Packaging is one of the main selling factors of cosmetics, and companies look to innovate and improvise their packaging in order to improve aesthetics of the product to boost sales. Cosmetics market has traditionally been driven by fashion trends and market innovations rendering it susceptible to the rapid rate of change in customer preferences. This poses a challenge for the cosmetics packaging companies as the demand for new product is high, while resources remain constant. Plastic is the most used packaging material for cosmetics, accounting for more than 50% of the total demand for cosmetic packaging. Glass, metal, and paper are the other packaging materials that are used in the application.
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Cosmetic packaging market can be segmented into bottles, jars, tubes, pumps and dispensers, pen types, sticks, roller balls, caps and closures, pallets, and droppers among others by types of cosmetic packaging. The market can also be classified into hair care, skin care, make-up, and nail care among others by applications. The cosmetic packaging industry is extremely versatile, as a range of materials and packaging techniques are employed for different applications across the world.
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The cosmetic industry has witnessed high demand growth from the BRIC countries, as improving economic condition and generous cosmetics promotions, have driven the consumers towards a higher per capita cosmetic consumption. The cosmetics industry also benefitted immensely from the advent of e-commerce platform, which has registered high growth in sales in the recent years. The growing beauty conscious population coupled with the innovation by the cosmetic manufacturing companies has resulted in growth for the cosmetic packaging companies. Women over the age of 30 and skin whitening products are expected to drive the growth in this market. Owing to the increased awareness of the and Organic cosmetics brands have registered high growth in Europe, and North America and are expected to be the fastest growing sector in the region. The demand for organic cosmetics is certainly going to affect the demand for cosmetic packaging in these regions. Several organic and natural cosmetic brands have spread their footprint in Asia Pacific, and the market in this region is expected to follow suit. Moreover male grooming products and cosmetics have witnessed steep growth in the past few years, and are expected to drive the cosmetics packaging market in the foreseeable future.
The primary restraint in the cosmetic packaging market is the lack of sales of cosmetics during economic downturn in economies. Hair care and skin care products perform well even in bad economic conditions; however premium products and less essential products lose market attractiveness. Volatile raw material prices and increasing energy cost are also some of the concerns of cosmetics packaging companies.
North America and Europe market account for the majority of the global cosmetics packaging market. The highest growing regions in these regions are the U.S and the U.K. However Asia Pacific region along with Russia and Brazil are expected to grow at the swiftest pace over the next few years. