John Nelson, Smithers Editor03.24.24
World demand for cosmetics packaging has rebounded from the depression of the Covid years to reach $38.56 billion in global sales value, according to the latest exclusive data from Smithers.
Related: Smithers' market outlook for refillable packaging.
The market report, The Future of Global Packaging to 2028, shows a +4.1% gain on 2022, in the cosmetic packaging market. Smithers' expert analysis forecasts a positive compound annual growth rate (CAGR) of +4.2% through to 2028.
As this happens, there will be growth in multiple end-use segments. Simultaneously the sector will provide a forum for sustainable packaging innovations, as a demonstrable commitment to the environment has emerged as a key differentiator between competing cosmetics brands, especially in the clean beauty space.
Packaging innovations will include adoption of mono-material plastic substrates, polymer grades with higher percentages of post-consumer recycled (PCR) resins, more efficient dispensing caps and closures, and wide use of fibre-based packaging, such as premium cartonboard grades and moulded pulp formats.
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Related: Smithers' market outlook for refillable packaging.
The market report, The Future of Global Packaging to 2028, shows a +4.1% gain on 2022, in the cosmetic packaging market. Smithers' expert analysis forecasts a positive compound annual growth rate (CAGR) of +4.2% through to 2028.
As this happens, there will be growth in multiple end-use segments. Simultaneously the sector will provide a forum for sustainable packaging innovations, as a demonstrable commitment to the environment has emerged as a key differentiator between competing cosmetics brands, especially in the clean beauty space.
Packaging innovations will include adoption of mono-material plastic substrates, polymer grades with higher percentages of post-consumer recycled (PCR) resins, more efficient dispensing caps and closures, and wide use of fibre-based packaging, such as premium cartonboard grades and moulded pulp formats.
Highlights: Smithers' Cosmetic Packaging Market Report
- China and the U.S. are by far the leading cosmetics packaging markets. Out of the top 10 countries, India is forecast to grow at the fastest rate during 2023–28, followed by China.
- Skincare is the largest product category within personal care packaging, followed by color cosmetics and hair care.
- Bath and shower products are forecast to grow at the slowest rates, as this category has reached market saturation in many developed states.
- Male grooming products will continue to grow in importance, with Western Europe the largest region. Increased business investment in developing new product lines will boost what remains a relatively small segment globally, including new sales into Asia, the Middle East, and Africa.
