CHICAGO, March 6, 2020
CHICAGO, March 6, 2020 /PRNewswire/ -- According to the new market research report "Cosmetic Packaging Market by Type, Material (Glass, Metal, Rigid plastic, Paper-based, Flexible packaging), Application (Skin care, Hair care, Oral care, Sun care, Color cosmetic, Fragrance & perfume), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Cosmetic Packaging Market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a CAGR of 4.03% from 2020 to 2025.
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In terms of value and volume, bottles are estimated to lead the cosmetic packaging market in 2019.
Bottles, by type, accounted for the largest market share among all the types of cosmetic packaging because of the increase in demand for bottles from the personal care and hair care manufacturers. Bottles can be customized according to the requirements of the customers and maybe printed with unique ideas & patterns. The bottles are an ideal choice for most of the cosmetic products such as lotions, body wash, shampoos, conditioners, and many more.
In terms of value and volume, rigid plastic is estimated to lead the cosmetic packaging market in 2019.
The rigid plastic, by material, led the cosmetic packaging market in 2019, in terms of value and volume. Rigid plastic packaging involves the use of plastic materials; this form of packaging has an inflexible shape or form. Factors such as being lightweight and a cost-effective packaging solution for cosmetic products will boost the demand of rigid plastic bottles, jars, and containers for the cosmetic packaging industry (specifically for the color cosmetics, skin care and hair care application).
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Skin care is estimated to be the largest segment in the cosmetic packaging market in 2019.
Skin care, by application, accounted for the largest demand for cosmetic packaging in 2019, in terms of value and volume. This dominant market position is attributed to the boost in the demand for new and innovative skin care ranges such as face creams, anti-aging creams, sunscreens, and others. With the boost in the demand for personal grooming products, the demand for its packaging product has also gone up, which has created an opportunity for the growth of the skin care segment in the cosmetic packaging market.
The Asia Pacific region is projected to account for the largest share in the cosmetic packaging market during the forecast period.
The Asia Pacific region is projected to lead the cosmetic packaging market, in terms of both value and volume from 2020 to 2025. An Increase in demand for cosmetic products in emerging economies, as well as a boost in consumer awareness drives the investments of manufacturers to develop unique & innovative packaging solutions. This, in turn, increases the demand for cosmetic products, and is further expected to boost the demand for packaging in the Asia Pacific region.
Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), Albea SA (France), and DS Smith PLC (UK) are the key players operating in the cosmetic packaging market. Expansions, acquisitions, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the cosmetic packaging market.
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