The cosmetic packaging market was valued at US$ 31,064. 7 million in 2021 and is projected to reach US$ 43,597. 9 million by 2028; it is expected to grow at a CAGR of 5. 0% from 2021 to 2028.
New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cosmetic Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Material, and Application" - https://www.reportlinker.com/p06269986/?utm_source=GNW
The growth of the cosmetic packaging market is driven by various innovative solutions, such as package printing technology.The manufacturers of cosmetic products use advanced and popular printing methods, such as hot stamp foil printing and flexography to create unique and eye-catching packaging for their products.
Further, manufacturers are heavily investing in developing virtual and augmented reality websites to provide convenience to the consumers while selecting the products online. The rising influence of makeup trends on social media platforms, such as Instagram, YouTube, and Facebook, further contribute to the growth of the cosmetic packaging market.
Based on material, the cosmetic packaging market is segmented into glass, plastic, paper, metal, and others.The plastic segment accounted for the largest share, whereas the market for the others segment is expected to grow at the highest rate during the forecast period.
The market for the others segment is categorized into bio plastic and stretch film.Bio plastics are made from plants or other biological materials instead of crude oil and natural gas.
Bio-based plastics are made from renewable ingredients, such as sugar cane, corn, sawdust, or microbes.The primary advantage of using bio plastics is their capability to improve a product’s environmental impact.
It helps reduce greenhouse gas emissions, and the material is nontoxic and allergy-free. In contrast, stretch film is used to wrap products on pallets. It helps reduce product loss, discourage load tampering, and reduce worker injury. The films keep the product free of moisture, dust, and dirt. A wide variety of cosmetic packaging is made of plastic due to its convenience and hygienic qualities. Plastic packaging is flexible and adaptable, allowing manufacturers to customize its shape, size, and style as per their requirements. Also, plastic is often cheaper than other traditional packaging materials, such as glass and metal. The most common plastic used in cosmetic packaging is polypropylene (PP), polyethylene terephthalate (PET), and acrylic. In addition, polyethylene is one of the most commonly used microplastics in cosmetic products, such as eyeliners, mascara, eye shadows, eyebrow pencils, lipsticks, face powders, foundations, skin cleansers, and skincare products.
By region, the cosmetic packaging market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).In 2020, Asia-Pacific held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.
Asia Pacific consists of developing economies and is experiencing rapid digitalization.Many beauty influencers are launching video tutorials on creating different makeup looks and are gaining high popularity among consumers.
Therefore, manufacturers of cosmetics products are collaborating with these influencers to promote their products, which are expected to open immense growth opportunities for the cosmetic industry in the coming years. Hence, the growth of the cosmetics industry in the region drives the cosmetic packaging market.
ALBEA; APC PACKAGING; AptarGroup, Inc.; Berry Global Inc.; Gerresheimer AG; WWP Beauty; Silgan Plastics.; Huhtamaki; LIBO Cosmetics; and HCP Packaging are among the players operating in the cosmetic packaging market. These companies provide a wide range of product portfolio for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the cosmetic packaging market growth. The market players are developing high-quality and innovative products to meet the customer’s requirements.
The overall cosmetic packaging market size has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the cosmetic packaging market.
Read the full report: https://www.reportlinker.com/p06269986/?utm_source=GNW
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