Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Makeup Packaging Market – Insights
Packaging material plays a vital role in the packaging industry. Growing concern regarding environmental safety has led companies to adopt reusable and eco-friendly materials for manufacturing makeup packaging products. For instance, Olvine Atelier’s wide range of perfume oil and sea salt spray products are cruelty free and feature appealing eco-friendly glass packaging. The market is expected to reach US$ 11,025.71 million by the end of 2027, at a CAGR of 5.5% over the forecast period, owing to rising awareness about personal care and grooming.
Major market players such as Albéa Group, HCP Packaging, RPC Group, Gerresheimer Holdings, Bemis Company, Inc., AREXIM Packaging Company, DS Smith, Fusion Packaging Solutions, and The Libo Cosmetics Company, Ltd. are focusing on designing innovative packaging products such as refill pouches and aesthetically appealing packaging, in order to expand their consumer base. Moreover, the companies are focused on offering consumer friendly packaging by developing handy and compact packaging products.
Furthermore, the companies are engaged in various research & development activities, in order to meet industry sustainability standards and consumer requirements. For instance, Pangea Organics manufactures fiber-based packaging material, which is biodegradable and replantable. Pangea Organics’ soap packaging is embedded with wildflower seeds and herbs, which can be planted in soil after soaking.
Among material type, makeup packaging material is segmented into plastic, metal, glass, and others. Plastic has emerged as a major material type segment in makeup and cosmetics packaging industry, owing to its versatile nature. However, paper packaging segment is expected to gain traction owing to rising focus on environment-friendly packaging across the globe.
Packaging is an important component in the cosmetics and makeup packaging industry, and for some products, packaging of the cosmetics and makeup products is more important than the product. Packaging plays a vital role in improving the appearance of the product and makes it more aesthetically appealing to the consumer. Growing demand for cosmetics and personal care products is expected to drive growth of the makeup packaging market.
Manufacturers are focusing on enhancing portability of the products and developing smaller pack sizes for increasing affordability for consumers. Furthermore, rising environmental concerns have led companies to adopt environment-friendly packaging solutions such as paper packaging. For instance, U.S.-based companies such as Procter & Gamble and Johnson & Johnson manufacture paper and bio-based flexible packaging products for the makeup and cosmetics industry.
The global makeup packaging market is expected to be valued at US$ 11,025.71 million by 2027 and is expected to register a CAGR of 5.5% in terms of revenue over the forecast period (2019 – 2027).
Figure 1. Global Makeup Packaging Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Among region, Asia Pacific is the fastest growing market and accounted for the largest market share of around 37.4% in 2018. Factors such as rising e-commerce sales, increasing number of mobile phone users, and high internet penetration are expected to drive sale for makeup products through online platforms. This, in turn is expected to facilitate demand for packaging products and fuel growth of the makeup packaging industry over the forecast period. For instance, according to the India Brand Equity Foundation (IBEF)’s report, published in 2018, India is the fastest growing market in the e-commerce sector. The e-commerce sector in India was valued at US$ 39 billion in 2017 and is expected to reach US$ 120 billion by 2020, recording an annual growth of 51.0%.
Moreover, market players such as ShyaHsin Packaging (China) Co., Ltd., Yoshida Industries Co., Ltd., Mitani Valve Co., Ltd., HANA Innovation, Samhwa Plastic Co., Ltd., and HCP Packaging (Shanghai) Co., Ltd are headquartered in Asia Pacific, which is expected to contribute to higher exports of makeup packaging products from this region.
Figure 2. Global Makeup Packaging Market Share (%), By Material, 2018
Source: Coherent Market Insights, 2018-19
Players operating in the global makeup packaging market are adopting various growth strategies such as mergers, acquisitions, business expansions, and product launches to cater to increasing demand for makeup packaging products. For instance, in January 2019, Yonwoo Co., Ltd., a South Korea-based makeup packaging company, launched a product called ‘Ampoule Dropper’. The specialty of this design is that precisely one drop of formula can be released by squeezing the teat once. This controlled dosing system makes it useful for suck-back function of the sealing structure prevents any bulk residue in the pipette ensuring hygiene.
Major players operating in the global makeup packaging market include Albéa S.A., AptarGroup, Inc., Axilone USA, ShyaHsin Packaging (China) Co., Ltd., Lumson SpA, Toly Group, Cosmopak Corp., Yoshida Industries Co., Ltd., Mitani Valve Co Ltd., HCP Packaging (Shanghai) Co. Ltd., Quadpack Industries, S.A., Kolmar Laboratories, Inc., and others.