by The global cosmetic packaging industry plays a crucial role in protecting cosmetic products from damage and leakage during production, transportation, and consumer usage. Cosmetic packaging solutions such as cans, tubes, pouches, pumps, caps, closures, and jars are designed to provide protection, promote brand visibility, and enhance consumer experience. Sustainable packaging materials like paper and glass are increasingly being adopted by cosmetic brands for their minimal environmental footprint. The global cosmetic packaging industry witnesses steady innovation in design and functionality to keep pace with the evolving needs of consumers.
The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainable packaging is one of the major trends in the cosmetic packaging market. Changing consumer preferences towards eco-friendly products have compelled brands to adopt sustainable materials. Major players are investing in research & development to design packaging using post-consumer recycled plastics, recycled paper and glass. Paper packaging solutions are gaining popularity due to their ability to be recycled. Lightweight packaging using less plastic is another sustainable trend. Minimalistic and customized packaging tailored to individual product needs also enhances sustainability. Rapid customization capabilities through digital printing allow on demand personalization and versioning contributing to reduced wastage.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the cosmetic packaging market. Existing players have established brand visibility and economies of scale which pose barriers for new players. However, low capital requirements allow scope for new local players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiated products from various manufacturers. However, switching costs are low.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the fragmented nature of raw materials.
Threat of new substitutes: Threat from substitutes is low as cosmetic packaging helps protect products and improve appeal.
Competitive rivalry: The market is competitive due to presence of numerous global and regional players.
Key Takeaways
The Global Cosmetic Packaging Market Size is expected to witness high growth over the forecast period. The global Cosmetic Packaging Market is estimated to be valued at US$ 31588.71 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
Regional analysis: The Asia Pacific region dominates the global cosmetic packaging market and is expected to grow at the fastest rate during the forecast period. Factors such as growing cosmetic industry, rising incomes, and increasing self-grooming trend in emerging economies such as India and China are supporting market growth in the region.
Key players: Key players operating in the cosmetic packaging market are AFG Industries, Asahi Glass Company (AGC), AYG Coating Glass Co. Ltd., Cardinal FG, Gold Plus Glass, Guardian Industries, HNG Group, Jinjing Group, NSG Group, Pilkington, PPG Industries, Saint-Gobain, Sejal Float Glass, Shanghai North glass Technology & Industry Co. Ltd., and Zhejiang Glass Company Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
