Growth Of The Cosmetic Packaging Market Is Accelerated By Sustainable And Recyclable Packaging Materials

cosmetic packaging market 

 Cosmetic packaging plays a vital role in protecting products from environmental factors and preventing damages. Packaging not only enhances the aesthetic appeal but also facilitates easy dispensing and transportation of cosmetic products such as skin care, hair care, fragrances, and makeup. Materials used in cosmetic packaging include glass, metal, paper, and plastic.

The global Cosmetic packaging market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Sustainable and recyclable packaging materials are gaining widespread acceptance in the cosmetic packaging industry due to mounting environmental concerns. Brand owners and manufacturers are increasingly focusing on using packaging materials that reduce environmental footprint. Bioplastics consisting of renewable and compostable materials are emerging as sustainable alternatives to petroleum-based plastics. Cosmetic companies are launching packaging made from trees, seaweed, and other plant-based sources to promote their brands' sustainability image. The trend of sustainable packaging is expected to accelerate the cosmetic packaging market growth over the forthcoming years.

Segment Analysis

The global cosmetic packaging market is dominated by plastic sub-segment. Plastic is the preferred material for cosmetic packaging as it is lightweight and cost-effective. It can be easily molded into various shapes and sizes as per the product requirements. Moreover, plastic provides good barrier protection against moisture, oxygen, and other external contaminants, thus maintaining the quality and prolonged the shelf-life of cosmetic products.

Key Takeaways

The global cosmetic packaging market analysis is expected to witness high growth over the forecast period of 2023 to 2030. Rapid urbanization, rising working women population, and increasing spending on personal grooming are some of the key factors driving the demand for cosmetics. As cosmetic packaging plays a vital role in branding and marketing of cosmetic products, the demand for innovative and attractive packaging solutions is also growing globally.

Regional analysis

The Asia Pacific region currently dominates the global cosmetic packaging market and is expected to maintain its leading position during the forecast period. This can be attributed to changing lifestyles, improving consumer purchasing power, and aggressive marketing strategies adopted by domestic as well as international cosmetic brands in countries like China, India, Japan, and South Korea.

Key players

Key players operating in the cosmetic packaging market are Aptar Group, Inc., RPC Group Plc, Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, Quadpack Industries, HCP Packaging, Fusion Packaging, and ABC Packaging Ltd. Aptar Group, Inc. and RPC Group Plc are recognized as the market leaders due to their extensive product portfolio and global presence.

Get more insights on this topic: https://www.newswirestats.com/cosmetic-packaging-market-industry-insights-trendscosmetic-packaging-market-2023-2030/

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