03.08.18
A recent report from Research and Markets shows that the global cosmetic packaging market was valued at $24.86 billion in 2017 and is projected to reach a value of $31.75 billion by 2023, at a CAGR of 4.16% over the forecast period, 2018-2023.
Data includes primary packaging of cosmetics in products including bottles, cans, pouches, tubes, bags, and jars and more. Packaging materials covered include primarily plastic, metal, and glass.
Trend Predictions
One observation: Suppliers were observed to be moving toward adopting recyclable and eco-friendly packaging products due to growing environmental concerns among consumers. Another: Urbanization and growing awareness about personal grooming have led to the expansion of the consumer base for cosmetic products. The demand for innovative designs and colors in packaging products, and a focus on packaging for brand differentiation are the primary factors driving the growth of the market. Plastic has emerged as the material of choice for cosmetic packaging because of its versatile nature.
The report notes the impact of 3D printing in significantly changing the consumer’s sensorial experience. It is expected that the technology will have a significant effect on packaging over the coming years. Virtual reality is also likely to enter into more packaging solutions.
In terms of volume, the hair care, deodorants, and personal care segments are the largest contributors to this market. The demand for tamper-evident closures, sprays, and pumps is expected to lead to demand for materials with high-barrier properties that can provide greater protection.
Rapid urbanization, a rise in disposable incomes, and growing awareness about health and hygiene are some of the major factors driving the growth of the market. Thus, the report predicts that countries such as China, India and Vietnam, are likely to witness rapid growth during the forecast period.
See Beauty Packaging's feature story on Color Cosmetics Packaging
Data includes primary packaging of cosmetics in products including bottles, cans, pouches, tubes, bags, and jars and more. Packaging materials covered include primarily plastic, metal, and glass.
Trend Predictions
One observation: Suppliers were observed to be moving toward adopting recyclable and eco-friendly packaging products due to growing environmental concerns among consumers. Another: Urbanization and growing awareness about personal grooming have led to the expansion of the consumer base for cosmetic products. The demand for innovative designs and colors in packaging products, and a focus on packaging for brand differentiation are the primary factors driving the growth of the market. Plastic has emerged as the material of choice for cosmetic packaging because of its versatile nature.
The report notes the impact of 3D printing in significantly changing the consumer’s sensorial experience. It is expected that the technology will have a significant effect on packaging over the coming years. Virtual reality is also likely to enter into more packaging solutions.
In terms of volume, the hair care, deodorants, and personal care segments are the largest contributors to this market. The demand for tamper-evident closures, sprays, and pumps is expected to lead to demand for materials with high-barrier properties that can provide greater protection.
Rapid urbanization, a rise in disposable incomes, and growing awareness about health and hygiene are some of the major factors driving the growth of the market. Thus, the report predicts that countries such as China, India and Vietnam, are likely to witness rapid growth during the forecast period.
See Beauty Packaging's feature story on Color Cosmetics Packaging
