The global cosmetics packaging market is likely to witness significant growth owing to factors such as increasing awareness for personal care and rising adoption for cosmetics during the forecast period. Fortune Business Insights, published this information, in its latest report, tiled“Cosmetic Packaging Market Size, Share & Industry Analysis, By Material Type (Plastic, Glass, Metal, Others), By Cosmetic Type (Hair Care, Skin Care, Make-up, Nail Care, Others) Others and Regional Forecast, 2019-2026.”
COVID -19 Impact
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Cosmetic packaging serves the basic goal of protecting the product from several external factors such as heat, light, moisture, dirt, and dust that may degrade the quality of the cosmetic products. Furthermore, efficient packaging enables safety of the products during transportation and logistics. Moreover, several motivational research has shown that efficient and reliable packaging of the cosmetic product drive the consumer-buying pattern positively. As the famous quote goes by “The books is Judged by its Cover”, likewise a good and reliable packaging is expected to drive the growth of the market during the forecast period.
What does the Report Include?
The market report includes detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Adoption of Organic Ingredients to Boost Demand
Consumer awareness for natural ingredients over synthetic ingredients is rising in developed economies. This presents a positive picture for manufacturers and exporters of organic cosmetics from developing economies to cater to the rising demand that will boost the growth of the market during the projected horizon. Moreover, increasing adoption of organic materials such as vegetable oils, essential oils, and natural colorants in soaps, makeup kits, and deodorants will contribute to the growth of the market during the forecast period. Moreover, rising environmental concerns is fueling the demand for organic ingredients and the companies operating in the market are focusing on developing synthetic-free products. This will drive the growth of the market in the forthcoming years.
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Rising Awareness for Cosmetics in Asia-Pacific to Augur Growth
Among the regions, Asia-Pacific is anticipated to hold the largest share for the market during the forecast period. This is ascribable to factors such as increasing awareness for popular cosmetic brands in this region. In addition to this, presence of several cosmetic product manufacturers and increasing demand by countries such as India, South Korea, and China will boost the demand for the market in Asia-Pacific in the forthcoming years. On the other hand, North America will register substantial growth for the market backed by increasing adoption of technology and rising adoption of skincare products. The market in Europe is likely to expand during the forecast period. This is attributable to factors such growing beauty consciousness among the people and affordable products during the projected horizon.
According to the report, the market comprises of several small, medium, and large-scale industries. The companies are striving to maintain market presence to maintain stronghold in the forthcoming years. The companies are doing so by adopting strategies such as merger and acquisition, product launches and developments that will positively affect the growth of the market during the forecast period. Below are key industrial developments for the market:
- March 2018: RPC Group Plc announces its acquisition of Nordfolien GmbH, a leading German packaging company. According to the company, the deal is worth EUR 75 million and additionally includes in-house recycling capabilities located in countries such as Germany, and Poland.
- February 2017: RPC Group Plc announces that it has acquired Promens AS, a reputed Iceland-based company. This deal will expand RPC Group’s footprint in personal, healthcare, and food markets in Iceland.
List of the Companies Proliferating in the Market:
- RPC Group Plc
- Amcor Limited
- Libo Cosmetics Company Ltd.
- HCP Packaging Co. Ltd.
- Aptar Group Inc.
- Cosmopak Ltd.
- Quadpack Industries SA
- Rieke Packaging Systems Ltd.
- Albea SA
- DS Smith
- Gerresheimer AG
- Paepak Ltd.
- Among others
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