Wiseguyreports.Com Publish New Market Research Report On -“Cosmetic Packaging Market 2019 Global Analysis, Size, Share, Trends, Opportunities and Growth, Forecast 2023”
— Cosmetics Packaging Market
Global cosmetics packaging market to witness a strong growth over the next several years. It is projected that the market will reach a valuation of USD 35.6 billion by the years 2023, reflecting a growth rate of 5.2%. Packaging has become one of the most important aspect of product market and the cosmetics industry is no exception. Most cosmetics brands are focusing on premiumization to create a brand value, which has subsequently increased the importance of packaging.
Packaging has continued to evolve over the years, latest printing technologies, hallmarks, extensive content information have improved the standards to a significant extent. Moreover, style of packaging, and raw materials used for packaging also play an important role in cosmetic packaging.
Cosmetics packaging is has emerged as an attractive industry in various parts of the world. This is mainly owing to rising in demand for cosmetic products. The millennial population is one of the largest consumers of cosmetics products. These products are witnessing strong penetration across region such as Asia, Europe, North America and Latin America.
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The Key Players in global cosmetic packaging market include:
• Amcor Ltd (Australia)
• Rexam Plc. (U.K)
• Silgan Holding Inc. (U.S.)
• World Wide Packaging Llc (U.S.)
• Quadpack Group (Spain)
• Albea Group (France)
• Aptargroup Inc. (U.S.)
• Cosmopak U.S.A. Llc. (U.S.)
• HCP Packaging (U.S.)
• LIBO Cosmetics Company Ltd. (Taiwan)
• Gerresheimer (Germany)
• ABC Packaging (India)
• Bemis Company, Inc. (U.S.)
There has been a significant rise in the global sales of skin care and hair care products. Some of the popular cosmetic products include shampoos, hair conditioners, anti-aging creams among others. Moreover, rising awareness regarding such products in developing countries has also influence their global demand. The aforementioned factors are proving impetus to the global cosmetics packaging market.
The rise of e-commerce is also viewed as a key force behind the surged cosmetics sales. Online retailing has allowed brands to promote their products to a larger pool of consumers. E-commerce has also allowed foreign brands to enter new markets in a cost-effective way.
The changing lifestyle, rising middle-class population, increase discretionary spending and emergence of beauty and wellness centres are some of other factors that are supporting the growth of the global cosmetics packaging market. The improving economic condition in Asia and LatAm is a positive indicator for market players operating in these regions. Consumers in these regions are showing a higher interest in grooming and maintaining an attractive appearance. Demand for cosmetic product is expected to grow at a sound pace over the next several years.
The level of consciousness on self-appearance among modern consumers is high, which is creating market opportunities for beauty products. The cosmetics industry is characterized by a large of companies competing on international and domestic level. Such factors haves benefited the cosmetic packaging market. Cosmetics companies are using packaging to create a standout identity. Over the years, a variety of cosmetic packaging has come up as market players shift their focus towards product innovation and product diversification. Amcor Ltd (Australia), Silgan Holding Inc. (U.S.), Quadpack Group (Spain), Aptargroup Inc. (U.S.), HCP Packaging (U.S.), Gerresheimer (Germany), ABC Packaging (India), are some of the prominent companies functioning in the global cosmetic packaging market. Many of these companies are actively focusing on growth strategies such as new product launch, merger & acquisition, and collaborations. Companies are adopting cutting-edge printing technologies like flexography and hot stamp foil printing to improve packaging quality and enhance the overall aesthetics.
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