Global Beauty and Personal Care Packaging Market has seen a growth of 4% and will grow over the forecasted period.
According to L’Oreal/FBIC Global Retail & Technology, the global beauty product market was ~USD 371 billion in 2011 and USD 399 billion in 2014.
By 2023, the global beauty and personal care packaging industry are projected to grow by 15.5% due to the high demand for flexible packaging, bottles, spray cans, and others.
Beauty and personal care packaging include packaging of a variety of products from shampoos, conditioners, perfumes, lipsticks, deodorants, and makeup for skin care products. However, volatile raw material prices are expected to act as a challenge to market growth.
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Beauty and Personal Care Packaging Market Synopsis:
One of the factors, which drive the growth of the beauty and personal care market is increasing demand for luxury and natural cosmetic products. Increasing consciousness about looks has grown the demand for cosmetic products. Investing in research and development of superior products, advancement in the packaging technology with improved functioning and storage features have also been the major factor triggering the growth of the beauty and personal care packaging.
The sharp rise in the cosmetic industry is expected to drive the beauty & cosmetic packaging market in the upcoming years. Moreover, major focus on innovative cosmetic packaging is likely to fuel the growth of the cosmetic packaging market over the forecast period. The increasing demand for innovative designsand, emphasisng on brand differentiation by packaging are the primary drivers of the market. Plastic is evolving as the material of choice for cosmetic packaging sur to its versatile nature. However, the growing price of plastic resins acts as a barrier for the growth of the market
The report has analyzed by material, product, application, and region. On the basis of the product, tubes and pouches segment dominate the global beauty and personal care. On the basis of the material, the plastic segment dominates the market with over 60% of share due to material compatibility, the trend in consumer preferences, and product characteristics. On the basis of the application, cosmetics segment dominated the market with 55.5% share in 2017. Cosmetic application segment to account for the largest share globally due to increasing urbanization, changing lifestyle, and increasing disposable income.
Smithers Pira concludes that the global packaging industry will grow by an annual average of 3.5% in coming years. This will affect flexible materials such as multi-layer plastics with low film thicknesses. The second area is cardboard boxes, which is likely to exceed the value of USD 261 billion. According to experts, metal and glass bottles may progressively replace hard plastic due to reduced use of the material as well as cost reductions and lower carbon emissions during the transport. A noticeable trend in the global market is the move towards more eco-friendly packaging solutions. With plastic, non-biodegradable nature, other materials such as paper and glass are gaining popularity. Players are also seen experimenting with other innovative packaging materials such as melamine and silicone
Rising population,especially young generation, is focusing on packaged goods, and a vibrant manufacturing sector is driving the demand for beauty & personal care packaging. This growth has spurred industry expansion, mergers, and acquisitions of the key players. The market growth might be restricted due to stringent regulations from the governing bodies and increasing raw material costs during the study period.
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Beauty and Personal Care Packaging Market Key Players
Some of the key players operating the global beauty and personal care packaging market includes –
- Amcor Limited (Australia)
- WestRock Company (U.S.)
- Saint-Gobain S.A.(France)
- Bemis Company, Inc. (U.S.).
- Mondi Group (Austria)
- Sonoco Products Company (U.S.)
- Albéa Services S.A.S.(France)
- Gerresheimer AG (Germany)
- Ampac Holdings, LLC (U.S.)
- AptarGroup (U.S.)
- Ardagh Group (Luxembourg)
- HCT Packaging Inc.( U.S. )
Extensive research in this market has brought to light that expansion is the key strategy adopted by the major players in the global beauty and personal care packaging market. This strategy is widely adopted to spread their geographical presence and achieve operational efficiencies.
Beauty and Personal Care Packaging Market, by segment and Geogrpahic Overview
The beauty and personal care packaging market is experiencing various changes and evolving customer expectations such as availability of small sizes and speedy technological innovation. On the basis of the materials, it includes plastics, glass, metal and other, by product includes bottles, jars, and cans, tubes, pouches, and others. It shows huge opportunities to plastic packaging manufacturers and focusing on launching innovative pack formats, sizes, and functionality with leading pack types in response to consumer demand for convenience. On the basis of the application, the market is segmented into skincare, cosmetics, fragrances, hair care, and others. In terms of the region, the global market is segmented into four major regions including North America, Europe, Asia Pacific, and RoW. In terms of the geography, Asia Pacific accounted for the majority market share, and is likely to dominate the market over the forecast period.
Rapid economic growth and increase in disposable income are projected to change the lifestyle pattern. China is predicted to open new growth opportunities in the beauty and personal care packaging market over the coming years. Rapidly growing cosmetic industry, changing packaging and improving the standard of living have amplified the demand for beauty and personal care packaging market, positively. A new trend in research and development carried out by the packaging manufacturers with a focus on advantageous locations for production and short-distance supply to reduce costs acts as a major factor for the growth of the Asia Pacific region.
Scope of the Report
This study provides an overview of the global beauty and personal care packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Beauty and Personal Care Packaging market by its material, product, application, and region.
Major TOC :
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Beauty & Personal Care Packaging Market By Materials
6 Global Beauty & Personal Care Packaging Market, By Product
7 Global Beauty & Personal Care Packaging Market, By Application
8 Global Beauty & Personal Care Packaging Market, By Region
9 Competitive Landscape
10 Company Profile
List Of Tables
List Of Figures
Detail Analysis of “Beauty and Personal Care Packaging Market Research Report – Forecast To 2023” @ https://www.marketresearchfuture.com/reports/beauty-personal-care-packaging-market-5528
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