cosmetic packaging market size Developments and Business Outlook 2022–2030

 Market Scope

The beauty packaging market trend is projected to attain a share of more than USD 35.6 billion by 2023, as per the analysis of MRFR. It is expected to expand at a CAGR of 5.2% over the forecast period.

The rise in expendable income levels of customers and access to online shopping sites are expected to spur demand in cosmetic packaging. Rise in consumer confidence indices and the need for domestic solutions are factors favoring the market. Investments in right decoration and tubing technology that adhere to environmental laws can spur market growth. The availability of various tube formats and packaging designs will entice customers and drive consumer spending.

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The COVID-19 pandemic has brought the production of cosmetics to a standstill. The proliferation of the virus has led to concerns of products and brought to the forefront of the safety of cosmetics and their packaging. Investments in packaging techniques that adhere to social distancing norms and lower risks of contamination are in high demand in the market. Agreements with regional suppliers and eCommerce players to ensure no disruptions in the supply chain are likely to sustain demand in the global cosmetic packaging market.

Segmentation

The global cosmetic packaging market is segmented on the basis of material (plastics, metal, paper, glass, and others), product (pouches, sticks, bottles & jars, tubes, containers, rollerballs, dispensers, and others), applications (skincare, hair care, and others).

The different cosmetic packaging materials available in the market are plastic, glass, metal, and paper. The plastic segment is expected to gain a major market share due to its convenient and hygienic qualities. Plastic is mainly popular due to its low cost, lightweight, cost-effective nature, and versatility. However, fluctuating raw material prices can hinder its growth in the market. Nowadays, brand owners are looking to reduce and replace plastic with biopolymers to reduce carbon footprint. Paper and wood material segments might gain momentum due to increasing focus on environmental issues.

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Regional Analysis

Geographically, the regions analyzed in the global cosmetic packaging market include North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

North America is expected to capture a large market share owing to large number of consumers in the U.S. and the huge disposable income levels. The local demand and export of various cosmetics can drive the regional market demand. The evolution of cosmetic product packages and formulas can favor the market exponentially.

The APAC cosmetic packaging market is expected to grow at a high pace during the forecast period. Demand from India, China, and Indonesia lead the cosmetic packaging market, owing to factors such as rising consumer preference for eco-friendly products and increasing demand for small packaging sizes. Moreover, rising consciousness about anti-aging products, the e-commerce sector, emphasis on skin care by both genders, and demand for high-end luxury products in these regions are further pushing the market growth.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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