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Cosmetic Packaging Market Size will Reach $39.32 Billion by 2027; Advent of Eco-friendly and Customized Packaging to Augment Growth

May 21, 2020 | Chemicals & Materials

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:


https://www.fortunebusinessinsights.com/cosmetic-packaging-market-102130


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:



  • July 2019 –  RPC Group was acquired by Berry Global for USD 6.3 billion for strengthening the position of the company in the plastic packaging segment.

  • June 2019 – Amcor acquired Bemis Company for strengthening the demand and supply chain of cosmetic packaging throughout the United States.

  • September 2019 – Lepolast, a manufacturer of lip-glosses and lipsticks was acquired by Lumson. After the success of this strategy, Lumson signed an agreement with Marino Belotti, the packaging producer of compact cases and other powder boxes. This partnership is aiming at the expansion of the Italian company into the Chinese market.


List of Major Market Manufacturers are:



  • Sealed Air Corporation

  • Aptar, Inc

  • Berry Global

  • Albea SA

  • DS Smith

  • Amcor

  • ALPLA Group

  • HCP Packaging

  • Berlin Packaging

  • BIG SKY PACKAGING

  • Other Vendors


Further Report Findings-



  • Asia Pacific held the dominant Cosmetic Packaging market share with a revenue of USD 10.50 billion in 2019. China is leading the market owing to the rapid increase in disposable income of the masses and social media influence on beauty with the advent of digitalization.

  • Based on segmentation by material, the market is dominated by the glass segment with a 37.7% share since glass is transparent and provides a premium look to the products. Besides this, glass is considered as an eco-friendly packaging solution and is more valued than plastics.


The Market is Segmented Into:








































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2018



Forecast Period



  2020-2027



Historical Period



  2016-2017



Unit



  Value (USD Billion)



Segmentation



By Material



  • Glass

  • Paper & board

  • Plastic

  • Metal

  • Others



By Application



  • Skincare

  • Hair care

  • Makeup

  • Nail care



By Geography



  • North America (the U.S., and Canada)

  • Europe (Germany, France, UK, Italy, Spain, Russia, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and the Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and the Rest of Latin America)

  • Middle East & Africa (South Africa, Saudi, UAE, Iran and the Rest of Middle East & Africa)


Cosmetic Packaging Market
  • PDF
  • 2019
  • 2016-2018
  • 200

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    8850

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