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Market Research Future Insights:
According to MRFR analysis, the global Cosmetic packaging market size was valued at USD 35.50 billion in 2021. The cosmetic packaging market industry is projected to grow from USD 37.00 billion in 2022 to USD 53.38 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.69% during the forecast period (2022 – 2030).
Cosmetic packaging is a unique and specialized form of packaging that is based on the demands of the market. It goes beyond traditional beauty products like lipstick and eye shadows to include sophisticated beauty products that require high levels of security and skin-friendly ingredients to prevent contamination. Many companies that supply cosmetic packaging were forced to either scale back or halt production temporarily to keep up with demand. This meant that fewer units were produced, which in turn put a strain on the market.
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Regional Analysis
The Asia Pacific region is the largest market for cosmetic packaging. A rapid increase in disposable income and the rising number of young people are expected to boost the consumption of cosmetic products in the region. North America ranks second in the market, with the United States being the largest producer of cosmetics and their packaging. The country exports high volumes of cosmetic products to many parts of the world. Producers in North America are also opting for green packaging solutions and natural products.
Market Segmentation
The global Cosmetic Packaging market has been segmented into material, product and application.
Based on material, the market has been segmented into Plastic, Paper, Glass, and Metal. Glass packaging holds a significant share of the market due to its relatively high cost compared to other materials and its widespread adoption in luxury packaging.
Based on product, the market has been segmented into Bottles & Jars, Tubes, Containers, Pouches, Sticks, Roller balls, and Dispensers. The bottling segment is projected to have the largest market share during the forecast period. The demand for this segment is driven by an increase in demand for bottles from personal care and hair care manufacturers.
Based on application, the market has been segmented into Hair Care, Skin Care, and Nail Care. Skincare products make up the majority of the global market due to their high adoption rates in Asia Pacific, Europe, and North America.
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Key Players
Some of the key market players are Amcor Ltd (Australia), and Rexam Plc. (U.K), Silgan Holding Inc. (U.S.), World Wide Packaging Llc (U.S.), Quadpack Group (Spain), Albea Group (France), Aptargroup Inc. (U.S.), Cosmopak U.S.A. Llc. (U.S.), HCP Packaging. (U.S.), LIBO Cosmetics Company Ltd. (Taiwan), Gerresheimer (Germany), ABC Packaging (India), Bemis Company Inc. (U.S.)
Industry News
The Hut Group (THG) has launched for its consumers a recycling regime for cosmetic packaging. The global network in Manchester has launched its recycling initiative known as recycle: me by THG (eco). This allows consumers to return all beauty items to the company for recycling, irrespective of their brand. Consumers on THG beauty pages in the United Kingdom will have to wash out and return their beauty items free of charge. They can also return items of any brand, although they were not bought from THG.
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