Cosmetic Container Packaging Market Size, Share, Trends, Growth, Analysis, Future Scope By Material (Plastics, Glass, Metal and other), By Application (Skin care, Hair care, Bath & shower, Cosmetics and Others) and Region - Forecast To 2023
Cosmetic Container Packaging Market Overview
Since past decades, the competition in the global cosmetics bottle packaging was at a minimal stage, but now the market is predicted to hot up and rise owing to growing thrust on research and development by key market players with introducing new innovative cosmetic packaging products.
Up on this, Market Research Future has come up with its latest report on the global Cosmetic Container Packaging Market, stating that the market will grow steadily at 4.5% CAGR and might achieve USD 39 billion market share globally by 2023. Such expected proliferation of the market promises with massive opportunities and is also likely to rise with the entry of new aspiring players.
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The key players of global Cosmetic Container Packaging Market include
- Amcor Ltd. (Australia)
- Albea Group (Luxembourg)
- CCL Industries (Canada)
- Sonoco Products Company (U.S.)
- Sinclair & Rush, Inc. (U.S.)
- Essel Propack Ltd (India)
- Huhtamaki (Finland)
- Montebello Packaging (Canada)
- World Wide Packaging LLC (U.S.)
- Unette Corporation (U.S.) and others.
Cosmetic Container Packaging Market Drivers & Trends
The latest scenario portrays that the global Cosmetics Packaging Market is mainly driven by expanding urbanization and high penetration of cosmetic products through e-commerce and retail channels. The packaging in the current time uses the technology of 3D printing and airless bottles, which are being introduced by cosmetic packaging manufacturers to meet the fast-changing requirements of the consumer.
On the other hand, the development of new and diversified packaging styles, and high potential in emerging economies is continuously providing enormous growth opportunities, especially for personal care products. Thus, the market of cosmetic bottle packaging is creating exciting opportunities within the packaging industry that will eventually boom the market with higher CAGR in the years to come.
Further, the international cosmetic bottles packaging is mainly gaining limelight in the Cosmetic Container Packaging Market in the current scenario. The international packaging styles are envisioned to be strongly driven by the growing purchase power of consumers along with popularity. Also, the market is highly motivated by the factors of easy availability of the product with an innovative packaging style. With that mentioned, the elevating count of young consumers using cosmetic products is also projected to contribute toward market growth significantly. Even, the younger population category is expected to be attracted mainly to packaging innovations which will continue the market to grow in the next five years.
Another critical factor which is seamlessly supporting the Cosmetic Container Packaging Market is the influence of the long-term air quality and climate goals. The augmented demand for airless tubes and the availability of high-quality packaging material globally, at a very low cost, are significant drivers for the global Cosmetic Container Packaging Market. These airless tubes are mostly adopted ideas with lightweight rigid plastics on the usage of it is creating high demand among the consumers. In the current scenario, lightweight packaging is becoming immensely popular among the consumers as it helps in the reduction of transportation and carriage costs and hence leads to increased profits.
On the flip side, some level of fluctuation in prices for the raw material will restrict the global cosmetics packaging market over the forecast period.
Cosmetic Bottle Packaging Market Segmentation
By the reports published in MRFR, the global Cosmetic Container Packaging Market has segmentation based on material, application, and region.
By material type, the market is classified into plastics, glass, metal, and others. Various packaging products such as pen type, sachets, roller balls, etc. remain easily customizable for decent appeal and functionality of packs. The introduction of airless bottles has made plastic containers more secure and reduced from chemical contamination. The most commonly used plastic type used for cosmetic packaging is PP (Polypropylene), PE, PET, HPE and acrylic ingredients.
By application type, the market is classifying into skin care, hair care, bath & shower, cosmetics, and others. The skin care segment of the global bottle cosmetic packaging market is expected to grow at a substantial rate with the increasing adoption of skin care and anti-aging products, hence boosting the demand for cosmetic bottle packaging solutions over the forecast period.
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Region wise, the market has covered some of the major regions of North America, Asia Pacific, Europe, and the rest of the world.
Among them, Asia Pacific is accounted to witness the fastest growth rate of Cosmetic Container Packaging Market owing to the increasing popularity of cosmetics in this region since some years back. The existence of a considerable number of vendors in this region is observed as an additional factor which is boosting the market growth impressively. The region will also witness robust growth over the forecast period with growing cosmetics demand mainly originating from China, India, South Korea, Malaysia, and Thailand among others.
Whereas, Europe could tread on the heels while the expansion of the market is at a higher CAGR. Next is the North America which is expected to account the market share with a US$1.7 bn revenue predicted to be secured by 2023 owing to some of the best and renowned international cosmetic brands that are flourishing globally rapidly.
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