New York , Feb. 12, 2024 (GLOBE NEWSWIRE) -- The global cosmetic packaging market size is poised to grow at a CAGR of over 6% from 2023 to 2033. The market is anticipated to garner a revenue of USD 60 billion by the end of 2033, up from a revenue of USD 49 billion in the year 2022. This growth is largely driven by the increasing demand for cosmetic products, which has led to the need for better packaging solutions.
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The cosmetics industry worldwide has a valuation of, around $570 billion. In the United States cosmetics sales generate approximately $48 billion annually. The growing cosmetic industry has resulted in an increase in the demand for better packaging solutions, as cosmetic products require more durable packaging to withstand the heat and humidity in warehouses and stores.
Cosmetic Packaging Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- Skin Care segment to garner the highest growth
- Market in North America to grow at a significant rate
Advancements in Packaging Technology to Boost Market Growth
Airless packaging is an innovative solution that helps preserve the quality and effectiveness of cosmetic products. It prevents air from entering the packaging, reducing the risk of contamination and oxidation. This technology is particularly beneficial for products that are sensitive to air and light exposure. For instance, Samhwa’s latest innovation is the Airtight Stick, which was designed to reduce evaporative weight loss with hydro-based serum formulas like sunscreens and other skincare products that can be as high as 30-40%.
Moreover, the demand for sustainable packaging materials is increasing in the cosmetic industry. Manufacturers are exploring eco-friendly alternatives such as biodegradable plastics, recycled materials, and plant-based packaging. These materials help reduce the environmental impact of cosmetic packaging and meet the growing consumer demand for sustainable products.
Cosmetic Packaging Industry: Regional Overview
The global cosmetic packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Disposable Income and Changing Lifestyles to Drive the Growth in The Asia Pacific Region
The cosmetic packaging market in Asia Pacific region is estimated to garner the largest revenue by the end of 2033 driven by the rising disposable income and changing lifestyles of consumers in region are driving the demand for cosmetic products. In the year 2024 it is predicted that the average household disposable income per person, in India will reach US$27. Meanwhile during the three quarters of 2023 China recorded a per capita disposable income of $4,090. Consumers are willing to spend more on high-quality cosmetic products and are looking for packaging that enhances the overall product experience. This demand for higher quality cosmetic products will lead to an increase in the demand for packaging that is able to withstand extreme temperatures and moisture, as well as packaging that is visually appealing and reflects the brand image.
Increasing Demand for Sustainable Packaging to Drive the Growth in the North America Region
The North America cosmetic packaging market is estimated to garner the largest revenue by the end of 2033 driven by the increasing demand for sustainable packaging. Consumers in region are becoming more conscious about the environmental impact of packaging materials and are actively seeking products with sustainable packaging options. Further, sustainability has become increasingly important in recent years, and manufacturers are looking for ways to reduce environmental impact while still providing high-quality products. For instance, the Herbivore brand was founded on the concept of creating eco-plant-based skincare products that are packaged sustainably. They prioritize using materials, such, as GMO free soy wax and recyclable plastic while even their printing inks are environmentally friendly. Similarly, the lush brand utilizes aluminum tins made from 40% recycled materials, and has adopted a recycling strategy that involves 100% recyclable plastic containers.
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Cosmetic Packaging Segmentation by Application
- Hair Care
- Skin Care
- Nail Care
The skin care segment is anticipated to hold the largest revenue by the end of 2033. The increasing demand for skin care products due to increased awareness about their appearance and health benefits is anticipated to drive the growth of the segment. According to the survey three out of four respondents (75%) follow both a morning and evening skincare regimen. The popular skincare products are moisturizers (95%) cleansers (87%) and sunscreens (86%). It is anticipated that skincare will maintain its position generating approximately 180 billion U.S. Dollars in revenue by 2028. Moreover, the increasing popularity of natural and organic skin care products is also projected to drive the growth of the segment.
Cosmetic Packaging Segmentation by Material
- Plastic
- Paper
- Glass
- Metal
The plastic segment in cosmetic packaging market is anticipated to hold the largest revenue by the end of 2033. Plastic is lightweight, durable, and cost-effective, making it the ideal material for cosmetic packaging. It is also resistant to moisture, making it suitable for storing and preserving cosmetic products. A lot of cosmetic products are packaged in plastic, such as moisturizers, sunscreens, and lipsticks. For instance, in February 2020 Aptar introduced the first ever beauty packaging made from certified recycled plastic. This packaging has received certification, from the International Sustainability and Carbon Certification (ISCC). Is being utilized in the relaunch of REN Clean Skincares highly popular moisturizer, EVERCALM™ Global Protection Day Cream.
Cosmetic Packaging Segmentation by Product
- Bottles & Jars
- Tubes
- Containers
- Pouches
- Sticks
- Roller balls
- Dispensers
A few of the well-known market leaders in the global cosmetic packaging market that are profiled by Research Nester are Libo Cosmetics, Amcor Limited, Berry Global Inc., Sonoco Products Company, Albea Services S.A.S., HCP Packaging UK Ltd, AptarGroup, Inc., Huhtamaki Oyj, ABC Packaging, Machine Corporation, and Bemis Manufacturing Company., and other key market players.
Recent Development in the Market
- Berry Global Inc. has joined forces with Koa to launch body cleanser and body moisturizer bottles made entirely from 100% recycled plastic. Both companies are committed to making an environmental contribution, by optimizing their operations and reducing waste.
- Sonoco Products Company recently announced that their Enviroflex PE packages have received the How2Recycle Store Drop off label.
Read our insightful Blogs and Data-driven Case Studies:
- Road to Sustainable Packaging: Smart Bottles and Edible Boxes
Explore the latest trends in sustainable packaging, with a focus on smart bottles and edible boxes. From reducing waste to enhancing the user experience, these packaging options are set to revolutionize the industry. Take a closer look at the road to sustainable packaging and the future of eco-friendly design.
- How A Consumer-Packaged Goods Company Faced Supply-Chain Issues and Mitigated the Crisis?
This case study explores the challenges faced by a consumer-packaged goods company when their supply chain was disrupted due to unforeseen circumstances. Learn how this company overcame supply-chain issues and emerged stronger than ever before.
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