Cosmetic packaging products include bottles, jars, cans, tubes, and other containers used to hold beauty and personal care products such as skin care creams, makeup, fragrances, and sunscreens. The rising demand for sustainable and eco-friendly packaging from consumers and stringent government regulations regarding the usage of plastics are fueling the demand for innovative packaging solutions made from recycled and bio-based materials.
The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainable packaging is one of the major trends being witnessed in the cosmetic packaging market. There is an increasing demand for eco-friendly packaging from consumers due to rising awareness regarding plastic waste and its harmful impact on the environment. Manufacturers are developing innovative packaging solutions made from recycled, bio-based plastics and glass to cater to this demand. They are investing in research & development of sustainable alternatives like paper-based packaging and aluminum and glass bottles which can be reused or easily recycled. This shift towards sustainable packaging helps companies gain a competitive advantage by improving their brand image and meeting regulatory compliances regarding plastic reduction.
SWOT Analysis
Strength: The cosmetic packaging market has high demand due to rising disposable incomes and increasing penetration of e-commerce channels globally.
Weakness: Issues like high setup cost and sustainability concerns related to plastic packaging.
Opportunity: Growing demand for anti-counterfeit packaging and premiumization of cosmetic products offer new opportunities.
Threats: Stringent regulations on usage of plastics and availability of alternatives like wood-based packaging pose threats.
Key Takeaways
The Global Cosmetic Packaging Market Size is expected to witness high growth. The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
Asia Pacific dominates the market currently due to large population and rising middle class in countries like China and India. The region is expected to grow at fastest pace on back of increasing disposable incomes.
Key players
Key players operating in the cosmetic packaging market are AFG Industries, Asahi Glass Company (AGC), AYG Coating Glass Co. Ltd., Cardinal FG, Gold Plus Glass, Guardian Industries, HNG Group, Jinjing Group, NSG Group, Pilkington, PPG Industries, Saint-Gobain, Sejal Float Glass, Shanghai North glass Technology & Industry Co. Ltd., and Zhejiang Glass Company Limited. These players focus on offering innovative and sustainable packaging solutions to attract customers.
*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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