New York, March 24, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cosmetic Packaging Market – Growth, Trends and Forecasts (2020 – 2025)” – https://www.reportlinker.com/p05867476/?utm_source=GNW
– Increasing consumption of cosmetic products drives the market. Factors such as the rising demand for cosmetic products in emerging countries, growing consumer awareness, changes in consumption patterns and lifestyles, increasing premium on personal grooming, and the increasing awareness of beauty products are driving the investments of companies that develop innovative packaging solutions.
– Moreover, in recent years, the popularity of natural and organic cosmetics has grown substantially as a result of increased awareness of exposure to diseases such as skin cancer, Alzheimers, allergies, and congenital disabilities as synthetic beauty products are laden with chemicals. In the United States, the largest share (around 40%) of the natural and organic beauty products market is accounted for by skincare products.
– Increasing focus on innovation and attractive packaging drives the market. The increasing demand from consumers for practical and user-friendly dispensing solutions and products is prompting cosmetic companies to adopt innovative packaging solutions such as the use of recyclable plastic and compostable and biodegradable plastics. An innovation from Nest Filler showcased the Dial Dual Lip (DDL) that is perfect for lip care products. It is a combination of 2.8ml lip moisturizer and 2.8ml of lip scrub and is used to treat and heal chapped lips.
– Furthermore, companies are also looking to manufacture a natural product that is infinitely recyclable with significant shelf appeal. A 50ml aluminum jar, customized with a clear internal lacquer, from Roberts Metal Packaging was awarded for its suitability for warm damp environments found in the bathroom or shower.
– Growing sustainability concerns challenges the market to grow. Plastic occupies a significant share when it comes to cosmetic packaging and accounts for almost 50% share when it comes to materials used to package cosmetic products. This has become a grave concern due to the plastic containers being non-bio degradable.
Key Market Trends
Skincare to Account for Significant Share In The Market
– Skincare packaging uses a variety of glass and plastic cosmetic jars to suit various packaging needs. The need for packaging for skincare products is on the rise.
– Various skin care brands worldwide are facing increased competition, and the packaging suppliers are offering brands ways to differentiate designs offering convenience, ease-of-use, and advanced capabilities. A wide range of options is available for packaging skincare products, to accommodate different product formats and formulations. Nerd Skincare, for example, uses bottles, tubes, jars, and droppers in glass, plastic, and metal.
– Furthermore, technological encroachments, such as airless skincare packaging and 3-D printing technology, are driving skincare packaging sales. Advanced and most trending printing technologies, such as hot-stamp foil printing and flexo-offset printing, are enabling manufacturers to offer innovative and eye-catching skincare packaging for their cosmetic brands, which overall is growing the cosmetic packaging market.
– Moreover, The UK beauty industry contributed a total of EUR 28.4 billion in 2018 to the nation’s economy. Acquisitions are helping shape the market landscape. For instance, in January 2019, L’Occitane acquired UK-based luxury skincare brand Elemis for USD 900 million. This will enable L’Occitane to strengthen its foothold in the premium skincare sector, hence the market is expected to experience a strong demand for dermatology-based products packaging.
Asia-Pacific to Hold Significant Growth In Market
– Increasing adoption of advanced technologies for cosmetic packaging and growing trends of skincare and beauty products are some of the significant factors driving market growth.
– The cosmetics market in China has been one of the fastest-growing sectors in the last few years, benefitting from an increasingly engaged consumer base. The sale of luxury products in the Chinese market demonstrated significant growth. The luxury products brands such as La Mer, SK-II, CPB, etc., which were once the sole purview of more financially mobile women in their thirties, now appear in the shopping carts of girls in their twenties.
– Moreover, Chinese men have shown a higher demand for skincare products and makeup over the last several years. According to a white paper by TMIC and L’Oréal China Consumer Intelligence Team, e-commerce sales of men’s grooming products have risen by more than 50% during the past two years, symbolizing men have become an emerging consumer group in the Chinese beauty market, thereby augmenting the consumer packaging market.
– Furthermore, in the recent years, makeup and personal care have increasingly become integral parts of the Indonesian lifestyle. Consumers expect the packaging designs to be either trendy or luxurious-looking, as beauty products are evaluated as a social currency that defines their identity and social status. In order to capture this trend, Rollover Reaction designed its packaging to be decked in bold colors yet minimalistic in design.
The cosmetic packaging market is highly competitive and the market comprises several global and regional players. Innovation and ease in deployment and usage, which is leading to end-to-end customer satisfaction through the product, have been the key factors driving the product innovation and strategies among the market players. Key players are Silgan Holdings Inc., DS Smith PLC, etc. Recent developments in the market are –
– Oct 2019 – Albea announced the launch of a global business partnership with a prominent 3D technology innovation start-up, Erpro 3D Factory. This partnership would allow the company and Erpro 3D Factory to offer industrial series of fully-personalized cosmetic packaging solutions, in creative shapes. Erpro 3D Factory’s unique technology most recently used to design innovative 3D mascara brushes for a renowned cosmetic brand, allowing for industrial series in creative shapes that traditional injection moulding does not allow, typically for colour cosmetics packaging, fragrance caps, skincare jars, and more.
– Feb 2020 – Silgan Holdings announced that it has acquired Cobra Plastics Inc. The combination of Cobra’s overcap product line with the aerosol actuators and dispensing systems would allow Silgan to offer a broader range of integrated solutions, including functional overcaps, to meet the unique needs of the customers.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05867476/?utm_source=GNW
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