(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 14, 2021, 08:15 /Comserve / -- Cosmetic Packaging Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The cosmetic packaging market was valued at USD 26.29 billion in 2019, and it is expected to reach USD 32.86 billion by 2025, registering a CAGR of 3.7% during the period of 2020-2025. Glass is one of the oldest packaging materials, where eco-friendly/recyclable packaging is one of the top ongoing trends in glass packaging. Most glass packaging products are 100% recyclable and can be recycled endlessly without loss in quality and purity, and it has been reported that 80% of the glass that is recovered is made into new glass products.
- The increasing consumption of cosmetic products has been driving the market studied. Factors, such as the rising demand for cosmetic products in emerging countries, growing consumer awareness, changes in consumption patterns and lifestyles, increasing premium on personal grooming, and the increasing awareness of beauty products have been driving the investments of companies that develop innovative packaging solutions.
- Moreover, in recent years, the popularity of natural and organic cosmetics has grown substantially as a result of increased awareness of exposure to diseases, such as skin cancer, Alzheimers, allergies, and congenital disabilities, as synthetic beauty products are laden with chemicals. In the United States, the largest share (around 40%) of the natural and organic beauty products market has been accounted for by skincare products.
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Key Market Trends
Skincare to Account for Significant Share In The Market
- Skincare packaging uses a variety of glass and plastic cosmetic jars to suit various packaging needs. The need for packaging for skincare products has been on the rise.
- Various skin care brands worldwide have been facing increased competition, and the packaging suppliers have been offering brands ways to differentiate designs offering convenience, ease-of-use, and advanced capabilities. A wide range of options has been available for packaging skincare products, to accommodate different product formats and formulations. Nerd Skincare, for example, uses bottles, tubes, jars, and droppers in glass, plastic, and metal.
- Furthermore, technological encroachments, such as airless skincare packaging and 3-D printing technology, have been driving skincare packaging sales. Advanced and most trending printing technologies, such as hot-stamp foil printing and flexo-offset printing, have been enabling manufacturers to offer innovative and eye-catching skincare packaging for their cosmetic brands, which overall has been hosting the growth of the cosmetic packaging market.
- Moreover, the UK beauty industry contributed a total of EUR 28.4 billion in 2018, to the nation's economy. Acquisitions have been helping shape the market landscape. For instance, in January 2019, L'Occitane acquired UK-based luxury skincare brand, Elemis for USD 900 million. This may enable L'Occitane to strengthen its foothold in the premium skincare sector; hence, the market is expected to experience a strong demand for dermatology-based products packaging.
Asia-Pacific to Hold Significant Growth In Market
- The increasing adoption of advanced technologies for cosmetic packaging and growing trends of skincare and beauty products are some of the significant factors driving market growth.
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- The cosmetics market in China has been one of the fastest-growing sectors in the last few years, benefitting from an increasingly engaged consumer base. The sale of luxury products in the Chinese market demonstrated significant growth. The luxury products brands, such as La Mer, SK-II, and CPB, among others, which were once the sole purview of more financially mobile women in their thirties, now appear in the shopping carts of girls in their twenties.
- Moreover, Chinese men have shown a higher demand for skin care products and makeup over the last several years. According to a white paper by TMIC and L'Oréal China Consumer Intelligence Team, e-commerce sales of men's grooming products have risen by more than 50% during the past two years, symbolizing men have become an emerging consumer group in the Chinese beauty market, thereby, augmenting the consumer packaging market.
The cosmetic packaging market is highly competitive, and the market comprises several global and regional players. Innovation and ease in deployment and usage, which have bee leading to end-to-end customer satisfaction through the product, have been the key factors driving the product innovation and strategies among the market players. The key players are Silgan Holdings Inc. and DS Smith PLC, among others. The recent developments in the market studied are -
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Consumption of Cosmetic Products
4.3.2 Increasing Focus on Innovation and Attractive Packaging
4.4 Market Restraints
4.4.1 Growing Sustainability Concerns
4.5 Value Chain Analysis
4.6 Industry Attractiveness Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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