Cosmetic Packaging Market: Rising Demand and Future Scope till by 2030

Description

The cosmetic packaging market was valued at USD 26.2 billion in 2020, and it is expected to reach USD 32.5 billion by 2027, registering a CAGR of 3.7% during the forecast period of 2021-2027. In recent years, the cosmetics industry's packaging has advanced by leaps and bounds. The cosmetics industry has the most diverse packaging needs of any other industry. The materials used range from various metals to paper, plastics, and glass and create containers of various shapes and sizes and dispensing systems.

Plastic is one of the most common packaging materials used in the cosmetic business. It comes in primary containers, secondary flexible pouches, caps and closures, and the nozzle. Because it can retain liquid-solid and semisolid materials and distribute products in regulated amounts, the plastic tube is one of the most important containers in the beauty business. When compared to other containers tubes, they can also provide greater contamination prevention.

Because of the high demand for personalized beauty products, the requirement for effective packaging has expanded dramatically. Furthermore, increased consumer awareness of personal grooming boosts demand for cosmetic items, propelling the market under investigation. Face serums and oils have grown in popularity over the last five years because they provide moisturization, hydration, anti-aging, skin restoration, and blemish removal, among other advantages. These high-end items have been in high demand among the elderly. Dropper and push pump bottles have grown in popularity as a result of their growing demand.

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Global Cosmetic Packaging Market Dynamics

Drivers: Increasing Consumption of Cosmetic Products

The market under investigation is largely reliant on the global cosmetics market and is susceptible to comparable trends. The need for packaging is predicted to rise as the demand for cosmetics grows. Factors such as increasing demand for cosmetics in emerging markets, increasing consumer awareness, changing consumption patterns and lifestyles, placing a higher value on personal grooming, and rising consumer awareness of beauty products drive investments in companies that develop innovative packaging solutions.

Further, the rise in sales of cosmetic products due to the growth of e-commerce has also significantly contributed to the market. Online shopping has simplified the shopping experience for consumers, and beauty products constitute a significant share in the demand.

Restraints: Growing Sustainability Concerns

Plastic occupies a significant share in cosmetic packaging and accounts for almost 50% share when it comes to materials used to package cosmetic products. This has become a grave concern due to the plastic containers being non-bio-degradable.

Netherland-based Life Cycle Assessment agency LCA has predicted that almost 120 billion containers are used in packaging cosmetics and directly turn in the landfills. Companies have recently faced severe backlash due to the usage of excessive packaging. Companies like DoTerra and Sulpac have committed to using sustainable packaging solutions for their cosmetic products. The market is also seeing new sustainable solutions in the market. Tom's of Maine in February launched their recyclable toothpaste tube, while Quadpack also introduced their micro plastic-free packaging solutions.

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Scope of the Report

The study categorizes the cosmetic packaging market based on material, product type, and cosmetic type at the regional and global levels.

By Material Outlook (Sales/Revenue, USD Million, 2017-2027)

• Plastic
• Glass
• Metal
• Paper

By Product Type Outlook (Sales/Revenue, USD Million, 2017-2027)

• Plastic Bottles and Containers
• Glass Bottles and Containers
• Metal Containers
• Folding Cartons
• Others
  • Corrugated Boxes
  • Tubes and Sticks
  • Caps and Closures
  • Pump and Dispenser
  • Droppers
  • Ampoules
  • Flexible Plastic Packaging

By Cosmetic Type Outlook (Sales/Revenue, USD Million, 2017-2027)

• Oral Care
• Hair Care
• Bath and Shower
• Color Cosmetics
• Skin Care
• Men's Grooming
• Deodorants
• Other Cosmetic Types
  • Fragrances
  • Depilatories
  • Baby & Child Care
  • Sun Care

By Region Outlook (Sales/Revenue, USD Million, 2017-2027)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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Cosmetic packaging segment, by material type

The global cosmetic packaging market is divided into plastic, glass, metal, and paper by material type. In 2020, the plastic segment was accounted for the largest market share of 52.0%, and it is expected to register a significant CAGR from 2021 to 2027. For its lightweight, cheap cost, durability, flexibility, and other characteristics, plastic is a popular material for cosmetic packaging. Plastics are commonly used in shatterproof and "no-spill" bottles, jars, tubes, lids, and closures for personal care items. In addition to employing recycled materials, Gerresheimer is committed to assisting its clients in reducing greenhouse gas emissions through biomaterials. Biomaterials are environmentally friendly alternatives to PE/PET. Sugarcane is one of the substances used to make biomaterials, where ethanol is taken from the sugarcane plant. After converting into green ethylene, it goes to the polymerization plants, converted into green PE/PET.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global cosmetic packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to have the highest CAGR in the worldwide cosmetic packaging market during the projected period. China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific make up the region. Strong economic growth in domestic rising nations such as China, Indonesia, Malaysia, and India is driving the region's growth.

After Aisa Pacific, Middle East & Africa is the fastest-growing region with a CAGR of 4.4%. Consumers in the UAE have a wide variety of choices in terms of cosmetics and fragrances. Hence, to capture the maximum market share and enhance their market presence, the cosmetics and fragrances companies are enhancing their packaging with various materials, some of which are designed for sustainability.

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Key Market Players

Albea Group, HCP Packaging, Bemis Company Inc., RPC Group Plc, DS Smith, Graham Packaging Company, Silgan Holdings, Libo Cosmetics Company Ltd., AREMIX Packaging, and AptarGroup Inc. are some of the prominent players included in the "Global Cosmetic Packaging Market" research report.

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