Association of wellness with beauty is a major trend driving consumer based products demand in this era. Cosmetics is one prominent sector leveraging this stride and executing unprecedented business. As per an online release by Forbes in 2017, the cosmetics industry was estimated to be worth a staggering $445 billion in terms of sales revenue. Cosmetic packaging market as an imperative subset of blooming cosmetics industry is catapulting enormous demand under its domain. Being an essential component of cosmetics in terms of protection, creation of brand awareness, advertising appeal, extension of shelf life and labeling of information, cosmetic packaging market size has ascended towards $25.5 billion as of 2018. E-commerce has facilitated an upsurge of cosmetic sales by adding a supplementary virtual retail counter for products and proficient packaging is a necessity for such operations. This is among the major factors are compelling the cosmetic packaging market to be progressing at a compound annual growth rate (CAGR) of 4.5% during the forecast period of 2019 – 2025.
Cosmetic packaging market employs various resources such as plastic, glass, metal and paper as packaging materials for manufacturing packaging equipment, for instance, cosmetic containers, cosmetic bottles, cosmetic jars, sticks, pumps & dispensers, pen types, roller balls, and caps and closures. Glass cosmetic packaging is losing its affluence to plastic packaging, owing to multiple benefits offered by plastic such as low cost, lightweight, flexible, shatterproof, sturdy, odorless, pleasing appearance and appropriate for graphic and color printing. Moreover, acrylic plastic can mimic the appearance of glass without being fragile.
Further inspecting the regional cosmetic packaging market share, North America is estimated to be the foremost region as of 2018. This area with the largest global economy, the United States, is accountable for generating 35% of the global cosmetic packaging demand. As per the United States Census Bureau 2010, younger working-age population, ages 18 to 44, represented 36.5% and older working-age population, ages 45 to 64, and represented 26.4% of the total population. Nearly 57% of total population working with increasing disposable income and the majority of them below 44 years of age, spontaneously stand out as potential customers for cosmetics. Apart from local customers, United States holds the apex spot in terms of cosmetic products exports to Korea (8th largest cosmetic products market in the world). Thus owing to its local demand and export demand of cosmetics, North America holds a substantial share of the global cosmetic packaging market size.
In terms of application, the cosmetic packaging market is predominantly composed of hair care, skin care, nail care and make-up. While most of the skin care, nail care and make-up products are oriented towards feminine application, hair care is a segment targeting both the sexes. Due to this phenomenon hair care products leads the application segment, progressing with an application CAGR of 5.5% going through 2025. American Hair Loss Association states that by the age of 50, 85% of men have significantly thinner hair. Thus hair care primarily dominates the cosmetic packaging market share.
Novel innovations in material and printing technology have unlocked numerous design trends for cosmetic packaging. Market players are applying polypropylene films for finest cosmetic packaging where biaxially-oriented polypropylene (BOPP) are favored as customary cosmetics packaging material. Since its inception, 3D printing technology has being adopted by the cosmetic packaging manufacturers globally as it provides aesthetic feasibility to the product, and is commonly employed to package cosmetics, fragrances, and shampoos.
Cosmetics industry in the past few decades has been witnessing a diversion from being recalled as a feminine oriented products base towards a sector serving all the genders hence the entire global population standing out as potential customers. With the inception of male users of cosmetics, the industry is witnessing an unprecedented business. The argument can be well supported by a data sheet by IBEF (India Brand Equity Foundation), stating that men who fall in the age group of 18 to 25, spend more money on grooming and personal care products than women in India. It also states that about 25-30 % of the total salon business comes from men’s treatment.
Since there is no substitute for cosmetic packaging, the sector appears as an unparalleled, unchallenged and inevitable arcade. But the only limitation faced by the cosmetic packaging market is its direct dependence on the parent market, that is, the manufacturing of cosmetic packaging products is directly proportional to the cosmetic industry. However, a failing cosmetic market in this era of aesthetic feasibility being utmost important for individuals, is way beyond the analytical faculty of our grey matter.
Some of the key companies identified in the report that are currently holding majority shares in the cosmetic packaging market are Albea Group, HCP Packaging, RPC Group, Gerresheimer Holdings, Silgan Holdings, ABC Packaging, Aptar Group, Bemis, Arexim Packaging, and DS Smith.
HCP Packaging, a leading market player in the design, improvement and production of premium quality primary packaging containers for the cosmetics, skincare and perfume industries acquired USI Cosmetic GmbH & Co. KG, a leading European companies in the cosmetic packaging industry in 2017. This 100% of stake acquirement will help HCP being the global leader in the context of mascara solution provider.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the cosmetic packaging market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various materials in cosmetic packaging market, and their specific advantages.
The Cosmetic Packaging Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia
1. Is the market for the cosmetic packaging growing? How long will it continue to grow and at what rate?
2. Which type of systems presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What are the short-term, long-term, and medium-term growth drivers for the market?
7. What are the short-term, medium-term, and long-term challenges for the market?
8. What are the short-term, medium-term, and long-term opportunities for the market
9. Who are the top players/companies of the market?
10. What are the recent innovations in the market?
11. How many patents have been filed by the leading players?
12. What are the types of patents filed by the leading players?
13. What is our Vision 2030 for cosmetic packaging Market?
• Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
• Provide an overview of the product portfolio, including product planning, development, and positioning
• Discuss the role of technology companies in partnerships
• Explore the regional sales activities
• Analyze the market size and giving the forecast for current and future cosmetic packaging during the forecast 2019–2025
• Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.