Cosmetic products are all the rage with the new age population owing to a number of factors. These are helping the global cosmetic packaging market chart a significant growth trajectory over the forecast period of 2018 to 2026. As per Transparency Market Research, these will create a notable market worth and help generate a slew of new opportunities. Besides, it is notable here that environment sustainability is a significant trend in such packaging solutions.
Developments and growth factors that are marking the global cosmetic packaging market are outlined below:
- Eco-friendly packaging is witnessing massive demand and is a natural outcome of the millennial consumer getting increasingly conscious of his choices. And, as environmental deterioration caused by use of non-biodegradable products is catching on, demand for green packaging solutions will only see an upward growth curves.
- Social media influencers are not just creating a higher beauty standard of what’s considered normal and acceptable, driving sales of cosmetics, but a number of significant ones are also leading to demand for sustainable packaging products. Besides, packaging, attractive and functional, is also witnessing a higher demand in the market landscape. Technology is also leading to growth in the market in a major way.
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The global cosmetic packaging market is analysed by Transparency Market Research to find opportunities and analyse future trends. The report titled “Cosmetic Packaging Market: Global Industry Analysis, Opportunity Assessment, 2018 – 2026” states that the increased premiumization of cosmetic products and advancements in printing technology are propelling the growth of global cosmetic packaging market. The global cosmetic packaging market is expected to create an incremental $ opportunity of US$ 14,250.92 Mn during the forecast period.
Rising Demand for Hair Care & Skin Care Products
Cosmetic packaging is gaining market traction with remarkable growth throughout the forecast period primarily, due to an increase in demand from millennials in emerging markets such as India, Brazil, and South Africa. Global hair care & skin care industries are growing with higher annual growth rates. Anti-ageing products such as creams, shampoos, and hair conditioners are some of the prominent products driving the global cosmetic packaging market. Rising awareness of anti-aging products amongst the female population is one of the primary factor boosting the sales of the global cosmetic packaging market.
Positive Impact of Internet/E-Commerce Retailing
E-commerce penetration into rural and urban areas is driving the global cosmetic industry sales, which, in turn, are driving the growth of the global cosmetic packaging market. Rising cross border sales and penetration of internet into emerging markets is expected to boost the sales of cosmetics. The increasing presence of millennials on social media helps them explore more global cosmetic brands which, in turn, is driving the sales of cosmetic packaging.
- For instance, Estee Lauder generated 12% revenue in the U.S., and 8% of its global sales were derived through e-Commerce retailing.
- Apart from Estee Lauder, L’Oreal also generated 25% of its revenue through E-Commerce retailing.
Demand from Commercial Setups
The growing number of commercial setups is driving the global cosmetic packaging market. Factors such as changing lifestyles of the people, services provided by the beauty and wellness industry, increasing middle-class population of the Asia Pacific countries is expected to drive the growth of the global cosmetic packaging market. Moreover, the usage of color cosmetics in commercial establishments is comparatively higher than in households. This trend is expected to continue during the forecast period and is expected to drive the demand for cosmetic packaging. Improving economic conditions, coupled with the rising emphasis on grooming, in the emerging markets is the major driver influencing the demand for cosmetic packaging.
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Global Cosmetic Packaging Market: Trends
Advancements in Material & Printing Technology
Packaging printing technology is driving the global cosmetic packaging sales. Advanced and trending printing technologies such as hot stamp foil printing and flexography are helping cosmetic manufacturers to offer innovative and eye-catching packaging for their cosmetics. New advances in material and printing technology have opened up various design trends for cosmetic packaging. Manufacturers are using polypropylene films for premium cosmetic packaging where biaxially-oriented polypropylene (BOPP) are preferred as packaging material for cosmetics. 3D printing technology is the new trend being adopted by the cosmetic packaging manufacturers globally. 3D printing gives an aesthetic look to the product, and is generally used to package cosmetics, fragrances, and shampoos.
Global Cosmetic Packaging Market Volume is Projected to Expand 1.5X from 2018 – 2026
In the global cosmetic packaging market report, key players from different geographical regions with research and development, high production, and supply channel facility are profiled. Company overview, strategies to compete in the market, product lines, company revenue, and segmental share of key players in the cosmetic packaging market are evaluated in the competitive landscape. Key manufacturers operating in the global cosmetic packaging market include Aptar Group, Inc, RPC Group Plc, Gerresheimer AG, Amcor Limited, Libo Cosmetics Company, Ltd., Quadpack Industries, HCP Packaging, Fusion Packaging, ABC Packaging Ltd., Swallowfield Plc, Saverglass sas, Essel Propack Ltd, Albea S.A., Quadpack Ltd, Coverpla S.A., The Packaging Company, Smurfit Kappa Group PLC, Alovey Cosmetic Packaging Co., Ltd, HCT Group, and Rise Cosmetic Packaging Co., Ltd.
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