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Cosmetic Packaging Market Trends

ID: MRFR//1246-CR | 125 Pages | Author: Harshita Gorade| April 2024

Global Cosmetic Packaging Market Overview

Cosmetic Packaging Market Size was valued at USD 55,729.9 million in 2023. The Cosmetic Packaging industry is projected to grow from USD 58070.6 million in 2024 to USD 78,637.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.9% during the forecast period (2024 - 2032). The Cosmetic Packaging Market continues its growth, driven by evolving consumer preferences, innovation in materials, and sustainable packaging solutions. Key drivers propelling market growth include the surge in beauty and personal care products, heightened emphasis on eco-friendly packaging, and the advent of premiumization in the cosmetics industry. Asia-Pacific remains a dominant region, owing to the burgeoning middle-class population and increasing disposable incomes. The Cosmetic Packaging Market is poised for sustained growth, fueled by consumer demand for novel packaging solutions, eco-friendly alternatives, and the convergence of technology and design, offering ample opportunities for market expansion and innovation.

Figure 1: Cosmetic Packaging Market Value (USD Million)

Cosmetic Packaging Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Cosmetic Packaging Market Trends

  • Growing Demand for Premium and Luxury Cosmetics Products is Driving the Market for Cosmetic Packaging Industry

The cosmetic packaging market is currently undergoing a significant surge, largely fueled by the escalating demand for premium and luxury cosmetics. This surge is attributed to consumers' growing inclination towards indulgence and a pursuit of quality in their beauty products. Notably, consumers are increasingly gravitating towards premium beauty items that not only promise superior formulations but also boast aesthetically appealing and innovative packaging. The nexus between premium products and high-quality packaging stands out as a critical market driver, as brands vie to create a holistic sensory experience that extends beyond the cosmetic product itself. In this competitive landscape, packaging emerges as a pivotal element in brand differentiation and fostering consumer loyalty. The allure of luxurious packaging plays a pivotal role in shaping positive consumer perception, exerting a tangible influence on purchasing decisions. Recognizing this, brands are strategically investing in sophisticated materials, intricate detailing, and exclusive designs to meet the discerning expectations of consumers in the premium cosmetics segment. The willingness of consumers to pay a premium for products packaged with sophistication and innovation acts as a driving force propelling the cosmetic packaging market forward.

This trend reflects not only a consumer preference for indulgence but also poses a challenge to packaging manufacturers to continually innovate. The dynamic interplay between product quality, aesthetics, and packaging innovation is evident in the beauty industry as companies strive to meet the evolving expectations of discerning consumers. Therefore, the market is witnessing a continual push of boundaries in terms of creativity and functionality in response to the demand for premium and luxury cosmetic packaging. Ultimately, this symbiotic relationship between product quality, visual aesthetics, and packaging innovation underscores the transformative dynamics shaping the cosmetic packaging market in its endeavor to meet the ever-evolving desires of consumers.

Cosmetic Packaging Market Segment Insights

Cosmetic Packaging Market Based on Material Segment Insights

Based on material, the Cosmetic Packaging Market has been segmented plastic, metal, paper & paperboard, glass, and others. In 2022, the plastic segment of the Cosmetic Packaging Market is expected to drive the market by holding a substantial market share with a market value of USD 25,327.3 million. It is projected to register the highest 5.8% CAGR among the material segment during the projected period. Plastics are widely used in cosmetic packaging due to their versatility, durability, and cost-effectiveness. Various types of plastics are employed for different cosmetic products based on their specific requirements. Polyethylene Terephthalate (PET) is a clear, lightweight, and impact-resistant plastic commonly used for bottles, jars, and tubes. It is known for its excellent barrier properties, making it suitable for packaging products that are sensitive to moisture and oxygen. Companies are launching cosmetic products using various material packaging like PET, PP, PVS, etc. For example, Brivaplast announced a brand new mascara -CLEAR ARROW APP520 brush that is made from a post-consumer-recycled material. This new fiber material is 65 % made from post-consumer PET-water bottles, FDA compliant and an excellent addition to our sustainable solutions. High-Density Polyethylene (HDPE) is a durable, rigid, and opaque plastic often used for bottles, tubs, and containers. It is known for its resistance to chemicals and high impact strength, making it ideal for packaging products that require a strong barrier against external factors. Low-Density Polyethylene (LDPE) is a flexible, squeezable, and translucent plastic frequently used for tubes and bottles. It is known for its softness and elasticity, making it suitable for packaging products that require dispensing through squeezing. Polypropylene (PP) is a strong, heat-resistant, and translucent plastic often used for caps, closures, and containers. It is known for its excellent chemical resistance and ability to withstand high temperatures, making it suitable for packaging products that are sensitive to heat or chemicals. Polyvinyl Chloride (PVC) is a versatile, clear, and durable plastic often used for blister packs and tubes. It is known for its ability to shape into various forms and its resistance to moisture and chemicals. PVC is not as widely recyclable as other plastics and may raise concerns about environmental impact. The choice of plastic material for cosmetic packaging depends on various factors, including the product's properties, packaging requirements, sustainability goals, and cost considerations.

