Global Cosmetic Packaging Market Size to Reach USD 79.36 Billion in 2032 | Emergen Research

Vancouver, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The 2022 valuation of the worldwide cosmetic packaging market reached USD 53.45 Billion. Anticipated is a consistent compound annual growth rate (CAGR) of 4.03% in revenue throughout the projected period. This assessment stems from recent analysis conducted by Emergen Research. The propulsion of market revenue growth is significantly influenced by the swift expansion observed in the beauty and personal care domains. A pivotal driver lies in the rising demand for inventive and practical packaging resolutions, aligned with evolving consumer inclinations and aspirations in the realm of cosmetics, skincare, haircare, and akin personal care products.

The ascending adoption of sustainable packaging within the cosmetic industry stands as a pivotal contributor to the market's revenue upswing. The pursuit of eco-consciousness has led to a surge in demand for packaging materials and concepts that embrace sustainability principles, encompassing attributes such as environmental friendliness, recyclability, and biodegradability. This sustainable packaging movement is notably embraced by enterprises seeking to not only align with responsible practices but also capitalize on the growing consumer preference for environmentally considerate options. The imperative to mitigate the adverse ecological repercussions stemming from packaging waste, bolster brand standing, and fulfill the escalating consumer appetite for sustainability collectively exert additional impetus on the market's revenue trajectory across the forecast duration.

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The pivotal emphasis placed by cosmetic packaging on brand representation and visual allure could pose as a constraining factor impacting market revenue expansion. Cosmetic enterprises often allocate significant resources towards crafting packaging designs that not only resonate aesthetically but also harmonize seamlessly with their brand essence. However, the overall visual impact and creative latitude of packaging may encounter impediments due to stringent regulatory mandates and safety protocols. These directives can potentially curtail the latitude for design innovation and material assortment, thereby placing limitations on the packaging's aesthetic finesse.

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Scope of Research

Major Companies and Competitive Landscape

The global cosmetic packaging market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective packaging. Some of the major companies included in the cosmetic packaging market report are:

• Tesla, Inc.
• Amcor Limited
• AptarGroup, Inc.
• Berry Global Group, Inc.
• Gerresheimer AG
• HCP Packaging
• RPC Group Plc
• Albéa Group
• Quadpack Industries
• Silgan Holdings Inc.

Strategic Development

• On 24 April, 2023, Sephora launched a system for collecting used cosmetics in the U.S. and Canada. Customers will be able to drop off all of their Sephora-branded items at Sephora retail locations due to the new initiative.
• On 3 April, 2023, Greif, Inc., a leader in industrial packaging products and services, announced today that it has increased its ownership in Centurion Container LLC (Centurion), a pioneer in North American Intermediate Bulk Container (IBC) and plastic drum reconditioning, from 9% to 80%. The all-cash transaction, which was funded through Greif's current credit facility, cost USD145 million. Since the joint venture's inception in 2020, Centurion's skilled management team has scaled a wide reconditioning network with great success.

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Some Key Highlights from the Report

• The bottles segment is expected to account for largest revenue share in the global cosmetic packaging market over the forecast period. this is because bottles are a beneficial packaging option for cosmetic goods due to their adaptability and practicality. Bottles can be customized based on the needs of the product and preferences of consumer because these come in various shapes, sizes, and materials. In addition, bottles offer a practical packaging option that makes it simple to dispense medication, monitor dosage, and protect products. Consumer perception and purchasing decisions are greatly influenced by the aesthetic appeal of bottles. Cosmetic companies use cutting-edge bottle shapes, hues, and finishes to provide eye-catching packaging that draws customers and strengthens brand identification. The skin care segment is expected to register steadily fast revenue growth rate in the global cosmetic packaging market over the forecast period due to increasing focus on product safety and Active compounds found in skin care products frequently need protective packaging to preserve their efficacy and avoid contamination. Airless pumps, droppers, or tubes with sealed lids are just a few packaging options that preserve product integrity and lengthen shelf life. In addition, rising emphasis on usability and convenience is another factor driving revenue growth of this segment. Customers look for packaging that makes it simple to handle, apply, and dispense the product. Pump bottles, jars with spatulas, and squeeze tubes are examples of packaging formats that make it simple and hygienic to utilize products, improving the user experience overall.
• The North America market is expected to account for largest revenue share in the global cosmetic packaging market during the forecast period. This is due to rising demand for creative and high-quality packaging solutions in North America. Numerous well-known cosmetic companies and a wide variety of goods are produced in the area.  Customers are looking for items that correspond with their sustainability ideals as they become more aware about environmental impact of packaging waste. Regional cosmetics companies respond to this demand by using recyclable materials and less plastic and implementing sustainable packaging techniques.
• On 1 February, 2023, TriMas announced to acquire Aarts Packaging B.V., an established manufacturer of luxury packaging solutions for customers in the food and life sciences end sectors as well as well-known beauty and lifestyle brands. Aarts Packaging will now join the TriMas Packaging group of outstanding companies, which also includes Rieke, Affaba & FerrariTM, Rapak, TaplastTM, Intertech, and Omega Plastics.

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Emergen Research has segmented the global cosmetic packaging market  on the basis of products, application, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

• • Bottles
  • Tubes
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Skin care
  • Hair care
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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