The global Cosmetic Packaging Market size is anticipated to reach USD 39.32 billion by 2027 owing to the rapidly augmenting beauty industry worldwide. Cosmetic Packaging plays a pivotal role in the marketing of different cosmetics products by drawing the attention of the consumers. More information on the market is provided in a recent report published by Fortune Business Insights™ titled, “Cosmetic Packaging Market Size, Share & Industry Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application Type (Skin Care, Haircare, Make-up, and Nail care), and Regional Forecast, 2020-2027.” According to this report, the market value stood at USD 30.37 billion in 2019 and is poised to register a CAGR of 4.03% between 2020 to 2027.


Market Drivers:
Rise in Beauty Standards to Propel Growth

Various factors promoting the Cosmetic Packaging market growth include a rise in the beauty standards, increasing variety of cosmetics worldwide, and the rising disposable incomes of people. On the contrary, environmental concerns and animal-cruelty cases pose challenges for the market. Nevertheless, the trend of green packaging and conventional packaging solutions with customizable options are expected to create lucrative growth opportunities for the market in the forecast period
Regional Segmentation:

Asia Pacific to Continue Dominance with Rising Disposable Incomes of People

Asia Pacific dominated the Cosmetic Packaging market with a revenue of USD 10.50 billion in 2019 with China holding about three-fifth or more share. China is the second-largest cosmetics market after the U.S. The rapidly increasing disposable incomes of people, coupled with the increasing number of young population are likely to aid in the expansion of the market in this region. The currently trending digital transformation is holding major importance in influencing the young generation to be more inclined towards beauty, thereby increasing the demand for cosmetic products and ultimately boosting the regional market.

On the other side, North America will rank second in the market with the U.S. holding the dominant share owing to the high adoption of green packaging solutions and increasing export relations with the other nations around the world. The market in Europe will also gain traction in the forecast period on account of the gradual switch to post-consumer recycled (PCR) packaging.

Gain More Insights into the Cosmetic Packaging Market Research Report

https://www.fortunebusinessinsights.com/cosmetic-packaging-market-102130


List of Cosmetic Packaging Market Manufacturers Include:

DS Smith
Albea SA
BIG SKY PACKAGING
Berlin Packaging
HCP Packaging
Berry Global
ALPLA Group
Aptar, Inc.
Sealed Air Corporation
Amcor
Other Players
Competitive Landscape:

Fragmented Nature of Market Will Intensify Future Competition

The Cosmetic Packaging market is fragmented in nature with the presence of multiple players. Major players are switching to reused and recycled products, keeping in mind the environmental concerns of waste management and are adopting sustainable packaging solutions.

For instance, the French cosmetics brand L’Oreal has established several designated stores where they accept empty body care product bottles and jars from consumers and further convert them into new packaging used for various community projects. Such initiatives are likely to attract high revenue in the market during the forecast period. Besides this, the players are also engaging in mergers and acquisitions, contracts and agreements, joint ventures, partnerships, and other strategies for gaining a competitive edge in the market during the forecast years.