The global cosmetic packaging market report explores the critical analysis of the cosmetic packaging industry using key parameters. The report consists of investment strategies, the need for investments in the cosmetic packaging industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the cosmetic packaging industry and how economic and non-economic barriers are helping the cosmetic packaging market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. key technological developments, and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
Key Highlights of the report
How are the major segments performing in the Cosmetic Packaging Market?
In 2021, the skincare industry will control the market. Increased awareness about natural skin care products that have no negative effects and are helpful to the skin is expected to drive market demand in the coming years. Growing skin concerns caused by UV rays have resulted in the development of new skin products, influencing the expansion of the skincare market.
In 2021, the plastic sector will have the biggest market share and will likely increase significantly shortly. Plastic packaging is popular among manufacturers due to its wide range of applications and low cost. Companies favor plastic as a packaging material for packing products into small units, fuelling market expansion.
In 2021, the bottles sector will account for most of the market. Personal care and hair care producers are driving demand for bottles, which can be ascribed to increased demand. Plastic bottles are popular because they are light in weight (making them easy to transport) and are not easily breakable. Furthermore, because of glass bottles' enticing and luxurious appearance, there is a growing interest in bottles for perfumes and smells.
Which region dominated the Cosmetic Packaging Market?
In 2021, Asia Pacific was one of the leading global Cosmetic Packaging market regions. The expanding demand for cosmetic packaging in the region can be attributed to the growing populace, urbanization, and discretionary cash flow. Furthermore, there are less stringent rules and norms for the use of raw materials or the manufacture of packing products, as well as the simple accessibility of modest employment, attracting central parts to expand their activities in the region. Furthermore, the increased popularity of cosmetics in Asia Pacific economies is expected to benefit the cosmetic packaging industry.
What is the competitive environment of the Cosmetic Packaging Market?
The competitive environment of the Cosmetic Packaging industry provides information on total economic profit made by suppliers and businesses, sales and revenues produced in this sector, the Cosmetic Packaging market share globally, the introduction of new products, the business organization overview, and the opportunities for the industrial Cosmetic Packaging market. For instance, On March 2022, Berry Global Group and Koa cooperated to create 100% recycled plastic body cleanser and moisturizer bottles. Berry Global is committed to making a positive environmental impact through efficient processes, continuously engaged partners, and optimized goods as an industry leader in sustainability. On the other hand, Silgan Holdings announced the acquisition of Cobra Plastics Inc. in February 2020. Silgan could offer a greater choice of integrated solutions, including functioning overlaps, by combining Cobra's overlap product line with the dispensing systems aerosol actuators.
Executive Summary
What is the forthcoming cosmetic packaging industry trend?
Consumers today are motivated by ecologically beneficial solutions. Consumers' awareness of damaging packaging waste and using recycled and recyclable packaging and materials has grown. Olive Natural Skincare, a 'Certified Natural' brand from New Zealand, was certified as Zero Carbon by the independent agency Ekos in April 2022. The Ekos Zero Carbon accreditation certifies that the operation has measured and offset its entire CO2 footprint. The company is especially proud of its water-free manufacturing techniques and recyclable packaging. Olive Natural Skincare's packaging, bottles, tubes, and jars are all recyclable. They are also making strides in procuring recycled (PCR) plastic packaging.
Which are the key investments by the players in the Cosmetic Packaging Industry Market?
Cosmetic Packaging systems have been used in various industries thanks to their exceptional flexibility and capacity to be adaptable in any setting. Various investments are made throughout the key player; for instance, In May 2022, Carlyle Group stated that it had agreed to buy a 100% share in HCP Packaging ("HCP"), a global leader in the development, design, and manufacture of cosmetic packaging, from funds linked with Baring Private Equity Asia. On November 2021, Purplle, a Mumbai-based cosmetics brand, raised $60 million from Premji Invest, one of India's top investment firms.
Some of the market's significant players include Amcor, Ds Smith, Albea SA, Raepak Ltd, Sonoco, APC Packaging, Berry Global, HCP Packaging, Libo Cosmetic, Huhtamaki Oyj, Silgan Holdings Inc., Trimas Corporation. Gerresheimer AG, Aptargroup, Inc., Graham Packaging International, Quadpack Industries SA, Cosmopak USA, World Wide Packaging, Brimar Packaging USA, and Fusion Packaging Tubess.
What are the Major Dynamics Factors for the Cosmetic Packaging Market?
The changing packaging style, creative package designs, and rising demand for cosmetics due to a growing youth population are expected to drive the market throughout the forecast period. Furthermore, rising demand for cosmetics due to changing grooming patterns across genders is expected to drive the market throughout the forecast period. Manufacturers rely on substantial advertising through various channels to sell cosmetic items. Packaging innovation is critical for attracting consumers, influencing the total growth of the packaging business in the next years.
