Eye Cosmetic Packaging Global Market To Rise To $14.76 Billion In 2024 With A CAGR Of 6.7%

Date

12/9/2024 3:45:54 AM

(MENAFN- EIN Presswire)

Eye Cosmetic Packaging Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The eye cosmetic packaging market size is expected to see strong growth in the next few years. It will grow to $19.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%” - The Business Research Company

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Where Does the Eye Cosmetic Packaging Market Stand And How Is It Forecasted To Grow?

The eye cosmetic packaging market displays significant strength in its growth over recent years. The market size is set to increase from $13.83 billion in 2023 to $14.76 billion in 2024, indicating a compound annual growth rate CAGR of 6.7%. This growth during the historical period can be attributed to increases in consumer awareness of personal grooming. This awareness has continuously spurred demand for eye cosmetics, resulting in an influx of packaging innovations. Factors such as Hollywood and pop culture influences have also contributed to this, necessitating diverse and attractive packaging solutions. In addition, advancements in packaging technology have facilitated the creation of more functional and aesthetically pleasing designs.

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What Is the Projected Expansion for the Eye Cosmetic Packaging Market?

In the near future, the eye cosmetic packaging market is predicted to exhibit robust growth. The market is projected to swell to $19.23 billion in 2028, propelled by a compound annual growth rate CAGR of 6.8%. The growth foreseen during this period can be linked to ongoing digitalization and the rising prevalence of social media platforms, which will continue to drive the popularity of eye cosmetics. This creates a need for packaging that distinguishes itself in a digital space. Additionally, a growing emphasis on inclusivity and diversity is expected to push brands towards developing packaging that appeals to a broader consumer base. Advances in smart packaging technologies will also provide new functionalities and enhance user experiences.

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What is Fueling The Growth Of The Eye Cosmetic Packaging Market?

The increasing consumption of cosmetic products is expected to propel the growth of the eye cosmetic packaging market. Cosmetic products applied to the body or face for cleansing, beautifying, promoting attractiveness or altering appearance without affecting bodily structure or functions are becoming more popular. The consumption surge is likely due to growing consumer self-care awareness and focus on personal appearance, driven by social media influence and a heightened focus on beauty and grooming. Eye cosmetic packaging plays a critical role in enhancing product appeal and delivering a valuable user experience by offering functional designs that ensure easy application and precise dosage. It also safeguards the product's integrity, extending its shelf life and retaining its efficacy. For instance, Loreal, a France-based cosmetics company, reported in December 2022 that their active cosmetics sales amounted to a massive 5124.5 billion euros $5,549.1 billion, up by +30.6%, indicating the driving role that the consumption of cosmetic products plays in the eye cosmetic packaging market.

Which Key Players Are Pioneers in the Eye Cosmetic Packaging Market?

Several top ranking companies are making their mark within the eye cosmetic packaging market, including Berry Global Inc., Albea S.A., AptarGroup Inc., Gerresheimer AG, HCP Packaging USA Inc., Geka GmbH, Quadpack Industries S.A., The Libo Cosmetics Co. Ltd., Alpha Packaging Inc., H&K Müller GmbH & Co. KG, Plásticos FACA S.A., 3C Inc., Laboratorio Edol S.A., APC Packaging LLC, Cosmogen, The Packaging Company TPC, CORPACK GmbH, Epopack Co. Ltd., Cosmopak Inc., Baralan International, and Toly Group.

What Emerging Trends Are Shaping the Eye Cosmetic Packaging Market?

In an emerging trend, major companies are focusing on developing innovative products such as mascara tubes to enhance user experiences and meet consumer demands. Mascara tubes are specialized containers storing mascara and equipped with an applicator that makes the eyelash application process convenient. For instance, in October 2023, Cherng Mei Enterprise Co. Ltd., a Taiwan-based cosmetic packaging company, launched flexible tubes for mascara. These tubes, available in opaque and transparent finishes, allow easy monitoring of product levels to minimize waste. They come in two styles, M409-1 and M409-2, each holding 5 ml and specifically designed for portability. The packaging can also be tailored for eyeliners and lip glosses by pairing it with a thin brush or doe foot applicators.

How Is The Eye Cosmetic Packaging Market Segmented?

1 By Product: Bottles, Jars, Tubes, Boxes, Other Products
2 By Material: Plastic, Glass, Paper And Paperboard, Metal
3 By Distribution Channel: Online, Offline
4 By Application: Eye Shadow, Eyeliner, Mascara, False Eye Lashes, Eyebrows, Concealer And Primer

What Is The Regional Distribution of the Eye Cosmetic Packaging Market?

In 2023, North America dominated the eye cosmetic packaging market, while Asia-Pacific is anticipated to see the fastest growth in the upcoming forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.