Research Nester published a report titled “Cosmetic Packaging Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global cosmetic packaging market in terms of market segmentation by material, product, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global cosmetic packaging market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2023-2033. The market is segmented by application into hair, nail, and skincare. Among these, the skin care segment is anticipated to garner the largest revenue by the end of 2033. The increasing usage of antiaging creams is expected to drive demand for cosmetic applications, driving segment growth during the forecast period. In 2020, 60% of Americans used anti-aging creams, as per the observations.
The global cosmetic packaging market is estimated to garner a revenue of USD 60 billion by the end of 2033, up from a revenue of USD 49 billion in the year 2022. Growing demand for eco-friendly, organic, and clear products is one of the major factors anticipated to drive the growth of the market during the forecast period. For instance, two-thirds of consumers prefer to pay more than 10% for sustainable products.
Geographically, the global cosmetic packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Out of these, the market in the Asia Pacific region is projected to garner the largest revenue by the end of 2033. The introduction of different types of products is expected to drive the regional market during the forecast period.
Additionally, the rising adoption of consumers for the benefits of beauty products including wrinkle-free, and anti-tanning solutions is expected to fuel the regional market during the forecast period. As per the estimations, the imported value of beauty products was USD 60,930,716 as of 2021.
Elevating E-Commerce Sales of Products to Drive the Market Growth
As the pandemic and lockdown locked people at home, everything became online. This changed consumer behavior in many ways and more began to avoid outdoor shopping and instead preferred online purchasing. All these factors are estimated to upsurge the market growth during the forecast period. The worldwide personal care products e-commerce sale in the U.S in 2021 was USD 55 billion.
However, regulations of the government on plastic use and the high cost of cosmetic products are expected to operate as key restraints to the growth of global cosmetic packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global cosmetic packaging market which includes company profiling of Libo Cosmetics, Amcor Limited, Berry Global Inc., Sonoco Products Company, Albea Services S.A.S, HCP Packaging UK Ltd, AptarGroup, Inc., Huhtamaki Oyj, A-B-C Packaging Machine Corporation, and Bemis Manufacturing Company.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cosmetic packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
