Westford, USA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global cosmetic packaging market will attain a value of USD 68.74 billion by 2031, with a CAGR of 3.6% over the forecast period (2024-2031). Rapidly increasing demand for cosmetics and personal care products around the world is slated to drive the demand for cosmetic packaging over the coming years. Rising disposable income of people and advancements in packaging technologies are expected to drive the cosmetic packaging market growth.
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Browse in-depth TOC on "Cosmetic Packaging Market" Pages – 197, Tables – 95, Figures – 76
Cosmetic Packaging Market Report Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 51.8 billion |
| Estimated Value by 2031 | $ 68.74 billion |
| Growth Rate | Poised to grow at a CAGR of 3.6% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Cosmetic Type, Material Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information/product portfolio of players |
| Key Market Opportunities | Development of sustainable and anti-counterfeit packaging |
| Key Market Drivers | Rising aesthetic awareness among people around the world |
Plastic is Projected to Account for Substantial Market Share
Just like any other packaging product, cosmetic packaging is also mostly made from plastic owing to its proven efficacy in the world of packaging. Easy availability and the potential to brand plastic packaging as per cosmetic brand standards are also expected to help the dominance of this segment over the coming years. However, bans on the use of plastic in packaging could reduce the market share of this segment in the long run.
Use of Cosmetic Packaging for Makeup Products is Estimated to Surge at an Impressive Pace in the Future
Rising number of working females and increasing interest in makeup across the world are projected to help promote sales of makeup products and make this a highly opportune segment. The growing need to look perfect and increasing availability of multiple makeup products from renowned brands are also expected to help create high demand for cosmetic packaging in this segment over the coming years.
Asia Pacific Region is Estimated to Spearhead Demand for Cosmetic Packaging Trends
Asia Pacific is undergoing rapid urbanization, and the influence of the West is also increasing in this region. The factor coupled with evolving consumer preferences and changing beauty standards are estimated to promote the sales of cosmetics thereby driving market growth as well. Increasing disposable income of people in countries such as India and China will also create lucrative opportunities for cosmetic packaging providers going forward.
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Cosmetic Packaging Market Insights:
Drivers
- Rising disposable income of people promoting sales of cosmetics
- Increasing aesthetic awareness around the world owing to rising social media influence
- Rapidly expanding cosmetics and personal care industry
Restraints
- Bans on the use of plastic materials for cosmetic packaging
- Stringent regulatory mandates for cosmetic packaging
Prominent Players in Cosmetic Packaging Market
- Amcor (Switzerland)
- Gerresheimer AG
- AptarGroup, Inc.
- Albea S.A.
- HCP Packaging
- RPC Group plc
- Silgan Holdings Inc.
- Quadpack Industries
- Libo Cosmetics Company Ltd.
- Fusion Packaging
Key Questions Answered in Cosmetic Packaging Market Report
- What drives the global market growth?
- Who are the leading Cosmetic Packaging providers in the world?
- Which region leads the demand for Cosmetic Packaging in the world?
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This report provides the following insights:
- Analysis of key drivers (growing disposable income of people promoting sales of cosmetics, rising aesthetic awareness among people, expansion of the personal care and cosmetics industry), restraints (bans on use of plastic in packaging, strict regulatory requirements for cosmetic packaging), and opportunities (development of sustainable cosmetic packaging solutions, demand for anti-counterfeit packaging) influencing the growth of Cosmetic Packaging market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Cosmetic Packaging market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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