September 16, 2022 15:00 ET | Source: Facts & Factors Facts & Factors
DUBLIN, Ireland, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Cosmetic Packaging Market By Type (Bottles, Tubes, Jars, Containers, Blister & Strip Packs, Aerosol Cans, Folding Cartons, Flexible Plastics, Others), By Material (Glass, Metal, Paper-based, Rigid Plastic, Flexible Packaging), By Application (Skin Care, Hair Care, Color Cosmetic, Sun Care, Oral Care, Fragrances & Perfumes), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Cosmetic Packaging Market size & share was valued at approximately USD 30.2 billion in 2021. The market is expected to grow above a CAGR of 3.90% and is anticipated to reach over USD 37.9 billion by 2028.”
The report analyses the Cosmetic Packaging market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Cosmetic Packaging market.
Cosmetic packaging is used to both protect and brand products. It protects the products from damage caused by handling and transit. By incorporating adjustable extensions to the container design, cosmetics packaging plays an essential role in reaching clients. Cosmetic and beauty product packaging is unique in terms of protection, customer functionality, and brand positioning. The development of new and diverse package types, as well as packaging innovation, has aided in the market's expansion.
Furthermore, because of increased disposable income, rising awareness of personal care, changing standards of living, and creative designs such as sprays and sticks, developing economies are giving huge development potential for cosmetic items.
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Key Insights from Primary Research
The report contains qualitative and quantitative research on the global Cosmetic Packaging Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Cosmetic Packaging market include:
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The increased number of new entrants into the cosmetic industry has resulted in increased product and packaging innovation in order to gain a competitive advantage. These are some of the key factors that are expected to drive the growth of the cosmetics packaging market during the forecast period. Growing e-commerce and internet penetration in both rural and urban areas have also had an impact on cosmetics demand in recent years. Companies have shifted their sales to online platforms as internet usage has increased.
As a result, demand for overall cosmetic products has increased, influencing the growth of the packaging industry. Due to the introduction of new packaging methods, the introduction of eco-friendly and sustainable packaging has had a significant impact on the overall growth of the industry. Innovation in the product lines of the companies is also critical to the market's growth.
Cosmetic Packaging Market: COVID-19 Impact Analysis
The effects of COVID-19 on the global cosmetics packaging industry were widespread. As a result of the pandemic, people began placing a higher value on cleanliness and other personal care products than they had before. As a corollary, consumers started investing in goods that featured organic, all-natural materials and were packaged in biodegradable materials. Manufacturing firms encountered issues like raw material shortages and hiccups in the supply chain. In addition, it was extremely challenging for industry leaders to recruit personnel during the lockdown. A return to normalcy in the cosmetics business has been aided by government efforts to encourage the use of environmentally friendly packaging materials for all cosmetics.
The whole research report analyses the quantitative and qualitative factors influencing the cosmetic packaging market. There has been analysis of the market from both the demand and supply perspectives. As part of its demand-side analysis, Oxford University looks at regional market revenue and then compares it to that of all the main countries. The leading competitors in the industry, as well as their regional and global presence, are investigated as part of the supply-side study. It examines each significant nation in the Americas, Europe, Asia–Pacific, the Middle East–Africa, and Latin America.
Browse the full “Cosmetic Packaging Market By Type (Bottles, Tubes, Jars, Containers, Blister & Strip Packs, Aerosol Cans, Folding Cartons, Flexible Plastics, Others), By Material (Glass, Metal, Paper-based, Rigid Plastic, Flexible Packaging), By Application (Skin Care, Hair Care, Color Cosmetic, Sun Care, Oral Care, Fragrances & Perfumes), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028" report at https://www.fnfresearch.com/cosmetic-packaging-market
Cosmetic Packaging Market: Segmentation Analysis
The global Cosmetic Packaging market is segregated based on type, material and application.
The bottles category is expected to be the largest market for cosmetic packaging based on type. The bottles' dominance on the market can be due to their endurance. Plastic bottles are widely used since they are low in weight (simple to carry) and do not shatter easily. Furthermore, the demand for bottles for scents and perfumes is fast expanding due to the beautiful & premium design of glass bottles.
The skin care category is expected to be the largest segment in the cosmetic packaging market by application. The exponential development in demand for personal care and grooming goods around the world is responsible for this dominant market position. The demand for wellness, grooming, and personal care products have increased as a result of the change in lifestyle and purchasing patterns (particularly among the youth and male population), creating an opportunity for the skin care segment.
The Asia Pacific region will hold the largest market share. The rising demand for cosmetic packaging in the region can be attributed to the region's growing population, urbanization, and disposable income. Furthermore, there are less stringent norms and standards for the use of raw materials or ingredients in the manufacturing of packaging products, as well as the easy availability of cheap labor, which is attracting the region's major players to expand their operations. Furthermore, the rising demand for cosmetics in Asia Pacific's emerging economies is expected to boost the market for cosmetic packaging.
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The global Cosmetic Packaging market is segmented as follows:
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