Cosmetic Packaging Market Overview 2021 to 2028, Future Trends and Forecast

 According to our latest market study on “Cosmetic Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Tubes, Bottles, Jars, Pumps and Dispensers, and Others), Material (Glass, Plastic, Paper, Metal, and Others), and Application (Skin Care, Hair Care, Oral Care, and Others),” the 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. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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Presently, cosmetics have become an indispensable feature of the modern lifestyle of individuals. In addition, growth in consciousness about external beauty and skin health has become one of the major driving factors for the use of cosmetics in the global market. Presently, along with women, there is a rise in the use of cosmetics among men in their daily routine, which complements the growth of the cosmetics market demand. In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance.  The industry offers various products, such as hair care, face care, lip care, etc.  Additionally, the increasing demand for anti-ageing creams and serums and the development of advanced tools and innovative packaging are attracting consumers. Hence, such changing lifestyles have led to the development of the cosmetics market worldwide.

Regions like North America and Europe are considered to be the largest markets in the cosmetic industry. According to the data from L’Oreal, the global cosmetic industry witnessed a growth rate of 5.5% in 2019. According to Cosmetics Europe, the European cosmetic market grew from US$ 89.30 in 2018 to US$ 90.66 in 2019. As cosmetics have become an integral part of individuals' lives, consumers, especially women, prefer to use cosmetics products that are handy and easy to use while travelling or attending social meetings. Moreover, the use of natural ingredients for manufacturing cosmetics products, which does not have any adverse effect on the skin, is a popular strategy of manufacturers to attract more customers. This also helps in increasing the revenue of companies operating in this industry.

The cosmetic packaging market is growing due to the increasing demand from the cosmetic industry and numerous product innovations in the field. In recent years, there have been various technological advancements in the market. Manufacturing companies are increasing their focus on innovation and offering new products to enhance customer experience. Manufacturers are also focusing on innovative packaging designs and products to attract consumers, which provides them a competitive edge. For instance, Albea SA, a packaging solution provider, developed a Teardrop tube, a drop-by-drop dispensing system for liquid formulations. The tube is lighter and offers more resistant packaging than a glass bottle, and it is an ideal solution for on-the-go usage. Along with this, Albea SA and L’Oréal together developed the very first cosmetic tube integrating certified paper-based material. Such new product developments are propelling the demand for cosmetic packaging.

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