Press release
Cosmetic & Toiletry Containers Market Size, Status and Industry Outlook During 2021 to 2026
Oct 20, 2021 (Market Insight Reports) --Global Cosmetic & Toiletry Containers Market Size, Status, and Forecast 2021-2026. In-depth research accumulated to offer Latest insights about acute features of the global Cosmetic & Toiletry Containers market. This report provides a detailed overview of key factors in the Cosmetic & Toiletry Containers Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Cosmetic & Toiletry Containers in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of COVID-19 on the regional economy.The cosmetic & toiletry containers market is forecasted to reach a CAGR of 5.4% during the forecast period (2021 - 2026).
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Market Overview:
Growing popularity in the beauty market, along with changing scenario of beauty retail distribution, is expected to contribute to significant demand for the market. According to FranchiseHelp, in the beauty industry, the number of employees in the service segment is expected to increase by 10% for barbers, hairdressers, cosmetologists, and by almost 22% for massage therapists by 2024. North America drives the cosmetic packaging industry due to high number of prominent vendors. According to Vogue Business, due to the raised awareness about the importance of skincare and the rising number of men purchasing skincare products, this market segment continues to grow and also skincare sales grew by 5% in the first quarter of 2019 and facts from the beauty industry in United States refers that revenue reached USD 1.4 billion in 2019.
- Increasing online penetration to enhance greater visibility of international brands across the world drives the market. Prominent manufacturers of these cosmetic and toiletry containers are mostly China-based and they majorly distribute cosmetic and toiletry containers through Alibaba Group Holding Limited, a Chinese conglomerate specialized in e-commerce and retail. Some of the other online retailers apart from Amazon are SavvyHomemade, LightInTheBox, The Container Store Inc., and AliExpress.
- Fluctuation in the rate of raw material will restrain the market to grow. The price of plastics is volatile because it depends heavily on the price of oil, and presently, high rate of cosmetic and toiletry products are being stored in plastic containers.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Asia-Pacific Account for Significant Market Growth
- Asia-Pacific is accounted for significant growth in the coming years. The growing trend of various home-based skincare products developed mainly by young beauty supporter is one of the significant factors for driving the market of cosmetic and toiletry containers in the region.
- According to the National Bureau of Statistics of China, China's skincare-products market is becoming more high-end. Though the retail sales value of high - end skincare products was however below that of mass-market alternatives in the year 2018, the market share of the skincare products has risen gradually to 32% in 2018 from 25.3% in 2013. Consumers are favoring major international brand skincare products and this factor is rising the demand for cosmetic containers at the production site to export the finished goods in this region.
- Moreover, according to statistics from NMPA (National Medical Products Administration), which is now under SAMR (State Administration for Market Regulation), there were 4,933 enterprises licensed to manufacture cosmetics in China at the end of June 2019. Domestic brands are mostly concentrated in the mid- to low-end market segments, while joint ventures and enterprises with foreign investment dominate the high-end segment.
- Moreover, according to the Indian Brand Equity Foundation in 2017, India's rural per capita disposable income was estimated to increase and reach USD 631 by 2020 with a CAGR of 4.4%. This rate of increment shows a high growth of demand of cosmetics and toiletries product in future which will increase the growth of the market.
Influence of the Cosmetic & Toiletry Containers Market report:
–Comprehensive assessment of all opportunities and risk in the Cosmetic & Toiletry Containers Market.
–Cosmetic & Toiletry Containers Market recent innovations and major events.
–Detailed study of business strategies for growth of the Cosmetic & Toiletry Containers Market market-leading players.
–Conclusive study about the growth plot of Cosmetic & Toiletry Containers Market for forthcoming years.
–In-depth understanding of Cosmetic & Toiletry Containers Market market-particular drivers, constraints and major micro markets.
–Favorable impression inside vital technological and market latest trends striking the Cosmetic & Toiletry Containers Market.
Read Detailed Index of full Research Study at@
https://www.marketinsightsreports.com/reports/05202906585/cosmetic-toiletry-containers-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=A19_op
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