"We Envision Growth Strategies Most Suited
to Your Business"
The global Cosmetic Packaging market size is poised to reach USD 39.32 billion by 2027 on account of the rise in beauty standards around the world. Cosmetic packaging plays an important role in the marketing and advertising of the brand. Various tactics are used for making the packaging of cosmetic products attractive and appealing. A recent report by Fortune Business Insights™ offers an elaborate overview of the market and its prime trajectories. As per the report titled, “Cosmetic Packaging Market Size, Share & Industry Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application Type (Skin Care, Haircare, Make-up, and Nail care), and Regional Forecast, 2020-2027,” the market value stood at USD 30.37 billion in 2019 and is anticipated to exhibit a CAGR of 4.03% between 2020 and 2027.
Novio Packaging and Berlin Packaging Entered into Joint Venture for High Revenue Generation in European Market
The merger and acquisition of Novio Packaging and Berlin Packaging will boost the income as per the rising expenditure of net consumers by adding a better packaging supplier for metal, plastic, and glass containers. This collaboration aims at strengthening the European plastic offering of Berlin Packaging, thereby gaining an advantage over food and sports nutrition, personal care, and pharmaceutical product packaging in the market in Northern Europe. The CEO and chairman of Berlin Packaging, Andrew Belin said, “This acquisition will lead to better cross-selling opportunities with a perfect platform to expand to the European market with the robust sales pipeline.” Such initiatives taken by the companies are expected to aid in the expansion of the market in the forecast period.
To get a detailed report summary and research scope of this market, click here:
Advent of Green Packaging will Bolster Growth
The rise in the usage of cosmetic products, further attributed to the growing beauty industry is a major Cosmetic Packaging market growth driver. Besides this, the rising consumer consciousness about beauty and increasing disposable income of people are also set to boost growth. Furthermore, a rise in the need for shelf-life extension of cosmetic products would propel the demand for cosmetic packaging, thereby augmenting growth.
On the contrary, environmental issues such as animal cruelty for the testing of cosmetic products, coupled with the other environmental issues may pose a major hindrance to the overall market. Nevertheless, the imposition of green packaging and recycled packaging products is likely to create lucrative growth opportunities for the market in the coming years.
Companies to Engage in Collaborative Efforts to Attract More Revenue
The competitive landscape of the market is highly fragmented on account of the presence of many companies. Players are engaged in the adoption of sustainable packaging solutions by using recycled and reused products for cosmetic packaging to gain a competitive edge in the market. Besides this, vendors are engaging in collaborative strategies such as mergers and acquisitions, joint ventures, agreements and contracts, and others to attract high revenue in the coming years.
Significant Industry Developments of Market include:
List of Major Market Manufacturers are:
Further Report Findings-
The Market is Segmented Into:
Value (USD Billion)