The global Cosmetic Packaging Market size is anticipated to reach USD 39.32 billion by 2027 owing to the rapidly augmenting beauty industry worldwide. Fortune Business Insights™ titled, “Cosmetic Packaging Market Size, Share & Industry Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application Type (Skin Care, Haircare, Make-up, and Nail care), and Regional Forecast, 2020-2027.” According to this report, the market value stood at USD 30.37 billion in 2019 and is poised to register a CAGR of 4.03% between 2020 to 2027.
Cosmetic Packaging Market Drivers and Restraints :
Various factors promoting the Cosmetic Packaging market growth include a rise in beauty standards, an increasing variety of cosmetics worldwide, and the rising disposable incomes of people. On the contrary, environmental concerns and animal-cruelty cases pose challenges for the market.
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List of Significant Manufacturers Cosmetic Packaging market are:
- DS Smith
- Albea SA
- BIG SKY PACKAGING
- Berlin Packaging
- HCP Packaging
- Berry Global
- ALPLA Group
- Aptar, Inc.
- Sealed Air Corporation
- Other Players
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Asia Pacific Emerges Dominant Owing to Increasing Demand for Cigarettes
In 2019, Asia Pacific earned a revenue of USD 9.30 billion and emerged dominant with Japan, China, and India emerging as the largest manufacturing units. This growth is attributable to the increasing demand for cigarettes. Europe ranks second in the market with the UK, Germany, and Russia emerging as leading nations. However, this region may face challenges in terms of stringent tobacco regulations in the forecast years. Furthermore, the rising demand for chewing tobacco, cigars, cigarettes, and other products from nations such as Egypt, South Africa, and Turkey are likely to help the Middle East and Africa witness substantial growth in the coming years.
Asia Pacific to Continue Dominance with Rising Disposable Incomes of People
Asia Pacific dominated the Cosmetic Packaging market with a revenue of USD 10.50 billion in 2019 with China holding about three-fifth or more share. China is the second-largest cosmetics market after the U.S.
Some of the key industry developments in the Cosmetic Packaging market Include:
September 2020 – After the acquisition of Lepolast, a manufacturer of lip-glosses and lipsticks, Lumson entered into a partnership with Marino Belotti, a packaging producer of compact cases and other powder boxes.
June 2020 – Amcor acquired the Bemis Company for strengthening the demand and supply chain of cosmetic packaging throughout the United States.
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