Cosmetic Packaging Market- The Biggest Trends to Watch out for 2022-2028

The growth of the market is attributed to the rapidly growing cosmetic industry; rising trend of wearing makeup among women; and the increasing number of makeup studios, beauty clinics, and salons across the globe. Furthermore, the manufacturers focus on creating better packaging design and branding their product smartly through innovative packaging to attract consumers. Also, the growing sales of cosmetic products through online retail channels would bolster the market growth during the forecast period.

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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 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.

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 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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