The cosmetic packaging market is worth $ 43.59 billion globally by 2028 at a 5% CAGR

NEW YORK, April 1, 2022 / PRNewswire / –The Insight Partners released the latest research study on “Cosmetic Packaging Market Forecast until 2028 – Impact of COVID-19 and global analysis by type (tubes, bottles, jars, pumps and dispensers and others), material (glass, plastic, paper, metal and others) and application (skin care, skin care hair, Oral Care and others) “, the global cosmetic packaging market has been evaluated at $ 31.06 billion in 2021 and is expected to reach $ 43.59 billion by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.

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Report coverage

Details

Market size Value in

$ 31.06 billion in 2021

Market size value of

43.59 billion dollars by 2028

Rate of growth

CAGR of 5.0% from 2021 to 2028.

Forecast period

2021-2028

Reference year

2021

No. of pages

198

No. Tables

83

No. of graphs and figures

82

Historical data available

Yes

Segments covered

Type, material and application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Turnover forecasts, company rankings, competitive landscape, growth factors and trends

Cosmetic Packaging Market: Competitive Landscape and Key Developments

ALBEA; APC PACKAGING; Aptar Group, Inc .; Berry Global Inc .; Gerresheimer AG; Beauty of the WWW; Silgan plastic .; Huhtamaki; LIBO cosmetics; and HCP Packaging are among the main players operating in the global cosmetic packaging market.

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The cosmetic packaging market is growing due to the growing demand from the cosmetic industry. The growing number of makeup studios, beauty clinics and salons around the world due to the growing trend of makeup application among women is driving the growth of the market. Furthermore, the growing Internet penetration and the growing number of smartphone users are positively influencing the e-commerce sector, thus driving online sales of beauty and personal care products. In recent years, social media has played an important role in influencing people’s lifestyles. Therefore, the growing e-commerce industry and the growing number of social media influencers are driving the growth of the market. Additionally, beauty and personal care is a highly fragmented market with many players such as Avon Products, Inc .; Estée Lauder Companies Inc .; and L’Oréal SA In addition, manufacturing companies have adopted innovative strategies such as launching new products with natural ingredients and eye-catching packaging to increase the sales of their cosmetic products. Therefore, various initiatives undertaken by the beauty and personal care manufacturers of the region drive the demand for cosmetic products. Therefore, the growth of the cosmetics industry is driving the growth of the cosmetics packaging market.

In 2020, Asia Pacific accounted for the largest share of the global cosmetic packaging market. The rapidly changing online retail scenario and a growing number of multi-brand and exclusive retailers, beauty clinics and makeup studios in the region are contributing to the growth of the market. The cosmetics market a China accounted for 6.43 billion dollars in 2020, due to the emerging e-commerce sector and the growing influence of social media on people’s lifestyles. Furthermore, the presence of multinational companies, such as Kosé Corporation, offering a diversified range of cosmetic products through different brands, is driving the growth of the market. In addition, other major cosmetics manufacturers have profitable growth opportunities to expand their business in this region due to the growing demand for personal care products; flexible government policies; and availability of potential customers, low-cost labor and manufacturing facilities. Therefore, the growth of the cosmetics industry in the region strengthens the growth of the cosmetic packaging market.

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Increasing demand for flexible packaging to stimulate market growth during the forecast period:

The flexible packaging has an airtight seal with high quality barrier films and adhesives to ensure the integrity of the product, making it ideal for skincare packaging and improving the shelf life of cosmetic products. The packaging also helps cosmetic brands to target rural areas and underdeveloped markets where consumers use products in small quantities, such as in tubes or plastic bags. It has higher fill volumes than rigid containers, allowing for greater quantity allocation in a smaller space and giving consumers in rural areas the ability to use every drop. Therefore, the increasing use of flexible packaging in the cosmetic industry fuels the growth of the market.

Cosmetic Packaging Market: Segment Overview

By type, the cosmetic packaging market is segmented into tubes, bottles, jars, pumps and dispensers and others. In 2020, the bottle segment accounted for the largest share of revenue in the market. Based on the material, the market is segmented into glass, plastic, paper, metal and others. In 2020, the paper segment accounted for the largest market share. By application, the global cosmetic packaging market is segmented into skin care, hair care, oral care, and others. In 2020, the skin care segment accounted for the largest share of revenue.

Impact of the COVID-19 pandemic on the cosmetic packaging market:

During the COVID-19 pandemic, the chemicals and materials industry faced unprecedented challenges due to shortage of raw materials supply, factory closures, labor shortages and other operational difficulties in the area. pandemic security protocols. The closure of production units, the difficulty in procuring raw materials and the restrictions on logistics have had a negative impact on the global cosmetic packaging market. The outbreak had distorted operational efficiency and disrupted value chains due to the sudden closure of national and international borders, creating losses and damage to revenue.

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The COVID-19 pandemic had a negative impact on the cosmetics industry, and according to McKinsey & Company’s The State of Fashion report, cosmetics retail revenues fell by 32% in the early stages of the pandemic. According to estimates by L’oreal, the cosmetics industry experienced a growth rate of -8% in 2020 due to the negative impact of the COVID-19 pandemic. However, due to the growing demand for skin care products in the cosmetic industry, the cosmetic packaging market is expected to grow steadily during the forecast period.

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