Cosmetic packaging is gathering steam in the market, with significant growth expected over the projection timeframe, from 2018 to 2026, owing to a rise in demand from the millennials in emerging markets like South Africa, Brazil, and India. The global hair care and skin care sectors are expanding at a faster rate each year. Anti-aging items such as hair conditioners, shampoos, and creams are likely to boost the global cosmetic packaging market.
Smurfit Kappa Group PLC, Libo Cosmetics Company, Ltd., Essel Propack Ltd, Alovey Cosmetic Packaging Co., Ltd, Aptar Group, Inc, and Rise Cosmetic Packaging Co., Ltd are some of the companies in the global cosmetic packaging market.
Due to its sustainability features, increased shelf-appeal, high graphics printing, longer shelf-life, and stylish design, the global cosmetic packaging market has seen remarkable growth in recent years. This trend is projected to continue over the forecast period, from 2018 to 2026.
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Rising Demand for Cosmetics and Increasing Disposable Income to Drive Growth in Asia Pacific
In terms of region, the global cosmetic packaging market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
In 2019, the Asia Pacific region held the highest market share. The rising need for cosmetic packaging in the Asia Pacific region can be linked to the region’s disposable income, urbanization, and expanding population. Furthermore, less strict rules and requirements for the usage of ingredients or raw materials in packaging product manufacture, as well as the simple availability of inexpensive labor, are enticing big businesses to expand their operations in the Asia Pacific. Furthermore, rising demand for cosmetics in the developing nations of Asia Pacific is projected to enhance the market for cosmetic packaging.
Advancements in Package Printing Technology to Drive Demand for Cosmetic Packaging Solutions
The global cosmetic packaging market is being driven by package printing technology. Cosmetic producers can use advanced and popular printing methods like flexography and hot stamp foil printing to create unique and appealing packaging for their products. New advancements in material as well as printing technology have ushered in a slew of new cosmetic package design ideas, which is likely to foster growth of the global cosmetic packaging market. Businesses utilize biaxially-oriented polypropylene (BOPP) as a packaging material for cosmetics and use polypropylene films for luxury cosmetic packaging, which is likely to augur well for the market. Cosmetic packaging firms all around the world are using 3D printing technology. Cosmetics, perfumes, and shampoos are commonly packaged using 3D printing, which provides the product an attractive appearance.
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The global cosmetic packaging market is being driven by an increase in the number of commercial setups. The market is anticipated to develop due to factors such as an increase in the middle-class population in Asia Pacific nations, changing lifestyles of people, and beauty and wellness business services. Furthermore, color cosmetics are used in business enterprises at a higher rate than in homes. This trend is projected to persist during the forecast period, driving demand in the global cosmetic packaging market in the years to come. The primary force driving the demand for cosmetic packaging in developing countries is improving economic circumstances combined with a growing attention on grooming. One of the major factors driving sales of the cosmetic packaging is a growing awareness about anti-aging items amongst women.
The information shared in this review is based on a TMR report, bearing the title, “Cosmetic Packaging Market (Material Type – Glass, Paper, Plastic, and Metal; Application Type – Skin Care, Hair Care, Make Up, and Nail Care; Container Type – Jars, Tubes, Bottles, Pumps and Dispensers, and Sachets; Capacity – < 50 ml, 50- 100 ml, 100 – 150 ml, 150 – 200 ml, and > 200 ml) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”
Developments in the Global Cosmetic Packaging Market
In February 2016, the company acquired Megaplast GmbH, Megaplast France s.a.r.l. and Mega Pumps L.P. from Megaplast Group. The objective of the acquisitions is to manufacture all-plastic airless dispensing systems for beauty care.
In January 2017, the company was recognized with WorldStar Packaging Award for its innovative inverted Daisy Squeeze Sour Cream packaging.
In March 2018, RPC Group PLC acquired German packaging peer Nordfolien GmBH for EUR 75 million. Nordfolien operates from two sites in Germany and Poland which also include in-house recycling capabilities.
In February 2017, the company acquired Promens AS, an Icelandic company providing rigid plastic solutions for personal, healthcare, and food markets.
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