Innovative Packaging Designs propel Global Beauty & Personal Care Market Growth Opportunities

Inkwood Research evaluates that the Global Beauty & Personal Care Market is predicted to register a CAGR of 3.15% in terms of revenue during the forecast period, 2022-2030.
"Browse 90 Market Data Tables and 62 Figures spread over 389 Pages, along with an in-depth TOC on the Global Beauty & Personal Care Market Forecast 2022-2030."

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Beauty & personal care products entail mid-priced or lower products that are deemed 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 for households. Therefore, spending on beauty & personal care products has also increased.

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Eco-Friendly Packaging Designs fuel 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 and 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 uses 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).

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.

Asia-Pacific to record the Largest Market Share by 2030
Asia-Pacific encompasses a major population of 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 results 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 foothold in the market, including 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 in the market include Procter & Gamble, Unilever Group, L'Oréal Groupe, Beiersdorf AG, Coty Inc, etc.

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About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.

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