The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cosmetic packaging includes containers such as plastic bottles, jars, tubes and other packaging materials such as cartons, boxes and other flexible packaging. They provide protection as well as help enhance the aesthetic appeal of cosmetic products such as creams, lotions, gels, liquids and makeup.
Market key trends:
One of the major trend in the cosmetic packaging market is the growing demand for sustainable and eco-friendly packaging solutions. Rising environmental concerns among consumers have increased the demand for packaging materials which are made using recycled content. Many key players are focusing on developing packaging solutions made from recyclable plastics, paper and renewable sources in order to meet this growing demand. For instance, Amcor launched the world’s first post-consumer recycled plastic bottle for premium skin care products made from 50% recycled polyethylene terephthalate.
Market key trends
The cosmetic packaging market has seen a rise in demand for eco-friendly and sustainable packaging solutions. Manufacturers are focusing on developing packaging from recycled materials to reduce plastic waste and carbon footprint. Sustainable paper packaging and glass containers are gaining popularity in the market. Additionally, the ongoing trend of customization has prompted vendors to provide interactive and personalized packaging designs.
SWOT Analysis
Strengths: Aptar Group and RPC Group are well-established players with strong global presence and capabilities.
Weaknesses: Rising raw material prices can squeeze the margins of manufacturers. Short shelf life of certain cosmetic products is also a challenge.
Opportunities: Growing male grooming trend and demand in emerging economies offer lucrative growth opportunities. Increasing adoption of organic and natural cosmetic products also provides opportunities.
Threats: Stringent regulations regarding use of materials can increase compliance costs. Intense competition from local players is another threat.
Key Takeaways
The Global Cosmetic Packaging Market Size was valued at US$ 31588.71 Mn in 2023. The market is expected to grow at a CAGR of 3.8% during the forecast period due to increasing spending on personal care and beauty products.
The Asia Pacific region dominated the market with over 30% share in 2023 owing to rising disposable incomes and changing lifestyles in countries such as China and India. Growth in e-commerce is further driving the sales of cosmetic products in the region.
Key players operating in the cosmetic packaging market are Aptar Group, Inc., RPC Group Plc, Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, Quadpack Industries, HCP Packaging, Fusion Packaging, and ABC Packaging Ltd. These players are focusing on developing innovative and sustainable packaging with improved functionality.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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