The global Makeup Packaging Market is estimated to be valued at US$ 8126.3 Mn or in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The makeup packaging market includes various packaging solutions used for packaging makeup and cosmetic products such as foundation, lipsticks, eye shadows, face powders, perfumes, and others. The most commonly used makeup packaging includes glass and plastic containers, tubes, bottles, lip gloss containers, and compacts. Glass packaging offers premium looks with transparency and is the preferred material for high-end and luxury cosmetic products. Plastic packaging solutions are mostly used for mass products due to cost-effectiveness. Metal packaging such as aluminum and steel are also gaining popularity in the market due to their sustainability.
Market key trends:
One of the major trends in the makeup packaging market is the growing demand for sustainable and eco-friendly packaging materials and solutions. Consumer preference for green packaging made from recycled and bio-based materials is encouraging manufacturers to incorporate sustainable features in their packaging designs. Another key trend is the rising popularity of portable and travel-friendly packaging formats. Lightweight and compact packaging that can easily fit into purses are gaining traction. Customizable and multifunctional packaging that offers product protection as well as opportunities for branding and customization is also witnessing high demand. Innovation in packaging closures and applicators to provide improved usability is another important trend being observed in the market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the makeup packaging market requires high investment for R&D, branding and supply chain management. However, entry barriers may reduce over time due to availability of low-cost raw materials and simpler production processes.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several makeup brands that can negotiate low prices from suppliers. Buyers can also easily switch to alternative suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers for packaging formats like plastic, glass and metal. However, suppliers may have an edge due to their control over prices of certain specialty chemicals and components.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes available for the diverse range of packaging solutions required by the cosmetics industry. However, substitutes like flexible pouches may compete with conventional bottles, jars and tubes.
Competitive rivalry: The competitive rivalry is high owing to the presence of numerous global and regional players offering similar product ranges and engaged in price-based competition.
Key Takeaways
The Global Makeup Packaging Market Trend is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing demand for premium and sustainable cosmetic products.
The market size for 2023 is estimated to be US$ 8126.3 Mn. Factors like rising disposable income, growing working population and expansion of e-commerce are fueling the adoption of makeup items globally and driving the need for innovative packaging formats.
Regional analysis
North America is expected to dominate the global makeup packaging market during the forecast period. The large cosmetic industry, high per capita spending on personal care products and strong presence of leading brands are contributing to the market growth in the region. Asia Pacific is likely to exhibit the fastest growth rate, led by China and India. Expanding middle class, growing workingwomen population and rising skincare and colors cosmetics demand are set to push the makeup packaging demand upwards in Asia Pacific.
Key players
Key players operating in the Makeup Packaging market are Albéa S.A., AptarGroup, Inc., Axilone USA, ShyaHsin Packaging (China) Co., Ltd., Lumson SpA, Toly Group, Cosmopak Corp., Yoshida Industries Co., Ltd., Mitani Valve Co Ltd., HCP Packaging (Shanghai) Co. Ltd., Quadpack Industries, S.A., Kolmar Laboratories, Inc., and others. Albéa S.A (France) is one of the leading companies offering innovative and sustainable packaging solutions for cosmetic and beauty products. AptarGroup (U.S.) supplies a variety of dispensers, closures and pumps used in beauty and personal care packaging.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it