by Cosmetic packaging serves as a primary marketing and promotion tool for cosmetic brands. Cosmetic packaging protects products from environmental factors such as moisture, dust, microbes, and damage during transportation. It also enhances the visual appeal and user experience of cosmetic products. Various types of packaging such as bottles, tubes, jars, containers, cans, pouches, sticks are commonly used for cosmetics such as skin care, hair care, makeup, and fragrances. Increasing focus on product differentiation and innovation through creative and premium packaging is fueling the growth of the cosmetic packaging market.
The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Focus on product differentiation and innovation through creative and premium packaging has been a key trend in the cosmetic packaging market. Cosmetic brands are increasingly focusing on innovative and premium packaging designs to make their products visually appealing and distinguishable on shelves. Sustainable and eco-friendly packaging using materials like recycled plastics, aluminium, glass is also gaining popularity among brands and consumers. Players are investing in R&D to develop innovative packaging incorporating trendy designs, interactive features, reusable/refill options to enhance the user experience and brand loyalty.
SWOT Analysis
Strength: Cosmetic packaging market boasts of high growth owing to rapid expansion of cosmetics industry. Increasing disposal income and shifting preferences towards premium cosmetic products propels the market growth.
Weakness: High cost of premium packaging materials and techniques poses challenges. Fluctuations in raw material prices hampers the profitability.
Opportunity: Rising demand for environment friendly and sustainable packaging offers huge untapped opportunities. Technological advancement in packaging enhance product attributes and visual appeal.
Threats: Stringent regulations pertaining to usage of certain materials curb the innovation. Intense competition diminish margins.
Key Takeaways
The Global Cosmetic Packaging Market Size is expected to witness high growth.
Regional Analysis: Asia Pacific region is estimated to be the fastest growing regional market. Rising middle class population, growing awareness about personal care, and shifting inclination towards western personal grooming drive the regional market growth. Growing youth population, expanding retail channels, and rising disposable incomes in China, India augment the market expansion.
Key players operating in the cosmetic packaging market are Abbott Laboratories, Baxter International Inc., Danone S.A., Nestlé S.A., GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Fresenius Kabi AG, BASF, Zeon Lifesciences Ltd., Mead Johnson & Company, LLC., B. Braun Melsungen AG., Nutrimed Healthcare Pvt. Ltd, and Zenova Bio Nutrition. The key players focus on new product launches, mergers, and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
