Cosmetic Packaging Market Size Worth $46 Billion By 2030: IndustryARC
Research Reports
Oct 04, 2023
Cosmetics Packaging Market size is estimated to reach $46 billion by 2030, growing at a CAGR of 3.8% during the forecast period 2023-2030, according to the latest market research report published by IndustryARC. Increasing demand for airless packaging, sustainable and eco-friendly packaging solutions and refillable/reusable packaging is poised to propel market growth, finds IndustryARC in its recent report titled “Cosmetic Packaging Market (2023-2030)”
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Cosmetic Packaging Market Report – Key Takeaways & Market Opportunities
Pumps and Dispensers to Register Highest Growth
Cosmetic Packaging in the form of Pumps and Dispensers is analyzed to grow with the highest CAGR of 4.6% during the forecast period 2023-2030. This type of packaging offer convenience to consumers, allowing them to dispense the desired amount of product with ease. Pumps and dispensers use an airless technology that also allows for the use of preservative-free formulations, as they reduce the risk of contamination.
Burgeoning Opportunities for Sustainable and Eco-friendly Packaging
Consumers demand products that are packaged with minimal waste as they become more environmentconscious and planet friendly. Reusable, recyclable and refillable types of packaging are the concept that cosmetic product manufacturers are increasingly adopting which includes eco-friendly raw materials such as glass, paper, bamboo and so on.
For example: In February 2022, L’Oréal announced its plans to launch paper-based cosmetic tubes made from FSC-certified paper. The company aims to have 50% of its plastic packaging be made from recycled orbio-sourced materials by 2025. Such preference by the cosmetic product manufacturers opens the door to opportunities for the packaging companies to produce more environment-friendly jars, containers, bottles, tubes and other packaging materials.
E-Commerce Emergence has Propelled Market Growth
The recent increase in e-commerce and internet usage in both urban and rural areas has also had an impact on the demand for cosmetics. E-commerce has provided a new channel for cosmetics packaging companies to reach customers directly. For instance, 97% of Glossier Inc.’s total sales in the United States are made online and businesses have also moved their sales to online platforms as a result of rising internet usage.
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Smart Packaging has Great Potential in Taking Over the Market
Smart packaging is an emerging trend in the cosmetics packaging industry which uses sensors, QR codes, and other technologies to enhance the consumer experience and provide more information about the product. One example of smart packaging in the cosmetics industry is packaging with built-in NFC (Near Field Communication) chips. NFC-enabled packaging can be scanned with a smartphone, providing consumers with additional information about the product, such as ingredients, usage instructions, and expiration dates. This technology can help to improve transparency and build trust with consumers.
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The Report also Covers the Following Areas:
Cosmetic Packaging Market Size and Forecast
Cosmetic Packaging Market Trends
Cosmetic Packaging Analysis by Product Type
Cosmetic Packaging Market 2023-2030: Key Highlights
CAGR of the market during the forecast period 2023-2030
Value Chain Analysis of key stakeholders
Detailed Analysis of market drivers and opportunities during the forecast period
Cosmetic Packaging Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments,
and financials
Comprehensive Analysis of challenges and constraints in the Cosmetic Packaging Market
COVID-19 and Ukrainian Crisis Impact:
The COVID-19 pandemic has caused a sudden worldwide shutdown of manufacturing operations, which impacts the creation and processing of plastics due to the global economic crisis caused by the Covid pandemic. The closure of distribution facilities such as supermarkets and hypermarkets, convenience stores, and specialty stores has reduced the demand for cosmetics. This had a significant impact on the cosmetic packaging business.
Furthermore, the COVID-19 pandemic has caused a shift in consumer preferences toward the purchasing of cosmetics, pushing the desire for safer goods with higher integrity. As a result, there is a significant demand for cosmetic items that are packaged to lower the danger of contamination and provide an extended shelf life.
The effects of the Ukrainian War are negatively impacting the global cosmetics industry. The Ukrainian cosmetics industry has been hit hard by Russia’s invasion, forcing many producers to halt production and close their businesses. Manufacturers are suffering a supply problem due to a lack of resources and deliveries in Ukraine and major brands and stores have also discontinued their operations in Russia due to which the entire packaging environment is impacted by the Russia-Ukraine conflict. Furthermore, Russia was one of the leading providers of skin care goods to the beauty sector which adversely affected the cosmetic packaging industry.
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List of Key Market Players in the Cosmetic Packaging Market:
The Global Cosmetics Packaging Market is fragmented with several global and regional companies operating with
expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed
below:
1. Amcor PLC
2. Albea SA
3. Berry Global Inc.
4. Sonoco Products Company
5. HCP Packaging
6. DS Smith PLC
7. Sealed Air India Pvt Ltd.
8. Alpha Group Co., Ltd.
9. AptarGroup, Inc.
10. Berlin Packaging
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