What are the Major Risks for the Cosmetic Packaging Market?
Factors such as regulatory prohibitions on using specific substances and the emergence of medical help in beauty therapy are limiting the market growth. Furthermore, a concentrated supplier base and raw materials are sourced at higher prices, providing problems for the company to package the product at a reasonable cost while maintaining overall profitability are potential barriers hindering the worldwide Cosmetic Packaging Market's overall growth.
What is the key Material in the Cosmetic Packaging Market?
Plastic dominated the Cosmetic Packaging market in 2021. Because of its low cost, lightweight, flexibility, and other characteristics, plastic is a popular material in cosmetic packaging. Plastics make shatterproof and "no-spill" bottles, jars, tubes, lids, and closures for personal care items. According to the Packaging Machinery Manufacturers Institute, plastic packaging, such as bottles, jars, compacts, and tubes, has a 61% market share in cosmetics and other personal care items, with bottles accounting for 30% of the market. The most popular and least priced HDPE cosmetic bottles are inexpensive, impact-resistant, and have an excellent moisture barrier. Lotion bottles exist in various sizes and shapes, with certain lotions preserved in sealed tubes. Furthermore, PP plastics are the most commonly utilized form of plastic for cosmetic containers. However, these can either be made of less expensive PET plastic or more expensive acrylic plastic. Acrylic plastic is often clear and looks like glass. This material has an advantage over glass because it is less prone to breaking. On the other hand, PP plastic is less expensive than acrylic and typically comes in circular or tube-like plastic containers. To suit the style of the cosmetic product or the marketing to be distributed, PP plastic containers can be shaped into heart forms, character shapes, or square shapes. Furthermore, the environmental implications of plastic have caused a slowdown in the industry during the last decade. However, the availability of recycled plastics and material technology advancements have enabled environmentally friendly packaging solutions.
How is the Cosmetic Packaging Market performing in regions?
In 2021, the Asia Pacific dominate the global Cosmetic Packaging market. China's cosmetics industry is the fastest-growing sector in recent years, thanks to an increasingly engaged customer base, accelerating the market's growth. While slowing economic growth and a visible decline in Chinese consumers' desire to spend, China's cosmetic business is a bright spot that has maintained strong growth. According to China's National Bureau of Statistics (NBS), cosmetics retail in the first quarter of 2019 climbed 10.9% yearly to CNY 75.3 billion.Consumer expenditure on cosmetics continues to rise, enabling the adoption of processed, packaged, and pricey items. Skincare and decorative cosmetics are expanding rapidly, with facial and medical skin care, particularly, seeing strong demand. Furthermore, anti-aging products designed to guard against environmental pollutants promote growth potential.
The selling of luxury goods in the Chinese market has increased significantly. Luxury product names such as La Mer, SK-II, CPB, and others, previously only available to more financially mobile women in their thirties, suddenly appear in the shopping carts of girls in their twenties. La Mer debuted a 15ml cream (half the volume of its regular offering) during 2018 Double 11 Day, which, combined with the reduced price point, persuaded many youthful people to sample the product. La Mer's limited-edition cream, which costs RMB 1,720 (USD 247), sold out within the first hour of Double 11.
What is the regulatory landscape for the Cosmetic Packaging Market?
The regulatory landscape for this industry is that governments across regions are exploring a tougher regulatory approach. For instance, Cosmetics sold in the United States must comply with the labeling requirements of the Fair Packaging and Labeling Act, Drug, Federal Food, and Cosmetic Act and the regulations issued by the Food and Drug Administration by these two statutes, whether they are manufactured in the country or imported from abroad.
What is the Market Size of the Cosmetic Packaging regarding value?
The global Cosmetic Packaging Market is expected to develop at a significant CAGR of 3.80% in the approaching years. The global Cosmetic Packaging industry was anticipated to be worth USD 50.3 billion in 2021 and USD 62.91 billion by 2028.
What are major players planning for the future of the Cosmetic Packaging Market?
The major cosmetic packaging market is substantially investing in various technologies. The global cosmetic packaging industry is growing due to an increase in the number of commercial setups. Key players are moving toward more eco-friendly packaging.
Frequently asked questions about the Cosmetic Packaging market
COVID-19 has altered customer purchasing habits by reducing non-essential spending. Cosmetics demand has decreased as a result of state-wide lockdowns and social distancing measures undertaken in nations such as the United Kingdom, the United States India, China, and many more.
The largest market share for Cosmetic Packaging was held by the Asia Pacific.
The changing packaging style, creative package designs, and rising demand for cosmetics due to a growing youth population are the dynamics of the market
Bottles had a major share in 2021.
Material segment had a major share in the global market in 2021.
