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Westford, USA, April 05, 2023 (GLOBE NEWSWIRE) — The cosmetic packaging market is set to reach USD 42.80 billion by 2030, growing at a CAGR of 4.1% during the forecast period (2023-2030), driven by the increased demand for sustainable packaging, growth of e-commerce, rising demand for premium products, and technological advancements in packaging. The beauty and personal care industry contributes to the market’s growth. According to a report by SkyQuest, 60% of consumers consider the environmental impact of packaging when making purchasing decisions, with the younger generation showing even higher figures. Furthermore, a survey by Deloitte found that 57% of consumers are willing to pay more for sustainable packaging.
SkyQuest’s latest global research indicates that smart packaging with sensors and indicators is anticipated to be one of the top packaging trends in the coming years. These technological advancements are expected to drive innovation in the cosmetic packaging industry. According to Packaging Europe, 80% of consumers are willing to pay more for products with smart packaging that can communicate important information such as freshness, storage conditions, and usage instructions.
Browse in-depth TOC on “Cosmetic Packaging Market”
- Pages – 273
- Tables – 64
- Figures – 66
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In today’s time, the cosmetic packaging market is of utmost importance as it provides protection to the products, differentiates brands, and attracts consumers through aesthetic appeal, facilitating ease of use and convenience. The market is poised to witness significant growth in the coming years, fueled by the increasing demand for sustainable packaging and technological advancements like smart packaging.
Prominent Players in Cosmetic Packaging Market
- AptarGroup, Inc.
- Gerresheimer AG
- HCP Packaging
- RPC Group Plc
- Albea Group
- Quadpack Industries
- Lumson SPA
- Fusion Packaging
- Libo Cosmetics Company, Ltd.
- Cosmopak USA LLC
- Silgan Holdings Inc.
- Berry Global Inc.
- East Hill Industries LLC
- Zignago Vetro S.p.A.
- Amcor plc
- Coverpla S.A.S.
- IntraPac International LLC
- World Wide Packaging LLC
- Baralan USA LLC
- Vetroplas Packaging Ltd.
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Skincare Applications Segment to Drive Higher Sales as There is Increasing Demand for Anti-Aging Products, Sun Protection
A recent analysis has revealed that the Skincare Applications segment played a significant role in driving the rapid growth of the Cosmetic Packaging market in 2021. This trend is expected to continue from 2022 to 2030, driven by the increasing demand for anti-aging products, sun protection, and other skincare products, as well as the growing demand for sustainable and eco-friendly packaging materials. Additionally, Skyquest has reported that the Skin Care segment in the cosmetic packaging market is anticipated to grow at a CAGR of 5.2% during the forecast period.
Research analysis indicates that North America is positioned to become a dominant player in the Cosmetic Packaging market from 2022 to 2030. SkyQuest has projected that the region will experience a CAGR of 5.22% during the forecast period. The growth can be attributed to the developing biodegradable and compostable materials and introducing smart packaging solutions with features like tamper-evident seals and anti-counterfeit technology. Furthermore, companies in the region are investing in innovative designs and materials to enhance the aesthetic appeal and functionality of cosmetic packaging. The U.S. government has introduced regulations such as the Federal Food, Drug, and Cosmetic Act to establish safety standards for cosmetic products and packaging materials. Additionally, several states in the U.S. have implemented recycling programs and regulations to reduce packaging waste.
Plastic Packaging Type Segment to Exhibit Strong Growth Due to Cost-Effectiveness and Durability of Plastic Packaging
The Plastic Packaging Type segment has emerged as the leading method in the Cosmetic Packaging market in 2021 and is expected to maintain its dominance from 2022 to 2030. This trend is being driven by the cost-effectiveness and durability of plastic packaging, the growing demand for eco-friendly and sustainable plastic packaging materials, and the increased usage of plastic tubes and containers for cosmetic products. SkyQuest has highlighted the rising use of PET (polyethylene terephthalate) plastic in the cosmetic packaging market, with the report predicting a CAGR of 4.7% for the PET packaging segment. Additionally, the report forecasts that the PET packaging segment will continue to grow at a CAGR of 4.7% from 2022 to 2030.
The Asia Pacific region has emerged as a significant force in the Cosmetic Packaging market and is expected to maintain its leading position by 2030. SkyQuest has forecasted substantial growth in the Cosmetic Packaging market for the Asia Pacific region, with a projected CAGR of 5.57% during the forecast period. This growth is attributed to the increasing population, rising disposable income, and growing demand for cosmetic products in the region. The market’s expansion is also supported by various government initiatives and regulations to promote domestic manufacturing and ensure product safety and quality. For example, in Japan, the Ministry of Health, Labour, and Welfare has established the Pharmaceutical Affairs Law (PAL) to ensure the safety and quality of cosmetic products and packaging, requiring companies to register their cosmetic products and packaging materials and obtain certification from the government.
A comprehensive analysis of the major players in the Cosmetic Packaging market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Cosmetic Packaging Market
- Berlin Packaging, a hybrid packaging supplier based in the US, has acquired Premi, a Milan-based company specializing in designing and manufacturing cosmetic and beauty packaging. Premi provides packaging products and services to major companies and operates research and development centers in Europe, the US, and Asia to assist clients from product conception to commercial launch.
- TriMas has announced the acquisition of Aarts Packaging B.V., a well-established provider of luxury packaging solutions for prestigious beauty and lifestyle brands. Aarts Packaging also serves customers in the food and life sciences markets with innovative packaging solutions. As of now, Aarts Packaging will be integrated into the group of leading businesses under TriMas Packaging, which includes Rieke®, Affaba & Ferrari™, Rapak®, Taplast™, Intertech, and Omega Plastics.
Key Questions Answered in Cosmetic Packaging Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
Related Reports in SkyQuest’s Library:
Global LED Light Face Mask Market
Global Organic Bar Soap Market
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