Aerosol Cans
- Folding Cartons
- Flexible Plastics
- Other Types (including Tins, Liquid Cartons, & Flexible Paper)
- Rigid Plastic
- Flexible Packaging
- Skin Care
- Hair Care
- Color Cosmetic
- Sun Care
- Oral Care
- Fragrances & Perfumes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Cosmetics Packaging Market is:
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)
The Global Cosmetics Packaging Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|