The global cosmetic bottles packaging market is projected to improve its value to a significant high in the coming years. The buying decision of cosmetic product consumers could be influenced by the technique, material, and design of packaging. Besides marketing cosmetic products, packaging could play a critical role in protecting them from damage during handling or traveling. Cosmetic bottles packaging is foreseen to be one of the important factors considered by industry players to achieve a competitive edge over other manufacturers and keep up with changing trends.
The global cosmetic bottles packaging market is forecasted to rise at a CAGR of 5.0% during the forecast timeframe 2017–2024 to touch a revenue valuation of US$8.3 bn by the concluding forecast year. In 2017, the market earned a valuation of US$6.5 bn.
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Capacity of Below 50 ml to Clock up Spiraling Revenue Share in Future
The world cosmetic bottles packaging market is envisioned to be segregated according to capacity, material, and application, where each category could incorporate a leading segment creating ample of favorable prospects for players. For instance, as per capacity, the market could see a segmentation into below 50 ml, 50 ml–100 ml, 100 ml–150 ml, 150 ml–200 ml, and above 200 ml. Out of these segments, below 50 ml is prognosticated to bag a king’s share in the market while expanding at a 4.9% CAGR.
According to type of material, the world cosmetic bottles packaging market is prophesied to be classified into metal, glass, and plastic. In view of application, the market could be cataloged into skin care, hair care, makeup, and nail care.
All of these segments are closely assessed in the report while comparing their revenue, market share, and Y-o-Y growth by region achieved between 2012 and 2024.
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High Hopes Set on APEJ Expected to Lead Market with Overpowering CAGR
In terms of geographical segmentation, the international cosmetic bottles packaging market is anticipated to be segregated into different regions and a single country. While there could be little hopes of growth expected from underperforming Japan and the Middle East and Africa (MEA) markets, Asia Pacific except Japan (APEJ) is predicted to garner a higher share by the end of 2024. During the course of the forecast period, APEJ could gain 143 basis points (BPS) in its market share.
Europe is prognosticated to reach a noteworthy revenue valuation of US$2.3 bn by 2024 end, presenting itself as a lucrative region for the international cosmetic bottles packaging market. North America could also be of great interest for players looking for opportunities in the market. It could grow at a higher CAGR of 5.0% than that of Europe. Latin America is expected to be another segment important to keep an eye on when operating in the market.
The worldwide cosmetic bottles packaging market could experience the presence of top players such as Aptar Group, Inc., RPC Group PLC, Gerresheimer AG, Amcor Ltd., Albea Beauty Holdings S.A., Rebhan FPS Kunststoff Verpackungen GmbH, HK Cosmetic Packaging GmbH, Silgan Holdings, Inc., Quadpack Industries S.A., and Witoplast Kisielinscy Spólka Jawna.
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