The market is expected to generate an incremental $ opportunity of US$ 13,000.0 Mn between 2022 and 2030
Category: Packaging Published Date : October 2022 ID: CVC-00214 Format: PDF Pages: 290
Cosmetic Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Cosmetic Packaging Market was worth US$ 32,500.0 Mn and is expected to grow at a CAGR of 4.3% over the forecast period. The market is expected to hit US$ 45,600.0 Mn by 2030 end.
The rapid global growth and spread of cosmetic products might be blamed for the interest in cosmetic packaging. The interest in cosmetic packaging is stoked by elements, including the worldwide appeal of cosmetic brands for creative, attractive, and sustainable packaging.
INNOVATIONS IN TECHNOLOGY IS DRIVING THE MARKET
Sales of cosmetic packaging worldwide are being driven by package printing technology. Hot stamp foil printing and flexography, two cutting-edge and popular printing techniques are assisting cosmetic producers in providing unique and attractive packaging for their products. Numerous design trends for cosmetic packaging are now possible thanks to new material and printing technology developments.
The rise of commercial settings is driving the global market for cosmetic packaging. The expansion of the worldwide cosmetic packaging market is anticipated to be fueled by factors such as changing consumer lifestyles, products offered by the beauty and wellness sector, and rising middle-class populations in Asia Pacific nations. Additionally, compared to homes, business enterprises utilize color cosmetics more frequently.
The new coronavirus has swiftly spread over several nations and regions, profoundly affecting individual lives and the community. It started as a human health issue and is now dangerous to international trade, the economy, and the financial system. Due to the lockdown caused by the COVID-19 epidemic, numerous packaging parts for cosmetics are no longer produced. At first, people worldwide cut back on their purchases of cosmetic items as a result of the economic recession. The market for cosmetics has grown significantly as a result of the decline in the number of cases and the return to normalcy of the economy.
By Region and Country:
Which type segment of Cosmetic Packaging is projected to have the largest market during the forecast period?
According to projections, the bottle cosmetic packaging market will be the largest. Its durability can be attributed to the bottles’ dominant market position. Most people choose plastic jugs and bottles since they are lightweight (so they are easy to carry) and not readily breakable. Additionally, glass bottles’ attractive and luxurious appearance contributes to the rapidly growing demand for perfumes and smells.
Why is the market for paper-based materials expected to expand the fastest during the forecast period?
The market for cosmetic packaging is anticipated to have the fastest growth in the paper-based sector. It is a highly sought-after material for cosmetics packaging due to factors including recyclability, maintainability, and eco-friendly components in the construction of packaging products.
Which application segment is expected to be dominated during the forecast period?
The market for cosmetic packaging is anticipated to be dominated by the skin care sector. This commanding market position results from the enormous increase in demand for personal care and grooming products worldwide.
The change in lifestyle and purchasing habits has increased interest in health, grooming, and personal care products (especially among young people and males), which has created a market opportunity for the skin care industry.
Which region is expected to expand the fastest during the forecast period?
With a 44.0% market share in 2021, Asia Pacific was the largest region and is expected to have rapid CAGR growth in the next years. Japan provides the bulk of shares in the Asia Pacific and is anticipated to grow at a CAGR of 5.5% over the projected period.
The market in the area has been pushed by the introduction of various product variations and growing consumer acceptance due to increased awareness of multiple advantages, such as anti-tanning solutions.
One of the important components to gaining a competitive advantage in the sector is innovation in packaging techniques. Manufacturers have created environmentally friendly packaging options and are doing the same while using recycled plastics.
Some of the key developments that have taken place in the Cosmetic Packaging Market include:
A list of some of the key suppliers present in the market are:
Global Cosmetic Packaging Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|