The global cosmetic bottle packaging market, estimated at about USD 39 billion at the retail level, is a highly attractive segment of the consumer products space. The market has seen steady growth of 4.5% CAGR in the last few years. The development of new and diversified packaging styles, and high potential in emerging economies provides huge growth opportunities for personal care products, create exciting opportunities within the packaging industry. Moreover, innovation in packaging plays a major role in driving the growth of cosmetic bottle packaging market. Vibrant shades of blue and yellow, color-coding, and a wide range of shapes, sizes and materials are now defining packaging for even basic skin care necessities. Innovation in appearance of convenient sprays and compressed sizes has also altered the look on store shelves, with familiar products in unfamiliar packages which have been quickly welcomed by consumers throughout the world. Recently companies have been spending more on packaging innovation than production cost. They are adopting active packaging and intelligent packaging so as to enhance the performance of the packaging technique.
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A new trend is research and development being carried out by packaging manufacturers with focus on lucrative locations for production and short-distance supply to reduce costs. Cosmetic bottle packaging market is expected to flourish during the forecast period due to the major drives such as focus on high-quality products, changing lifestyle of consumers. Advancement in packaging technologies and availability of personal care products in innovative designs, such as pumps, sprays, sticks, pen type, and rollers balls also boost the market growth.
The cosmetic bottle packaging market is undergoing various changes with rise in the number of stock keeping units, acceleration of technological innovation, and shift in competitive power. These changes evolve customer expectations. Regionally, global personal care market has been segmented into the four major regions of North America, Europe, Asia Pacific and RoW.
On the basis of regions, Asia Pacific accounted for majority of the market share; will continue to dominate the market in the forecast period. Rapid economic growth and increase in disposable income resulted in changing lifestyle patterns in emerging countries, such as China, India, and Brazil. China cosmetic bottle packaging market is expected to have new growth opportunities over the coming years. Improving disposable income, rising information, and changing standard of living have augmented the demand for cosmetic bottle packaging products, positively impacting the cosmetic bottle packaging market.
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The key players of global cosmetic bottle packaging market include Amcor Ltd. (Australia), Albea Group (Luxembourg), CCL Industries (Canada), Sonoco Products Company (U.S.), Sinclair & Rush, Inc. (U.S.), Essel Propack Ltd (India), Huhtamaki (Finland), Montebello Packaging (Canada), World Wide Packaging LLC (U.S.), Unette Corporation (U.S.) and others.
Extensive research in this market has brought to light that expansion is the key strategy adopted by the major players in the global cosmetic bottle packaging market. This strategy is widely adopted to spread their geographical presence and achieve operational efficiencies.
Market Research Analysis:
The global cosmetic bottle packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of cosmetic bottle packaging market is influenced by the long-term air quality and climate goals. The development of new and diversified technologies is creating exciting opportunities within the packaging industry. The increased demand, globally, for airless tubes and the availability of high-quality printing at a very low cost are major driver for the global cosmetic bottle packaging market. Some of the key driving factors for cosmetic bottle packaging market are significant growth in packaging industries, coupled with innovative packaging and excellent barrier properties. The increasing adoption of lightweight rigid plastics is one of the key drivers propelling the growth of this market in the coming years. Lightweight packaging is becoming, increasingly, popular among the consumers as it helps in the significant reduction of transportation and carriage costs, leading to increased profits. The cosmetics and oral care segment is expected to witness huge growth in the future due to improved lifestyle, globally. The factors have, significantly, benefitted the global market for cosmetic packaging and are expected to lead to healthy growth opportunities for the market in the next few years as well.
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