The popularity of various cosmetic products is increasing among a wide range of population from all across the globe.This scenario is creating prominent salesopportunities for the companies in the global cosmetic industry, thereby propelling the global cosmetic packaging market during the forecast period 2018–2026.
According to the analysts at the Transparency Market Research, the global cosmetic packaging market is expected to cross the valuation of US$ 14.2 Bn by 2026.
Cosmetic Packaging Market: Key Findings
Surge in Demand for Green Packaging Solutions Drives Market Expansion
With the growing awareness and concerns pertaining to the environment, major population from all across the globe is inclined toward the use of environment-friendly products. Thus, companies engaged in the cosmetic industry are adopting green packaging solutions for their products.On the back of this trend, the players in the cosmetic packaging market are expected to leverage growth opportunities in the upcoming years.
Rise in Popularity of Anti-aging Products Boosts Market Sales
With the growing awareness about and attraction toward aesthetics, the popularity of different anti-aging products is increasing at a consistent pace, specifically among female population across the globe. A noteworthy growth in the use of anti-aging products is observed in major parts of the world. This factor is driving the sales of cosmetics, thus offering expansion opportunities to cosmetic packaging market players.
Industry Leaders Focus on Novel Packaging Printing Technology
Packaging printing is one of the trending technologies fueling the growth of the cosmetic packaging industry. The cosmetic product manufacturers across the globe are inclining toward the use of various advanced printing technologies, including flexography and hot stamp foil printing owing to their ability to provide eye-catching and innovative packaging for their cosmetics. This is creating lucrative avenues for players in the market.
Increased penetration of Internet and eCommerce in rural and urban areas globally has resulted in high sales of cosmetics. Thus, the rise in the sales of cosmetic products is likely to drive the demand curve for the players in the cosmetic packaging market. Moreover, the surge in cross-border sales is another factor fueling market growth.
In recent years, there has been a noteworthy growth in the engagement of millennial population across various social media platforms. This consumer base is inclined toward exploring latest international cosmetic brands.This trend is projected to offer promising growth opportunities in the cosmetic packaging industry.
Asia Pacific is a dominant region in the cosmetic packaging market. This dominance of the region can be attributed to increased consumption and production of cosmetic packaging, improved spending power of major regional population, and presence of many important market players in the region.
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