ALBANY, New York, March 13, 2020 /PRNewswire/ -- Packaging is an important aspect of marketing and is often seen as a silent salesman for its noteworthy role in driving impulse buying. But the role is not just limited to the better aesthetics and branding. Consumers are now preferring sustainable solutions and functional options in terms of design. As players take note, market readies itself to chart sturdy growth over the coming few years.
As per Transparency Market Research, "The global cosmetic packaging market is set to chart a 4.7% CAGR from 2018 to 2026, taking the market worth up to USD 14.25 bn. by the end of the forecast period."
Key Findings of Global Cosmetic Packaging Market Study
Owing to a massive shift of consumer preference away from plastic due to its negative impact on the environment, the paper segment would grow at an impressive pace
- In terms of application, hair care segment would grow at a CAGR of 5.2%; skin care segment would account for a large market share in terms of value and volume
- Capacity-wise, less than 50 ml to be a prominent segment, owing to greater affordability of small packs and their ease of handling
For a detailed analysis of cosmetic packaging market by material, application, container, and capacity, visit at https://www.transparencymarketresearch.com/cosmetic-packaging-market.html
Key Driving Factors of Global Cosmetic Packaging Market
A number of factors propel growth in the global cosmetic packaging market. Certain prominent trends and drivers that mark the landscape are outlined below:
- Increase in disposable income, coupled with fall in prices of cosmetics due to rising competition is leading to higher consumption of cosmetic products
- Growth in e-commerce and internet penetration is helping players get into their fold a previously untapped consumer-base
- An extremely appearance-conscious millennial consumer-base is set to take the market on to a higher growth trajectory
- Sustainable packaging to see an increasing number of takers in the market owing to increasing environmental awareness
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/2352
Regional Analysis of Global Cosmetic Packaging Market
- Both in terms of production and consumption, Asia Pacific to dominate the Global Cosmetic Packaging Market
- Presence of a large number of key players to underscore growth in APAC
- China and Japan to remain at the forefront of growth in the regional over the forecast period
- Europe to chart a growth rate of 4.3%, compounded annually, from 2018 to 2026; Germany and France to be major contributors of growth
Analyze cosmetic packaging market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape in Global Cosmetic Packaging Market
As per Transparency Market Research, the vendor landscape of Global Cosmetic Packaging Market is fragmented and key players are highly focused on coming up with sustainable packaging solutions as consumer awareness regarding waste production and environmental degradation is quickly catching on.
Some of the most notable players in the market that are also profiled in the market report by Transparency Market Research are 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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Global Cosmetic Packaging Market Segmentation:
- Others (Ceramic)
- Skin Care
- Hair Care
- Make Up
- Nail Care
- Pumps & Dispensers
- < 50 ml
- 50- 100 ml
- 100 - 150 ml
- 150 - 200 ml
- >200 ml
- North America
- Latin America
- Asia Pacific region (APAC)
- Middle East & Africa (MEA)
Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:
Metal Cosmetic Packaging Market – The Global Market driven by increasing trend for flexibility & affordability has led to the consumption of smaller pack sizes; metal cosmetic packaging market is expected to witness sales revenue of ~ US$ 4.4 Bn, registering a CAGR of ~4% in 2019.
Cosmetic Packaging Machinery Market – The cosmetic packaging machinery market is decently concentrated with the presence of some prominent players. This makes a highly intense competitive scenario in the market. Moreover, the influx of various new entrants in the market also intensifies the landscape of the global market.
Eye Cosmetic Packaging Market – Increasing number of women workforce is a positive factor for the growth of the eye cosmetic packaging market. Working women demand products that are easy to use on-the-go, and packaging companies are incorporating this sentiment in their offerings.
Personal Care Packaging Market – Rapid economic growth coupled with rise in the disposable of people in developing countries, such as Brazil, India, and China. Changing lifestyle pattern of people in certain parts of the world is likely to come up as another factor of growth for the global personal care packaging market.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research