According to our latest market study on “Cosmetic Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Tubes, Bottles, Jars, Pumps and Dispensers, and Others), Material (Glass, Plastic, Paper, Metal, and Others), and Application (Skin Care, Hair Care, Oral Care, and Others),” the market was valued at US$ 31,064.7 million in 2021 and is projected to reach US$ 43,597.9 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The cosmetic packaging market is growing due to the increasing demand from the cosmetic industry and numerous product innovations in the field. In recent years, there have been various technological advancements in the market. Manufacturing companies are increasing their focus on innovation and offering new products to enhance customer experience. Manufacturers are also focusing on innovative packaging designs and products to attract consumers, which provides them a competitive edge. For instance, Albea SA, a packaging solution provider, developed a Teardrop tube, a drop-by-drop dispensing system for liquid formulations. The tube is lighter and offers more resistant packaging than a glass bottle, and it is an ideal solution for on-the-go usage. Along with this, Albea SA and L’Oréal together developed the very first cosmetic tube integrating certified paper-based material. Such new product developments are propelling the demand for cosmetic packaging.

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Major key players covered in this report:

ALBEA; APC PACKAGING; AptarGroup, Inc.; Berry Global Inc.; Gerresheimer AG; WWP Beauty; Silgan Plastics.; Huhtamaki; LIBO Cosmetics; and HCP Packaging are among the major key players operating in the global cosmetic packaging market.

The inception of male cosmetics users positively impacted the cosmetic industry. According to a data sheet by India Brand Equity Foundation (IBEF), men aged 18?25 spend more money on grooming and personal care products than women in India. Thus, an increase in demand for cosmetics from different genders is driving the growth of the cosmetic industry. Cosmetic packaging becomes an essential factor as it helps provide the product a distinctive look, which helps attract consumers. Due to the growing demand for cosmetics through e-commerce and digital transformation, there has been an increase in need for specialized and customized packaging. Thus, the growing cosmetic industry worldwide is driving the cosmetic packaging market growth.

The market is expected to remain lucrative in the coming years owing to the increased use of cosmetic packaging to attract consumers and provide a personalized feel to the consumers. The capital cost involved in the production of cosmetic packaging and operating a manufacturing unit is on the moderate side, influencing an entrant's decision to enter the market. The major manufacturers of cosmetic packaging have the majority of the share in the market, which makes it difficult for new companies to enter the market. As the cosmetic packaging market grows, there will be an increase in the number of local and regional manufacturers, which become a threat to the established players.

Impact of COVID-19 Pandemic on Cosmetic Packaging Market

The COVID-19 pandemic has negatively impacted the global cosmetic packaging market owing to the shutdown of manufacturing units, rising prices of raw material, shortage of labor, disruption of supply chains, and financial instability. Cosmetic packaging is primarily used by the cosmetic industry, and the disruption of the cosmetic industry due to economic slowdown caused by the COVID-19 outbreak has restrained the growth of the market. However, businesses are gaining ground as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased out the situation, leading to the rise in business activities across the world.

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The report includes the segmentation of the global cosmetic packaging market as follows:

By type, the cosmetic packaging market is segmented into tubes, bottles, jars, pumps and dispensers, and others. By material, the market is segmented into glass, plastic, paper, metal, and others. By application, the cosmetic packaging market is segmented into skin care, hair care, oral care, and others.

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