The global cosmetic packaging market size is expected to reach USD 35.9 billion by b, expanding at a CAGR of 4.8% in the forecast period, according to a new report by Grand View Research, Inc. Growing fashion trends and attractiveness towards innovative and designer packing material for personal grooming products are anticipated to drive the market in the forecast period.
By material type, the plastic segment dominated the cosmetics packaging market with a share of 62.5% in 2018. Wide variety, application, and low cost of the material are likely to fuel the segment growth in the forecast period. Paper is anticipated to expand at the fastest CAGR of 5.9% due to increasing awareness regarding eco-friendly packaging. High use of paper as a secondary packaging is also driving the segment in the forecast period.
Skin care led the market in 2018, accounting for 47.9% share of the overall revenue. Innovation in the products such as introduction of anti-ageing products is likely to drive the segment in the forecast period. The make-up segment is anticipated to emerge as the fastest growing segment in the forecast period. Growing young population and increasing number of women in the corporate are fuelling the growth of this segment.
Asia Pacific was the leading regional market in 2018, accounting for 40.0% share of the overall revenue. Growing demand among the millennials in the emerging countries such as India, China, and Japan, which account for more than 34% of the global population, is boosting the regional market growth. Muslim dominated countries in Middle East are likely to witness significant growth in the coming years. Shifting target audience to Muslims due to increasing demand for halal cosmetics is driving the market in the region.
Cosmetic Packaging Market Report Highlights
• By material type, the paper segment is ascend to expand at a CAGR of 5.9% in the forecast period
• Make-up is anticipated to expand at the fastest CAGR of 5.7% in the forecast period
• Countries such as Saudi Arabia and UAE, which are Muslim dominated, are projected to witness significant growth in cosmetics packaging market due to increasing demand for halal cosmetics.
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Cosmetic Packaging Market Segmentation
Grand View Research has segmented the global cosmetics packaging market on the basis of material type, cosmetic type, and region:
Cosmetic Packaging Material Type Outlook (Revenue, USD Billion, 2015 – 2025)
Cosmetic Packaging Cosmetic Type Outlook (Revenue, USD Billion, 2015 – 2025)
• Hair Care
• Skin Care
• Nail Care
Cosmetic Packaging Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central and South America
• Middle East & Africa
• Saudi Arabia
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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