February 24, 2024
Cosmetic Packaging Market

Cosmetic Packaging Is Driven By The Growing Beauty And Skincare Industry

The cosmetics packaging industry produces a wide range of products for beauty and personal care goods. Packaging solutions range from bottles, jars, tubes, and cases for products like foundations, concealers, moisturizers, perfumes, and hair care items. Cosmetic packaging serves practical purposes like containing, protecting, displaying, and applying products. They also aim to attract customers through innovative designs, materials and closures. Growing concern over anti-counterfeiting, sustainability and customization are propelling packaging innovations.

The global Cosmetic Packaging Market is estimated to be valued at US$ 31,588.71 million 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:

The personal care industry is moving towards more sustainable packaging options. Cosmetic companies are increasingly opting for eco-friendly materials like recycled plastics, bio-plastics and glass in their packaging lines. Lightweight and portable packaging designs are also gaining popularity. Stand-up pouches, squeeze tubes and automated applicators allow for travel-friendly formats with less waste. Customization through interactive displays, connecting apps and QR codes are enhancing consumer shopping experiences. Rapid digitization is enabling virtual product sampling, smart packaging integration and augmented reality applications in cosmetic stores. Growing demand from millennial consumers and the direct-to-consumer approach taken by indie brands are spurring innovation in personalized packaging lines

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the presence of established players and requirements for high R&D and capital investments.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of suitable substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw material suppliers.

Threat of new substitutes: The threat of new substitutes is moderate due to the availability of packaging options from other industries.

Competitive rivalry: Competitive rivalry is high due to the presence of established global players.

Key Takeaways

The Global Cosmetic Packaging Market Demand  is expected to witness high growth.

Regional analysis: The Asia Pacific region is expected to dominate the market and witness the highest growth during the forecast period owing to the rising disposable income and increasing consumer spending on personal care and cosmetic products in major economies like China and India.

Key players related content comprises 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it