Cosmetics Packaging Market is Forecast to Touch USD Billion by 2027, Growing at a CAGR During 2020 to 2027
According to BlueWeave Consulting, the cosmetics packaging market has reached USD Million in 2019 and is further projected to reach USD billion by 2027, growing at a CAGR during the forecast period. Cosmetic containers (primary packaging) and secondary packaging of fragrances and cosmetic products are known as Cosmetic packaging. The packaging of a cosmetic is a very significant factor and needs to be managed carefully. Because it ensures the protection, brand positioning, brand promoting, shelf positioning, and consumer functionality of a particular cosmetic item,
Impact of media on beauty image
In recent years there has been an immense amount of increment in cosmetic consumption. All of this is evident by the fact that every other person on this planet does use a form of cosmetic, be it in the form of shampoo or soap, etc. The populations present in both urban, as well as rural settings, have participated in this growth. Additionally, the increased interest of men or the male population towards skin and beauty care has also helped in propelling market growth.
Shifting focus on attractive and innovative packaging of a cosmetic product
This demand for practical and user-friendly dispensing solutions and products is prompting cosmetic companies to adopt innovative yet aesthetic packaging solutions such as the use of recyclable plastic and compostable and biodegradable plastics. Many companies are nowadays more focused on sensible and convenient packaging options rather than ones with aesthetic value.
Asia Pacific to dominate the market
As per the studies and analysis, the Asia Pacific region has registered the biggest share in 2019. The elevation in demand in this region is largely credited to the developing countries, having a growing urban population, resulting in maintained GDP, disposable income, etc. Apart from all of these, the region has places with less strict regulations regarding the standards for use of raw materials or ingredients procurement.
Major players for the Cosmetic Packaging are LIBO Cosmetics Company, ABC Packaging, Bemis Company Inc., Gerresheimer, Ltd.Albea GroupCosmopak U.S.A. Llc.World Wide Packaging Llc, Amcor Ltd, HCP Packaging.Silgan Holding Inc., Quadpack Group, Rexam Plc., Mondi Group.GEKA world, AptarGroup Inc. among others.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global Cosmetic Packaging market size & forecast. The report promises to provide recent technology trends of the global Cosmetic packaging market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.