The latest market intelligence report released by data insights partners in the global cosmetic packaging market. According to the report, the global cosmetic packaging market is expected to grow at a healthy compound annual growth rate in the forecast period.
Cosmetic packaging refers to the main packaging, including cosmetic containers, and auxiliary packaging of cosmetics and fragrances. The international organization for Standardization (ISO) has established international standards that cosmetic packaging must comply with all over the world. Regional and local regulatory agencies such as FDA and EU have formulated directives that cosmetic packaging companies must comply with.
Market driving force
The prosperous cosmetic industry provides the initial impetus for the cosmetic packaging industry. The surge in purchasing power of consumers, especially in developing countries, coupled with the growing tendency of consumers to get attractive looks, is driving the development of this market. The trend of modification between the two genders has increased, especially in the corporate market, which is booming.
The penetration of Internet and social media platforms is promoting the growth of this market in many ways. Social media platforms are full of lifestyle blogs and make-up tutorials, which have a positive impact on young people’s impulsive purchase of celebrity cosmetics that imitate young people. In addition, the Internet has promoted the opening of online cosmetics stores of different brands, which is enriching the market.
Cosmetic packaging plays an important role in expanding the consumer base. Attractive and functional packaging of cosmetics products can not only bend the vanity of users, but also help cosmetics companies to enhance their brands, thus expanding the market share of their products.
The convenience of cosmetic packaging makes the market develop. Many cosmetic products are sensitive to sunlight and temperature. Packaging not only emits these adverse effects, but also improves the service life of products. In addition, since cosmetics have to go through a long distribution and storage chain before reaching the end users, packaging is necessary. These factors are accelerating the operation of cosmetic packaging market.
Market constraints
The basic raw material used in the production of cosmetic packaging is plastic. In the dumping process, these packages occupy a huge dumping site, and are not disposable. More and more environmental protection measures and environmental protection policies implemented by the government are hindering the function of the market.
The covid-19 pandemic has had a negative impact on the market. As a result of the global blockade, cosmetics stores were closed, and the liquidity and supply chain of cosmetics were destroyed. In addition, the need for make-up has been greatly reduced due to the adoption of family work and the avoidance of social gatherings, which in turn has disrupted the growth of this market.
business opportunity
Thanks to environmental protection and the adoption of sustainable projects, the cosmetic packaging industry is recycling plastic materials and developing technologies to produce environmentally friendly packaging solutions and create new avenues for the market.
Changes in lifestyle and increased purchasing power of consumers, together with the emphasis on cosmetics, especially in developing economies, are likely to provide ample opportunities for this market.
Development trend
It is estimated that the cosmetics packaging market in North America will grow significantly. This progress can be attributed to the presence of leading players in the cosmetics and personal care markets in the region, the importance of grooming the population of the region, the development of the packaging industry (including the growing innovative packaging solutions) and the foundation of e-commerce platforms, which can enhance consumers’ purchasing of cosmetics. The Asia Pacific region is expected to show significant growth due to the presence of emerging economies such as India and China, as well as the improvement of consumer living standards and purchasing power.
Post time: Feb-08-2021