The global cosmetic packaging market was valued at US$ 27,295 million in 2019, according to Cosmetic Packaging Market Report, by Material Type (Glass, Paper, Plastic, Metal, and Others), Container Type (Jars, Tubes, Bottles, Pumps & Dispensers, Sachets, and Others), Application (Skin Care, Hair Care, Make Up, and Nail Care), Declared Capacity ( (Below 50 ml, 50 ml-100ml, 100 ml-150ml, 150ml-200ml, above 200ml), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global cosmetics packaging market was estimated to be valued over US$ 27,295.80 million in terms of revenue in 2019 and is forecast to exhibit a CAGR of 3.44% during the forecast period (2020-2027). Growing demand for anti-aging products especially among the female population is primarily propelling the market growth of cosmetic packaging. A growing aging population , due to improved healthcare systems over the past decades, coupled with the increasing preferences of the population to enhance their overall appearance is expected to propel the market growth of the cosmetic products market which drives the demand for cosmetic packaging. Also, increasing per capita spending on cosmetics is another major factor increasing the sale of cosmetic products, thereby, augmenting the market growth. For instance, according to statistical data from the Government of UK, average weekly expenditure for a household increased from USD 793 in 2017 to USD 797 in 2019.
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Browse 50 market data tables* and 45 figures* on "Cosmetics Packaging Market” - Global Forecast to 2027.
Key Trends and Analysis of the Cosmetics Packaging Market:
- The growing use of airless packaging is a current trend in the market. Airless packaging avoids the excessive exposure of the cosmetic product to air and helps in extending the shelf life of the cosmetic product and also provides extra protection and aesthetic look. Airless packaging is mostly done for natural skin care creams and serums. This factor along with the low cost of packaging is a major factor encouraging cosmetics manufacturers to adopt airless products, thereby fueling the market growth of the cosmetic packaging.
- Growing strategic partnerships and agreements amongby the key manufacturers is one of the growing trends in the market and this trend is expected to bolster drive the market growth. For instance, in October 2019, L’Oréal in partnership with Albéa announced the creation of the first carton-based cosmetic tube, where plastic is is for the most part replaced with a bio-based and certified paper-like material.
Key Takeaways of the Market:
- Based on material type, the plastic segment is estimated to be dominanted in the global cosmetic packaging market in 2020, accounting for 56% share in terms of volume, followed by paper and glass, respectively. The low cost of plastic is the primary factor driving the growth of the plastic segment.
- Major players operating in the global cosmetics packaging market include include Aptar Group, Inc, RPC Group Plc, Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, Quadpack Industries, HCP Packaging, Fusion Packaging, and ABC Packaging Ltd.. Key players operating in the cosmetics packaging market are focusing on various strategies such as mergers & acquisitions in order to strengthen their market presence and expand their product portfolio. For instance, in October 2019, AptarGroup, Inc. a global provider of dispensing, drug delivery, and active packaging solutions, announced that it hads signed an agreement to acquire a 49% equity interest in three related BTY companies: Suzhou Hsing Kwang (“SZHK”), Suqian Hsing Kwang (“SQHK”), and Suzhou BTY (“BTY”), collectively referred to as BTY.
Global Cosmetics Packaging Market - Impact of Coronavirus (Covid-19) Pandemic
- COVID-19 has changed the consumer buying pattern with cuts on spending on non-essentials. Owing to nationwide lockdowns and social distancing measures implemented in countries such as the U.K., Italy, Spain, Russia, Malaysia, Singapore, and India, demand for cosmetics has declined. For instance, sales of the cosmetics business of Kao Corporation decreased by 11.4% in the first quarter of 2020 compared to the first quarter of 2019 as reported by Kao Corporation in April 2020. Revlon Inc., a cosmetics company, witnessed a decrease in sales by 18.1% in the first quarter of 2020 as compared to the first quarter of 2019 as reported by the company in May 2020. A significant decrease in sales of cosmetics is expected to negatively hamper growth of the cosmetics packaging market.
- Sales of lipsticks and other cosmetic products are decreasing as consumers are staying at home or wearing masks. This is hampering sales of lipstick packaging. However, there has been rising preference for eye makeup products such as mascara, eyeshadow, etc. which is expected to drive demand for eye makeup packaging products.