PUNE, India, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The Global Cosmetic Packaging Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global cosmetic packaging market size was estimated to be US$ 30 billion in 2019 and expected to reach US$ 48 billion by 2030 at a CAGR of 4.5%. Cosmetic packaging refers to the primary layer of packaging of cosmetic products such as cans, tubes, pouches, bags, jars. Businesses have been observed to advance toward manufacturing items in a recyclable and eco-friendly packaging, because of the rising ecological concerns among the customer base. The increasing demand for cosmetics from the young population that is on the rise, is driving the growth of the market. Innovation in packaging is the key to attracting new consumers, which is acting as a new opportunity for the Cosmetic Packaging manufacturers.
The cosmetic packaging industry is likely to witness tremendous growth in demand, as e-commerce, social media, and low-cost products open up local landscape for small, and large players alike. The e-commerce remains a key trend driving growth of the cosmetic industry, with some challenges like erosion of branding for established products. However, the rising demand for natural, and cost-efficient products also open up new opportunities as the healthier nature of the new industry continues to bring new consumer base, especially older working women, with increased spending.
View This Report With Table of Contents: https://www.insightslice.com/cosmetic-packaging-market
The erosion of loyalty for branded products remains a major concern for large players in the cosmetic packaging markets. Hence, solutions to meet e-tail requirements, in terms of aesthetics, and resistance to damage during logistic operation remain a key driver of growth in the cosmetic packaging market. The key concern for large players will likely be offset with major brands like L’Oréal turning towards influencer-driven marketing to drive growth. The lower cost of advertising on social media, and increasing streamlining of marketing operations, thanks to platforms like Facebook, YouTube will promise major gains for players in the cosmetic packaging market.
The changing lifestyle around the world is expected to drive demand for smaller, and easy-to-put on, and remove cosmetic products globally. The rising demand from working women often coupled with office wear, and their increased purchasing power is likely to remain a key trend in growth of the cosmetic packaging market. The rising trend will also drive growth of small packaging as hygiene concerns, and changing lifestyle become the norm for working women. Moreover, the trend will also likely demand for more portable, and cost-effective, and safe cosmetics. The small packaging is likely to suit the trend as their functionality, and sustainability remains ahead of the pack as compared to the larger segment. Moreover, the large segment is also expected to find new takers as developed markets continue to pose limited scope for expansion with age-old packaging. The innovation remains key to drive growth in these markets.
Access The Sample Pages of This Report: https://www.insightslice.com/request-sample/570
Skincare leads the Type segment of the Cosmetic Packaging Market: The Type segment is dominated by the skincare market. Today, there is an increasing awareness surrounding the kind of products for skin care that make use of only natural ingredients, which have no adverse or long term harmful effect, when applied on the skin. This is anticipated to propel the market demand in the foreseen years. The launch of several new product lines in the Cosmetic’s market, such as anti-aging, sun protection, and anti-wrinkle creams, is influencing the market demand for the segment in the forecast period.
Make-up is anticipated to emerge as the fastest-growing segment over the forecast period. The population of working women is on the rise, over the past few years, which has influenced the market growth to a great extent and has been one of the major factors responsible for the growth of the Cosmetic Packaging Market segment.
Related report:
Global PET Packaging Market: https://www.insightslice.com/pet-packaging-market
Global Halal Cosmetics Market: https://www.insightslice.com/halal-cosmetics-market
Global Premium Cosmetics Market: https://www.insightslice.com/premium-cosmetics-market
Material segment of the Cosmetic Packaging Market is dominated by Plastic: The Material segment is led by Plastic as the material for the Cosmetic Packaging. A plethora of cosmetic products are packaged with the help of plastic in one or the other form, due to its qualities of simple convenience and hygiene. Plastic is popular mainly because it is inexpensive, light weight, and versatile. However, the prices of raw material are fluctuating, which is hindering the market growth.
Today, the manufacturers are looking to reduce and replace plastic with more environmental friendly biopolymers, to reduce the carbon footprint. In addition to that, several companies are introducing products that counteract environmental issues by making use of bio plastics and recycled materials. Companies are pondering over the possible adoption of sustainable packaging, resource efficiency, and lifecycle assessments of their products. Paper and wood are expected to gain traction in the material segment, due to the increasing focus on environmental issues.
The region of Asia Pacific holds the largest market share of the Cosmetic Packaging Market in the Regional Segment: The Asia Pacific cosmetic packaging market is expected to grow at a noteworthy rate throughout the forecast period. The demand from the countries like India, China, and Indonesia, leads the Cosmetic Packaging Market, owing to numerous factors such as the rising consumer preference for eco-friendly products, and the increasing demand for compact sizes of packaged goods, which are some of the factors driving the growth in the market of the Asia Pacific region. Furthermore, there is a growing market for anti-aging products, e-commerce sector, and a demand for high-end, luxury products in these regions, which is giving the Cosmetic Packaging Market a major boost. The Middle Eastern region is expected to grow at a significant rate in the forecast period. The Muslim dominated countries, such as those of Saudi Arabia and UAE, are expected to lead the Cosmetic packaging market in this regional segment, owing to their great demand for cosmetic products, which can only grow in the near future. The increasing demand for halal cosmetic products has driven the market in the region. This has, in turn, led to an increasing demand for the cosmetic industry, which has given rise to an increase in demand in the cosmetic packaging industry as well.
Buy This Report: https://www.insightslice.com/buy-now/570
The key players of the global cosmetic packaging market include Amcor Ltd (Australia), Rexam Plc. (U.K), Silgan Holding Inc. (U.S.), World Wide Packaging Llc (U.S.), Quadpack Group (Spain), Albea Group (France), Aptargroup Inc. (U.S.), Cosmopak U.S.A. Llc. (U.S.), HCP Packaging. (U.S.), LIBO Cosmetics Company Ltd. (Taiwan), Gerresheimer (Germany), ABC Packaging (India), and Bemis Company, Inc. (U.S.).
About us: insightSLICE is a market intelligence and strategy consulting company. The company provides bespoke and off the shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions. For more details please contact our research and consulting team at info@insightslice.com.
Contact Us:
Alex,
insightSLICE
Phone (USA): +1 707 736 6633 Email address: alex@insightslice.com
Web: www.insightslice.com