Cosmetic Packaging Market Size, Share & Industry Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application Type (Skin Care, Hair Care, Make-up and Nail care), and Regional Forecast, 2020-2027

This report covers COVID-19 impact analysis on Cosmetic Packaging Market

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Cosmetic Packaging plays a pivotal role in the marketing of various cosmetics products by drawing the consumer attention. Various graphical and packaging designs are a key to make the Cosmetic Packaging look appealing. This includes both primary as well as secondary packaging. Generally, paper & board based packaging is used for secondary packaging purposes due to the ease of processing and scope of customization as per needs.     

MARKET TRENDS

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‘Green’ is the New Packaging Trend

The demand for eco-friendly cosmetic packaging solutions is substantially increasing with increasing consumer awareness towards environment. Customers have become more conscious in choosing packaging and products that endorse eco-friendly or ‘green’ packaging solutions. As a result, green packaging is no longer a fringe to the industry and manufacturers are buckling up to increase the amount of green packaging solutions in this industry. This transformation is driven by the outrage amongst consumers, as the hazards of conventional packaging are being reported. Moreover, law-makers are keen on the implementation of stringent environmental norms which is compelling packaging manufacturers to adopt and invent green packaging solution for various industries.

MARKET DRIVERS

Increasing consumption of cosmetics products is bolstering the Cosmetic Packaging Market growth  

Cosmetics market is rapidly increasing its footprint in the developing countries and as a result the demand is also increasing. The rising disposable income and increasing consumer consciousness towards beauty and cosmetics products are the primary factors driving the demand for cosmetic products. Consumers have also become more open to the adoption of cosmetics as number of green, organic and cleaner products are making their way out in the market. In addition, brands are also intelligently branding their products to attract more and more consumers. Besides this, digital transformation has also opened the new avenues of growth in the market as social influencers are reaching out to more customers. The digital transformation has also increased the competition in specialized and customized Cosmetic Packaging space, as small cosmetic manufacturers adopt these solutions to gain recognition and an upper hand over big players to attract a segment of customers to their products.

Necessity for Shelf-life extension of cosmetics products demands the adoption of Cosmetic Packaging

Most of the cosmetics products are temperature and sunlight sensitive, which create a necessity for efficient and smart packaging solutions for the cosmetic products, as per requirement without compromising with the design and attractiveness. Shelf-life of cosmetic products greatly depends on the material of packaging and the cosmetic formulation. Packaging material is chosen according to its formulation compatibility as well as customer needs. Typical shelf-life of cosmetic products vary between 1-3 years and it is important to prolong the shelf-life as these products. These products are transported over long distances and may remain in inventories and unsold in shops for a long period of time.   

MARKET RESTRAINT

Rising environmental concerns and implementation of stringent norms to hinder the market growth

Plastics are the most widely used packaging material in this industry and most of it is dumped into landfills. According to EPA (United States Environmental Protection Agency), approximately 70% of the plastic waste generated by the cosmetics market is not recycled, leading its way to the landfills. Moreover, most of the primary packaging are made of single use plastics and a significant number amongst them are multilayered to make them look premium, which adds to the excessive wastage of plastics. Further, it was found that micro beads, small plastic particles that are added to exfoliate in rinse-off personal care products, causing serious damage to the marine environment and other water bodies.

As a result, in 2014 Personal Care Products Council (PCPC) announced phase-out of micro beads in the U.S. and same action was taken in Europe in 2015. As of today many countries have banned the use of micro beads in cosmetics. These countries include Taiwan, UK, France, Canada, New Zealand, Italy, Sweden, South Africa and many others. This showcases the increasing awareness on the usage of plastics in formulations as well as packaging across the world and changing consumer preferences.

SEGMENTATION

By Material Analysis

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Glass Packaging to Continue its Dominance in Terms of Revenue

Glass Packaging accounts for a significant share in the cosmetic packaging market owing to its relatively high cost as compared to other packaging materials and the high adoption in luxury packaging segment. Glass provides a premium look to the product and is also considered to be an eco-friendly packaging solution as it can be easily recycled. Furthermore, materials such as paper & board and metal are expected to witness slight high growth in terms of volumes and value over plastics, as a result of changing consumer preference. Paper & board based packaging is the fastest growing segment. Hot stamping and lamination added significantly to the luxury appeal offered by paper based secondary packaging.

