Cosmetic Packaging Market to Reach USD 66.5 Billion by 2027 | CAGR 4.3% – Forencis Research

Cosmetic Packaging Market - Global Industry Analysis and Forecast 2020 to 2027

Global Cosmetic Packaging Market: Key Highlights

  • According to the new market research report Cosmetic Packaging Market by Type (Bottles, Tubes, Roller Ball, Jar and Others), by Material (Glass, Metal, Plastic, and Others), by Application (Hair Care Products, Skin Care Products, Lip Care Products, Eye Care Products and Nail Care Products), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Cosmetic Packaging market is estimated to reach USD 66.5 Billion by 2027 at a CAGR of 4.3% within the forecast period.
  • Cosmetic is the topical products used for enhancing or changing the appearance of the skin, hair and body.
  • Cosmetic packaging protects against the external factors, which may reduce the shelf life of the products
  • The packaging includes bottles, tubes, rollerball, jar and others in the form of primary, secondary or tertiary packaging to prevent spoilage of the beauty products

Cosmetic Packaging Market

Global Cosmetic Packaging Market: Key Market Dynamics

  • Growth in the cosmetic industry owing to the rise in preference towards enhancing personal visual appeal is driving the market growth
  • Rising preference towards attractive packaging options to boost the consumer buying behavior by the manufacturer is fueling the market growth  
  • Fluctuation in raw material prices, especially for the plastic material, hinders the market growth
  • The emergence of bio-based cosmetic packaging to reduce the environmental impact of cosmetic waste acts as a promising factor driving the market growth
  • Lack of strict regulation on the packaging dedicated to cosmetic products beyond Europe is acting as a challenge for the cosmetic packaging market

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Global Cosmetic Packaging Market: Regional Overview

  • North America

North America is one of the attractive market for skin and hair care products. Growing preference towards beautifying the visual appearance among the youth as well as the old population in the region is driving the cosmetic industry growth. Rise in per capita income, increase in beauty clinics, higher brand awareness with shifting consumer spending towards skincare, is favoring the sales of cosmetic products. Higher internet penetration leading to easy access to online shopping of cosmetic products, further adds the overall regional value in the cosmetic packaging market. Studies revealed that, in 2018, Americans spent more than USD 12 billion on beauty and personal care products via online shopping medium.

Due to rapidly rising cosmetic industry, the demand for cosmetic packaging in the region is expected to grow in the forecast period.

  • Europe

Europe is the prominent and flagship producing region for cosmetic and beauty products globally. As per Cosmetic Europe, among the total European population, around 500 million uses beauty and cosmetic products every day. Growing consumer spending on cosmetic products is expected to drive the market growth ahead. European spent around €135 per year on purchasing cosmetic products., according to Cosmetic Europe. Increasing preference of the older population to spend on the cosmetics over the young population in the region further propels the demand for the cosmetic packaging market. Strict regulation imposed by the European authorities regarding usage of safe cosmetic packaging materials is expected to drive the demand for bio-based cosmetic packaging in Europe.

Global Cosmetic Packaging Market: Key Players Overview

  • Amcor plc:

Amcor plc is Australia based company deals in manufacturing packaging solutions for food, beverage, pharmaceutical, medical, home and personal care sector. The company focuses on offering flexible packaging, rigid packaging, specialty cartons and closures. Amcor plc has its strong foothold in North America, Western Europe, Australia, New Zealand and other emerging markets. In July 2019, Amcor plc acquired the United States-based Bemis Company Inc. The acquisition has brought additional scale, capabilities and footprint to the existing value of the Amcor plc.  

  • Aptar Group, Inc.:

Aptar Group, Inc. is a packaging company offering innovative dispensing, sealing, active packaging solutions. The company has a strong foothold in North America, Latin America, Asia and the European region. Aptar Group, Inc. operates through three business segment namely Beauty+Home, Pharma and Food + Beverage. The company is actively involved in expanding its reach and product portfolio through recent strategic ventures. In February 2020, the company acquired FusionPKG (US), a company offering high quality, prestige airless and color cosmetics packaging for North America Market.

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Rep Id : PK 026

Published : 2020-09-18

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