Cosmetic Packaging Market, Product Insights

Based on Product, the Cosmetic Packaging Market has been segmented tubes, bottles, palette, stick, jars & tubs, blister &, strip packs, folding cartons, aerosol can, and others. In 2022, the tubes segment of the Cosmetic Packaging Market is expected to drive the market by holding a substantial market share with a market value of USD 9,151.0 million. It is projected to register the highest 5.7% CAGR among the material segment during the projected period. Tubes are used in the cosmetic packaging market due to their versatility, convenience, and ability to protect product integrity. Aluminum tubes are known for their durability and barrier properties, making them ideal for products that are sensitive to light or air. They are also recyclable. Plastic tubes are lightweight, inexpensive, and easy to customize with printing and decoration. They are available in a variety of resins, each with its own unique properties. Laminated tubes combine the strength and barrier properties of aluminum with the flexibility and printability of plastic. They are often used for high-end cosmetic products. Tubes are ideal for packaging skincare products such as lotions, creams, gels, and cleansers. They provide a controlled dispensing mechanism that prevents product contamination and ensures the product is applied evenly. Tubes are also popular for packaging haircare products such as shampoos, conditioners, and styling gels. The squeezable nature of tubes makes it easy to dispense the product directly onto the hair, scalp, or hands. Tubes are used for a wide range of makeup products, including foundations, concealers, mascaras, lipsticks, and lip glosses. The airtight seal of tubes helps to preserve the freshness of makeup products and prevent them from drying out. In addition to cosmetics, tubes are also used for packaging personal care products such as hand sanitizers, sunscreens, and moisturizers. The portability of tubes makes them convenient for carrying these products on the go. For example, Berry Global has created a lightweight tube closure solution that blends modern style and material adaptability with greenhouse gas emission reduction. The new Slimline collection, which complements Berry's vast range of tube closures, saves greenhouse gas emissions compared to standard caps due to a new lightweight and low-profile design.

Figure 2: Cosmetic Packaging Market, by Product, 2023 & 2032 (USD Million)

Cosmetic Packaging Market, by Product, 2023 & 2032

Cosmetic Packaging Market by Application Industry Insights

Based on Application, the Cosmetic Packaging Market has been segmented into skincare, fragrance, color cosmetics, and others. In 2022, the skincare segment of the Cosmetic Packaging Market is expected to drive the market by holding a substantial market share with a market value of USD 19,765.6 million. The skincare application for cosmetic packaging market is the largest and fastest-growing segment of the Cosmetic Packaging Market. This is due to the increasing demand for skincare products, particularly among millennials and Gen Z consumers. Skincare products are also becoming more sophisticated and specialized, which is driving demand for innovative and functional packaging solutions. Cosmetic packaging plays a crucial role in the skincare industry, serving multiple purposes beyond simply containing products. It acts as a silent salesperson, influencing consumer perception, brand image, and purchasing decisions. Effective skincare packaging should not only protect the product's integrity but also enhance its aesthetic appeal and functionality. Primary packaging is the innermost layer that directly encloses the skincare product. It must be compatible with the product's formulation, ensuring product stability and preventing contamination. Common primary packaging materials for skincare include plastic, glass, metal, among others. Secondary packaging provides additional protection and enhances the product's presentation. It often serves as a marketing tool, communicating brand identity and product information to consumers. Common secondary packaging materials include boxes, cartons, etc. Companies are all investing in innovation and product development to meet the growing demand for skincare packaging. They are also expanding their global presence to reach new markets. The future of skincare packaging is bright. The market is expected to continue to grow and evolve in the coming years, driven by the increasing demand for skincare products and the growing awareness of sustainability.

Cosmetic Packaging Market Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific Cosmetic Packaging Market accounted for largest market share in 2022 and is expected to exhibit a significant CAGR growth during the study period. The growth of the Asia-Pacific Cosmetic Packaging Market industry with the growth of population and the rising per capita disposal income is anticipated to drive the Asia-Pacific Cosmetic Packaging Market in this region during the forecast period. In addition, Asia Pacific countries exhibit the fastest economic growth rates worldwide. Therefore, the Asia-Pacific region is expected to be a significant market propelling the global Packaging industry, with augmented Packaging activities in China, India, Japan, Australia and rest of Asia Pacific countries.

