Cosmetic packaging: Key market research findings
- APAC dominates the market geographically
- Plastic packaging accounts for a majority of the market’s revenue
- Key vendors – Albea Group, Silgan Holding, Gerresheimer, RPC Group, and HCP Packaging
Technavio’s market research analysts predict the global market for cosmetic packaging to grow at a CAGR of around 5% between 2016 and 2020. The growth of this market can be accredited to the increasing consumer base of the cosmetic industry. Urbanization and population growth, the rise in disposable income, and an increase in consumer consciousness about personal grooming will drive the demand for personal care products on a global scale. While women represent the majority of the consumer base, the growing popularity of grooming products for men offers opportunities for market growth. During 2015, the global cosmetic packaging market was dominated by APAC with a market share of more than 35%. Increasing disposable income and growing awareness about health and hygiene will drive the demand for cosmetic packaging in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the cosmetic packaging segments based on the material type.
“There is an ongoing rise in the demand for small-sized and unit dose packs in the market. Small unit dose packs are convenient for people who frequently travel as they are permitted to take 100 ml of liquid during the travel. In addition, small packages contain highly concentrated products. Consumers prefer small-sized packaging for convenience and ease of application,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
By 2020, the plastic packaging segment will account for more than 59% of the overall market revenue to become the key revenue generating vertical. Some of the plastic packaging products that are widely used by manufacturers of cosmetics are bottles, jars, squeezable tubes, and containers. In terms of volume, the hair care, deodorants, and personal care segments are the largest contributors to this market. Flexible plastic packaging provides optimum protection from moisture and prolongs the shelf life of products.
The key vendors in the global cosmetic packaging market include Albea Group, Silgan Holding, Gerresheimer, RPC Group, and HCP Packaging. As the market has a huge potential, it is likely to witness growth during the forecast period. Global vendors are continually competing to capture the largest share in the market, with occasional spurts of competition from local vendors.
A more detailed analysis is available in the Technavio report, Global Cosmetic Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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