Global lip care products packaging market was valued at US$ 973.2 Million in 2016, according to Global Lip Care Products Packaging Market by Packaging Type (Glass Packaging, Plastic Packaging, Metal Packaging, and Others), by Application Type (Sun Protection, Non-Medicated, and Medicated & Therapeutic), by Material Type (Plastic, Glass, Metal, and Others) published by Coherent Market Insights. The lip care products packaging market is expected to register a CAGR of 4.72% over the forecast period (2017 - 2025) to reach US$ 1452.7 Million by 2025.
The key driver for the growth of lip care products packaging market is the aesthetic appeal of the lip care packaged product, which remains the major strategy of the lip care products packaging companies. Furthermore, unique customization and bio-material packaging has created growth opportunities in this market by gaining consumer traction. The increasing use of green packaging in the cosmetic industry provides opportunities to the market players of lip care products packaging. For instance, in 2014, Eco Lips, an organic lip care company had launched new lip balm that are packaged in tubes made of compostable and biodegradable paper.
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The major players operating in the global lip care products packaging market include Pack Tech A/S, HCP Packaging CO. Ltd., Arminak & Associates LLC, Eastar Cosmetics Packaging, IMS Ningbo Limited and, The Packaging Company.
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