by The global cosmetic packaging market is associated with a range of products including cartons, flexible films & pouches, glass, metal, and plastic bottles. The packaging helps in retaining the physical properties and provides aesthetic value, convenience, ease of use, product safety to the packaging by protection from external factors like moisture, oxygen, UV radiation, chemicals and contaminants.
The Global cosmetic packaging market is estimated to be valued at US$ 36390.2 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 To 2031.
Key Takeaways
Cosmetic Packaging Market Key players operating 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. Key opportunities in the market include sustainable and eco-friendly packaging which is compliant with the changing consumer preferences and stringent regulations. The APAC region, especially China and India are expected to witness high growth owing to increased penetration of beauty and personal care products.
Market drivers
Increased consumption of beauty products across the globe especially in emerging economies is expected to be a major driver for the Cosmetic Packaging Market Trends during the forecast period. Rising awareness regarding personal grooming and growing working women population is fueling the consumption of various beauty products such as skin care, hair care, makeup etc. This is increasing the demand for efficient and sustainable packaging solutions in the cosmetic industry.
PEST Analysis
Political: The government regulations regarding the usage of Cosmetic Packaging Market and hazardous materials affects the cosmetic packaging industry. Various stringent rules have been introduced recently to promote sustainability.
Economic: Changes in the purchasing power of consumers influence the demand for premium and luxury cosmetic products which attract enhanced packaging solutions. Volatility in raw material prices poses a challenge.
Social: Rising appearance consciousness and need for personal care boosts the cosmetic products market. Social media trends popularizing new brands aid the packaging industry.
Technological: Advanced printing, coating and forming techniques facilitate customized designs and interactive features. Eco-friendly materials and smart connectivity solutions are gaining popularity.
Geographical regions where market in terms of value is concentrated
North America and Western Europe hold a major share of the global cosmetic packaging market value owing to large cosmetic manufacturers present and higher per capita spending on personal care and beauty products. Asia Pacific is also a key region supported by rapid economic growth, rising living standards and increasing population in countries like China and India.
Fastest growing region for the market
Asia Pacific region is projected to witness the fastest growth during the forecast period led by growing middle class, changing lifestyles and rising expenditure on luxury items in developing nations. Establishment of manufacturing facilities by international brands and growth of domestic cosmetic companies further aid the packaging industry expansion in Asia Pacific.
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1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