Figure 3: Cosmetic Packaging Market, by Region, 2023 & 2032 (USD Million)

Cosmetic Packaging Market, by Region, 2023 & 2032

The North America region includes major markets such as the US, Canada, and Mexico. . The U.S. has a large and sophisticated consumer base with a high demand for cosmetic and beauty products, influencing packaging trends. Continuous innovation in packaging designs, materials, and technologies to meet the evolving preferences of consumers. Growing emphasis on sustainable packaging, leading to increased adoption of eco-friendly materials and practices. Canada's cosmetic packaging market is also experiencing growth, albeit at a slightly different pace compared to the U.S. Stringent regulations regarding packaging materials and labeling influence packaging choices in the Canadian market. The rise of e-commerce in the beauty industry has influenced packaging strategies to enhance the online shopping experience. Mexico is an emerging market for cosmetic packaging, and several factors contribute to its growth. A growing middle class with increasing disposable income is driving the demand for cosmetic products and, subsequently, their packaging. Integration into global markets has exposed Mexican consumers to a wide range of beauty products, impacting packaging preferences.

Across North America, there is a growing trend towards sustainable packaging solutions, including recyclable materials and reduced environmental impact. Brands are investing in customized and aesthetically pleasing packaging to differentiate themselves in a competitive market. Integration of digital technologies, such as QR codes and augmented reality, to enhance consumer engagement and provide additional information about products. In conclusion, the cosmetic packaging market in North America, including the U.S., Canada, and Mexico, is dynamic and influenced by factors such as consumer preferences, regulatory landscapes, and sustainability considerations. As the beauty industry evolves, packaging manufacturers are likely to adapt to emerging trends to remain competitive in this market.

Cosmetic Packaging Market Key Market Players & Competitive Insights

With a strong presence across different verticals and geographies, the Cosmetic Packaging Market is highly competitive and dominated by established, pure-play vendors. Many vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting innovative technologies and innovations to make rapid lubrication filters more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Cosmetic Packaging Market is highly competitive, with many vendors offering similar products and services. The major players in the market include Brivaplast, Induplast, Lumson, Geka, Albea, Quadpack, HCP Packaging, MYC Packaging Co. Ltd., Toly, Aptar, Pinard, HCT, Cosmospacks, Berry Global, Cosmogen, and Libo The Cosmetic Packaging Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Cosmetic Packaging Market include.

  • Brivaplast

  • Induplast

  • Lumson

  • Geka

  • Albea

  • Quadpack

  • HCP Packaging

  • MYC Packaging Co. Ltd.

  • Toly

  • Aptar

  • Pinard

  • HCT

  • Cosmospacks

  • Berry Global

  • Cosmogen

  • Libo

Cosmetic Packaging Market Industry Developments

In September 2023, Berry Global's launch of food-grade low-density polyethylene (LLDPE) films containing at least 30% (PCR) post-consumer recycled plastic underscores the company's commitment to include recycled content in its packaging.

In July 2023, Quadpack’s Duetto Jar is a monomaterial solution for two-in-one routines. A duet is a musical composition for two performers of equal importance. The same goes for Duetto Jar from Quadpack. Its double-chamber design allows two star formulas to shine together. The jar holds two different creams separately in 40ml compartments, making it ideal for mask sets, night and day creams, travel essentials or any other dynamic duo of products. The monomaterial container is made entirely of PP, ensuring compatibility with the majority of skincare formulas on the market.

In July 2023, The 360-Degree Sustainable Beauty Development Platform has been launched by Toly. Toly presents itself as a 360-degree platform for beauty development, encompassing all of the services it provides as well as the amazing advantages it offers makeup and cosmetics companies who work with them. An ecosystem of all things, a beauty development platform links manufacturers, service providers, and beauty brands so they can work together, share ideas, and turn thoughts into real goods.

Cosmetic Packaging Market Segmentation

Cosmetic Packaging Market Material Outlook (USD Million, 2018-2032)

  • Plastic

  • Metal

  • Paper & Paperboard

  • Glass

  • Others

Cosmetic Packaging Market Product Outlook (USD Million, 2018-2032)

  • Tubes

  • Bottles

  • Palette

  • Stick

  • Jars & Tubs

  • Blister & Strip Packs

  • Folding Cartons

  • Aerosol Cans

  • Others

Cosmetic Packaging Market Application Outlook (USD Million, 2018-2032)

  • Skincare

  • Fragrance

  • Color Cosmetics

  • Others

Cosmetic Packaging Market Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • UK

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Middle East and Africa

    • Saudi Arabia

    • UAE

    • South Africa

    • Rest of Middle East and Africa

  • South America

    • Argentina

    • Brazil

    • Rest of South America

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