The global cosmetic packaging market was valued at US$32,469.971 million in 2019 and is anticipated to grow at a CAGR of 4.05% to reach US$42,875.790 million in 2026. The global cosmetic packaging market is expected to propel owing to the growing cosmetic industry with growing preferences for innovative cosmetic products among young men and women worldwide. The rapid urbanization on the global level is fueling the demand for cosmetic products worldwide. Owing to the growing urbanization, consumers are adopting modern living lifestyles, hence, the demand for premium cosmetic products is soaring, propelling the market growth. Additionally, expanding middle-class population has increased the consumer base for cosmetic products, driving the growth of the global cosmetic packaging market. The increasing penetration of e-commerce sales is further augmenting the market demand. However, the growing trend of beauty from within has resulted in the consumption of beauty supplements in the form of dietary supplements and may pose a threat to the market growth during the forecast period. Furthermore, the growing trend towards the adoption of eco-friendly products is offering multiple market opportunities. The introduction of 3D printing in the beauty industry and the growing focus on male grooming cosmetic products are further presenting opportunities for the market to thrive in the market in the coming years.
Impact of Covid-19
The market witnessed a significant decline during the year 2020 owing to the COVID-19 pandemic which resulted in widespread store closures across the globe and major disruptions in the supply chain. The cosmetics industry witnessed weak sales in the initial period from offline channels but showed recovery signs through the online channels in the later half at a slow pace. It is anticipated to recover the prior growth rate in the coming years which will further fuel the market for cosmetic packaging during the forecast period.
Geographically, the Asia Pacific region is anticipated to hold the dominant market share in the global cosmetic packaging market owing to a high consumer base for the purchase of premium cosmetic products with the growing middle-class population of China and India. Europe and North America on the other hand are expected to hold significant market shares owing to the innovative packaging solutions for a wide range of cosmetic products.
The global cosmetic packaging industry is expected to surge during the forecast period owing to the booming beauty industry. The growth in the adoption of cosmetic products is primarily attributed to the increasing interest in cosmetics among many young women worldwide. This is because a considerable population of young women loves to explore a variety of beauty care products available in the market when it comes to their looks, leading to high market demand for these products. Additionally, several independent brands are emerging with new beauty ideas and products, hence, contributing to the growth of the cosmetic industry. Apart from the younger generations, the enthusiasm for cosmetics is also being observed among the adult population leading to an increasing need of providing a range of cosmetics to the adult population of the society as well. Cosmetic solutions such as an instant fix for aging people who desire quick improvements in their skin are quite popular. These products are highly useful in providing instant improvements in eye bags and fine lines in addition to providing skin brightening.
According to the UN statistics, the urban population of the world increased from around 751 million to approximately 4.2 billion from 1950 to 2018. The migration of people from rural areas to urban areas has increased disposable income, which in turn has led to adopting modern living conditions as well. Thus, this has impacted positively on the cosmetics consumption levels, creating a market demand for the cosmetic packaging. Additionally, as a result of the rising urbanization, people can attain a better education and are paid well. In the modern era, such factors have allowed people to be able to pay better attention to their health, personal hygiene, and grooming, thereby, fueling the growth of the global cosmetic packaging market in the coming years.
With time modern consumers are becoming aware that to maintain good skin health, it is necessary to take care of oneself in the form of edible ingredients or nutrients as well, apart from the topical applications. Many times, it has been noticed that customers complain about cosmetics causing rashes or allergies to a particular skin type, while on the other hand, it may not be the case for some other skin type. Hence, to avoid such issues, consumers are moving towards healthier options such as beauty supplements, which are available in the form of dietary supplements and help in boosting beauty from within. Additionally, with the growing consumer awareness regarding physical appearance being positively affected by dietary consumption, a shift towards consumption of dietary supplements such as collagen, medium-chain triglycerides or MCTs, and Vitamin B3 for supporting skin nutrition may have a significant impact on the cosmetic industry and thereby the cosmetic packaging market growth. Examples of some of the key ingredients in beauty supplements include collagen, medium-chain triglycerides or MCTs, and Vitamin B3.
|Market size value in 2019||US$32,469.971 million|
|Market size value in 2026||US$42,875.790 million|
|Growth Rate||CAGR of 4.05% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, Materials, Capacity, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Amcor, Brimar Packaging, Quadpack, Libo Cosmetics, Sonoco Products Company, HCP Packaging, Albea, Cosmopak, Rieke, Gerresheimer AG|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the cosmetic packaging market size by 2026?
A1. The global cosmetic packaging market is anticipated to reach a total market size of US$42,875.790 million by 2026.
Q2. What is the size of the global cosmetic packaging market?
A2. Cosmetic Packaging Market was valued at US$32,469.971 million in 2019.
Q3. What are the growth prospects for the cosmetic packaging market?
A3. The cosmetic packaging market is anticipated to grow at a CAGR of 4.05% during the forecast period.
Q4. Which region holds the maximum market share of the cosmetic packaging market?
A4. The Asia Pacific region is anticipated to hold the dominant share in the global cosmetic packaging market owing to a high consumer base for the purchase of premium cosmetic products with the growing middle-class population of China and India.
Q5. What factors are anticipated to drive the cosmetic packaging market growth?
A5. Owing to the growing urbanization, consumers are adopting modern living lifestyles, hence, the demand for premium cosmetic products is soaring, propelling the cosmetic packaging market growth.
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