The global cosmetic packaging market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.03%
NEW YORK, March 13, 2020 /PRNewswire/ --
Increase in the demand for premium, innovative, and unique packaging products is projected to drive the overall growth of the cosmetic packaging market across the globe from 2020 to 2025.
Read the full report: https://www.reportlinker.com/p05874888/?utm_source=PRN
The global cosmetic packaging market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.03%. The global cosmetic packaging industry has witnessed high growth primarily because of the increasing demand for cosmetic products worldwide. Demand for innovative, premium, and unique packaging designs/ products is another key factor contributing towards the increasing growth of the cosmetic packaging market over the next few years.
In terms of both value and volume, folding cartons is projected to grow at the highest CAGR during the forecast period.
Folding cartons segment of the cosmetic packaging market is projected to grow at the highest CAGR during the forecast period, in terms of value as well as volume.The growth of this segment is attributed to its increasing demand by various cosmetic brands.
Further, it acts as an innovative packaging solution for the cosmetic brands as these offer more flexibility for printing, which further provides an impactful visual impact, and boost the attractiveness of the product.
In terms of both value and volume, paper-based is projected to be the fastest-growing segment in the cosmetic packaging market from 2020 to 2025.
Growth of the paper-based segment in the cosmetic packaging industry is primarily attributed to various factors, such as the boost in demand for sustainable, or green packaging.Paper acts as a secondary packaging material and has a wide range of applications in the market.
An increase in the demand for eco-friendly packaging is one of the important factors for the growth of this segment.
The skin care segment is projected to lead the cosmetic packaging market from 2020 to 2025.
The skin care segment is projected to be the largest segment in the cosmetic packaging market.Skin care refers to the range of products which supports skin integrity, relieve skin conditions, and enhance its appearance Increase in awareness about natural cosmetics/products (which have no harmful effects on the skin and are beneficial for the skin), is expected to drive the growth in the market demand for skin care segment during the projected years.
Furthermore, the development of various new products for skin care (such as anti-wrinkle creams and anti-aging creams) is expected to boost the market demand for the segment during the forecast period.
In terms of both value and volume, the Asia Pacific cosmetic packaging market is projected to contribute to the maximum market share during the forecast period.
In terms of value, the Asia Pacific region is projected to lead the global market from 2020 to 2025 due to the strong demand from countries such as China, Australia, India, and Japan.Factors such as a change in the packaging style, innovations in packaging designs, and a boost in the demand for cosmetics due to an increase in the youth population are expected to drive the market for cosmetic packaging in this region.
Companies rely on extensive advertisement activities for the sales of their cosmetic products. However, uniqueness and innovation in packaging is the key element to attract the consumers; thus impact the overall growth of the cosmetic packaging market in the coming years.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cosmetic packaging market.
•?By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
•?By Designation: Managers: 54.9%, CXOs: 15.5%, and Executives: 29.7%
•?By Region: North America: 18%, Europe: 14%, Asia Pacific: 42%, Middle East & Africa: 22%, and
South America: 4%
The global cosmetic packaging market comprises major manufacturers, such as Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Albea SA (France), and DS Smith PLC (UK).
Research Coverage
The market study covers the cosmetic packaging market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on type, material, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the cosmetic packaging market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall cosmetic packaging market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05874888/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article