Cosmetic and Perfume Glass Packaging Market – Recyclability is the New USP
As the packaging industry bears the brunt of ‘sustainability concerns’, manufacturers have no choice but to adhere to the environmental books, and yet, devise innovative solutions in this confined space. Moving a step ahead from plastic material to complete the dual quest for eco-friendliness and recyclability, manufacturers are observed taking an innovative approach to achieve high sales of glass-based solutions for the packaging of cosmetics and perfumes.
Manufacturers in the cosmetic and perfume glass packaging market are realizing the fact that, glass is 100% recyclable with a very low carbon profile, and sizeable efforts are being dedicated to recover more materials for reuse. According to a report published by Transparency Market Research (TMR) on the cosmetic and perfume glass packaging market, quality, visual appeal, and durability will occupy a common spot on the labels of glass bottles, while the recyclability and eco-friendly attributes of glass packaging will remain prominent differentiators.
As consumer preference for packaging solutions changes from aesthetic appeal to functionality, glass performs mediocrely on the scales of ‘convenience’. Given the fragile and bulky attributes of glass bottles, consumers need to take ample care while traveling with these bottles, as even a tiny crack can lead to breakage or loss of cosmetics and perfumes.
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Market Consolidation Mantra: Invest in R&D Activities to Advance in the Landscape
Innovation is the only constant parameter in the cosmetic and perfume glass packaging market, as manufacturers operating at all scales work towards distinguishing their products. With millennials being the key demography for the cosmetic and perfume market, focus on the development of youth-friendly glass packaging solutions is increasing.
Glass bottles with unique designs stand out on the shelves of supermarkets, which has instigated manufacturers to leverage technology. In recent times, 3D printing technology has been gaining grounds in the cosmetic and perfume glass packaging market, as printing technology offers the desired shape, size, and design to glass bottles.
Also, considering the reluctance of consumers towards the purchase of products contained in a glass bottle, on account of their fragility, manufacturers are investing resources towards the development of unbreakable solutions. A key market player, Verescene, announced the launch of unbreakable glass bottles, which can withstand the impact of falling from a height of 1.8 meters.
Actionable Strategies for Players in the Cosmetic and Perfume Glass Packaging Market
In the fragmented cosmetic and perfume glass packaging market, leading players hold a rich product portfolio and huge global mass, while prominent companies boast technological prowess and benefit by catering to local markets.
Given the growing focus of consumers on personality enhancement products, the number of beauty parlors and salons are on the rise, which ensures promising sales opportunities for cosmetic products and fragrances. Market players can enter into a long-term partnership with these end-users, and take into consideration their personalized requirements to enjoy a marginal growth in the landscape.
Since modern businesses operate on the very principles of a circular economy model, manufacturers can collaborate with suppliers that recycle glass materials in order to upkeep the ‘sustainability quotient’ of their glass packaging solutions.
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Premiumization of Cosmetic Products at the Core of Cosmetic and Perfume Glass Packaging Market Growth
- According to Transparency Market Research’s latest market report on the cosmetic and perfume glass packaging market for the historical period of 2014 – 2018 and forecast period of 2019 – 2027, rising inclination of perfume manufacturers to achieve enhanced aesthetic appeal and steady demand for grooming & personal care products are projected to drive the growth of the cosmetic and perfume glass packaging market.
- Globally, revenue generated by the cosmetic and perfume glass packaging market has been estimated to be ~US$ 5 Bn in 2019, and is projected to expand at a CAGR of ~5% in terms of value during the forecast period.
Beauty Influencers on Social Media Changing the Dynamics of Product Packaging
- With the increase in online shopping, the dynamics of product packaging and shipping have evolved, which has positively affected the global cosmetic and perfume glass packaging market. Furthermore, the number of beauty influencers has risen rapidly in the past few years, which is expected to play a key role in the growth of the global cosmetic and perfume glass packaging market.
- Increased engagement between the millennial population and these influencers has made cosmetics companies keen to ensure that they offer competitive cosmetic and perfume glass packaging solutions so that their products gain traction on social media, which is likely to boost the sales of cosmetic and perfume glass packaging formats.
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