Innovative Packaging Design to determine the Global Beauty & Personal Care Market Growth

Inkwood Research evaluates that the Global Beauty & Personal Care Market is predicted to register a CAGR of 1.67% in terms of revenue during the forecast period, 2019-2028.

"Browse 116 Market Data Tables and 67 Figures spread over 230 Pages, along with an in-depth TOC on the Global Beauty & Personal Care Market Forecast 2019-2028."

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Beauty & personal care products entail mid-priced or lower products that are deemed as necessary by most customers. These products include color cosmetics, hair care products, oral care products, sun care products, etc. Their increasing use across the globe is accredited to social, cultural, and economic changes across geographies. The rising number of women in the workforce has resulted in an increased income of households. Therefore, spending on beauty & personal care products has also increased.

Eco-friendly Packaging Design Fuels Market Growth

Consumers are seeking eco-friendly and functional cosmetic design, resulting in innovations in the packaging & design of products. Bio-based flexible packaging and paper packaging are trending. Packaging manufacturers offer varied innovative choices and creative technologies. With this, the choices range from multi-layered extruded barriers, holographic extruded tubes to custom die-cut tubes. The travel-friendly packs enable consumers to own a vast range of products to choose, carry, and change their products accordingly.

Several companies are introducing innovative changes in design and packaging. Procter & Gamble announced plant-derived packaging for its global cosmetic brands. It is using sugarcane-derived plastic from Braskem. L'Oréal introduced new assessment tools for its package design process, 'packaging impact quick evaluation tool' (PIQET) and 'sustainable packaging scorecard' (SPS).

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E-commerce is the Fastest-growing Distribution Channel

Technology has become synonymous with several age groups across the world. E-commerce has thus become an integral part of beauty & personal care products. The outlets are expanding their product line with product specifications and effective prices. The e-tailers prioritize delivery options and free returns, which add value to the e-commerce segment. Online shopping is a surging trend, with stores providing consumers a range of products to choose from. The growing smartphone consumer base, the thriving e-commerce industry, and internet penetration are boosting online retailing. Brands play a huge role in the consumers' decision to purchase products online.

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Asia Pacific to record Steadfast Growth along with Largest Market Share

The Asia Pacific region encompasses a major population of a young and aging populace. The region is also witnessing a surge in the number of females in workspaces. Countries like Thailand are becoming more receptive to modern appearance. Consumers are inclined to try new brands and products. This is resulting in the launch of diverse products. Although the customers majorly rely on their most favored brands and products, an incremental shift in taste is projected during the forecast period.

The market is dominated by major players. They have robust competitive strategies for maintaining their hold in the market. The strategies for expansion include mergers and acquisitions. Thus, the rivalry is evaluated to be high among the players to sustain themselves in the market. Some of the leading players of the market include, Procter & Gamble, Unilever Group, L'Oréal Groupe, Beiersdorf AG, Coty Inc, etc.

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