The Global Cosmetic Packaging Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Cosmetic Packaging market is segmented by Material type (Plastic Packaging, Paper Packaging, Others); Cosmetic type (Skin Care, Make-up, Hair Care and Nail Care); Geography (North America, Europe, APAC and ROW).
Introduction
The cosmetic industry has the most varied packaging requirements of all the other sectors. The materials used vary from different metals from glass, paper, and Plastics, and these materials are used to make containers with different shapes and sizes and dispensing mechanism.
Changing style of packaging, innovative package designs, and increasing demand for cosmetics due to the growing youth population are anticipated to drive the market in the forecast period.
However, the restrictions imposed by the government on the utilization of certain ingredients, and the emergence of medical assistance in beauty treatment are factors expected to hamper the growth of the market.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The global cosmetic packaging market is expected to grow to $61.50 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 4.06% CAGR.
Factors such as high demand from cosmetic brands for innovative, attractive & sustainable packaging across the globe are driving the market demand.
APAC is a prominent regional market which is attributed to the growing population, urbanization & disposable income of the population
Key Trends
Increase in demand for the use of sustainable & environmentally-friendly packaging is expected to be fuel the demand.
Antibacterial packaging materials to boost production of cosmetic packaging is expected to drive the market demand in future
Development of new & innovative packaging material is propelling the market
Key Market Players
Some of the key players in the market are Amcor, Berry Global, Sonoco, Huhtamaki, Albea, HCP Packaging.
The key players are dominating the market by adopting modern and new technologies to customize the product, enhance its properties, and differentiate the final product from its competitors.
Companies are also adopting collaborative business strategy owing to key factors such as, to increase their productivity, to provide highly regarded products to consumers, and to expand their regional presences.
Growth Drivers and Challenges
Rising penetration of cosmetics in the developing economies is driving the market growth.
Role of cosmetic packaging in the marketing of cosmetic products is one of the drivers of the market
Need for innovative, customized, and premium packaging from the cosmetic industry is also significantly catalyzing the market growth.
Government regulations or restrictions regarding the application of a few ingredients or raw materials in cosmetic packaging is significantly hindering the market growth.
Fluctuating raw material prices is challenging the growth of cosmetic packaging