By Application Type Analysis

Skin-Care Products Consume the Highest Number of Cosmetic Packaging

Skin-Care products account for a majority of the market on a global level due to high adoption of skin care products in Asia-Pacific, Europe and North America. However, in Latin America and Middle East & Africa regions, this packaging is prominently used for make-up products. The increasing penetration of multi-purpose skin-care products such as face creams, moisturizer, and others have driven the growth of Cosmetic Packaging in skin-care application type. The adoption of Hair care products is rapidly increasing in emerging economies such as India and China, which is set to increase the market in Haircare segment.  

REGIONAL ANALYSIS

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The market of Cosmetic Packaging in Asia-Pacific stood at USD 10.50 Billion in 2019, with China accounting for more than three-fifth of the market. China is the second-largest cosmetics market after United States. The rapid increase in disposable income, coupled with the rising number of young population is expected to boost the consumption of cosmetic products both the country as well as the region. Digital transformation is significantly fueling market growth in the region as social-media influencers’ have better ways to reach out to young population and influence them over social media platforms. The growing environmental awareness amongst youth has also surged the adoption of sustainable and green packaging solutions such as wooden designer packaging (especially bamboo), paper & board and glass. However, the outbreak of COVID 19 pandemic is estimated to decline the market by 1.04% over the year 2019 in Asia-Pacific region.

North America ranks second in the market, highly dominated by the United States. The US is the largest producer of cosmetics and cosmetic packaging in the world. It exports high volumes of cosmetic products in most parts of the world. The producers in the region are also opting for green packaging solutions as well as natural products. Similarly, consumers in the European region are also opting for sustainable packaging solutions. The consumers in the region are switching to post-consumer recycled (PCR) packaging and so the cosmetics manufacturers are in the front-line to adopt PCR plastic packaging in their products wherever possible. The outbreak of COVID 19 is expected to decline the market size in 2020. Middle East & Africa is also one of the important markets for this industry. Customers in the region consume high amount of products, particularly luxury products, driven by the high incomes in the developed countries of Middle East such as Saudi Arabia and the UAE. Brazil ranks third in the global market after US & China, and leads the market in Latin American region. Make-up application type accounts for major share in the regional market, due to high usage of make-up products in the region.

KEY INDUSTRY PLAYERS

Key Players are Determined to Create Circular Economy for Better Revenue Generation

The competitive landscape of the market depicts a fragmented market on the basis of number of manufacturers. Varieties of packaging materials are offered by these manufacturers and are open to customization as per customer requirements due to high competition in the market. However, by keeping a close eye on changing consumer preferences, the players are focusing on the development of circular economy by switching to recycled products, reuse of products and adopting more sustainable packaging solutions. For instance, in November 2019, BIG SKY PACKAGING, a US based manufacturer of sustainable packaging products, launched Kinship packaging solution that deals with PCR materials. Additionally, in January 2020, the company introduced FSC certification (Forest Stewardship Council) to support its dedication to provide its customers responsibly sourced paper products. L’Oreal, a French cosmetics brand, has taken several measures to recycle its product packaging. In Australia, it has established designated stores, where, customers can return emptied bodycare containers. These are then converted into new packaging or used in community projects.

LIST OF KEY COMPANIES PROFILED:

• Amcor


• Sealed Air Corporation


• ALPLA Group


• Aptar, Inc


• HCP Packaging


• Berry Global


• Berlin Packaging


• Albea SA


• BIG SKY PACKAGING


• DS Smith


• Others

KEY INDUSTRY DEVELOPMENTS:

• June 2019 – Amcor, a key player in packaging industry headquartered in Australia, successfully completed the acquisition of Bemis Company, a manufacturer of packaging solution headquartered in United States. Bemis has around 50 facilities across the world and Amcor Ltd, will significantly benefit with the acquisition, strengthening its manufacturing and supply capabilities.


• February 2020 – Aptar. Inc, a manufacturer of packaging solutions serving in number of industries headquartered in United States, announced the signing of binding agreement to acquire Fusion Packaging I, L.P. (FusionPKG), a key player in turnkey solutions for the beauty market. This is expected to strengthen the Aptar’s position in Cosmetic Packaging industry.

REPORT COVERAGE

The cosmetic packaging market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market, current trends, and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

An Infographic Representation of Cosmetic Packaging Market

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