Wilmington, Delaware, United States, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global skincare packaging market is forecasted to reach a value of US$ 21.1 Bn by the end of 2027, finds a research report by Transparency Market Research (TMR). In addition, the study notes that the market for skincare packaging is expected to grow at a CAGR of 4.9% during the forecast period, from 2022 to 2027.
The adoption of premium packaging is being increasing for varied cosmetic products owing to their ability to fulfill customer requirements and improve the possibilities of products repurchase. Moreover, the use of premium packaging for skincare products is being increasing in several developing nations across the globe. These factors are driving the growth opportunities in the skincare packaging market, states researchers at TMR.
Major cosmetic packaging market leaders are strengthening their production capabilities in skincare jars and other products with luxury packaging owing to rise in the consumer inclination toward buying cosmetic products with unique and attractive packaging. This aside, major consumer pool is willing to buy esthetic products at higher prices. Such factors are projected to help in the rapid expansion of the global skincare packaging market during the forecast period.
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Skincare Packaging Market: Key Findings
- The adoption of skincare products with smaller pack sizes is being increasing in the recent years owing to their cost-effective nature. Moreover, such products are gaining impetus among consumer pool who are inclined toward having a collection of cosmetics. This aside, the people from middle- and lower-middle class prefer buying products in lesser quantities, but more frequently, notes a TMR analysis on the skincare packaging market. These factors are resulting into increase in the popularity of small-size packaging formats globally. Hence, top cosmetic packaging companies are strengthening their production capabilities in premium skincare products with mini travel size and smaller pack sizes formats. These factors are expected to drive the growth prospects in the market, notes the cosmetic market analysis report by TMR.
- The global skincare packaging market is expected to be influenced by the trend of shrinking packaging sizes. The changing lifestyles of consumer population in countries from Latin America, Africa, and Asia Pacific are likely to help in the market expansion in the near future. Moreover, the popularity of compact-sized and affordable cosmetic products is anticipated to increase among the intercontinentally migrated people.
- The adoption of medium and small-sized jars manufactured using PET plastics, stick packs, and sachets for personal care products is being increasing across price-sensitive nations. Such factors are anticipated to influence the growth trajectory of the global market for skincare packaging, note analysts at TMR.
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Skincare Packaging Market: Growth Boosters
- The rapid expansion of the cosmetic industry owing to improving spending power of people from developed and developing countries is fueling the growth prospects in the market
- Rise in the adoption of smaller pack sizes due to their convenience and cost-effectiveness is driving the growth opportunities for cosmetic packaging companies
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Skincare Packaging Market: Key Players
Some of the key players profiled in the report are:
- Amcor plc
- AptarGroup, Inc.
- Libo Cosmetics Company, Ltd.
- Gerresheimer AG
- HCP Packaging
- Quadpack LLC
- Plásticos FACA S.A.
- Fusion Packaging
- DS Smith Plc
- Smurfit Kappa Group plc
- Saverglass sas
- Swallowfield Plc
- Albea S.A.
- Essel Propack Ltd.
- Silgan Plastic Closures Solutions
- Coverpla S.A.
- Mold-Rite Plastics, LLC
- Weener Plastics Group BV
- Comar LLC
- Alpha Packaging, Inc.
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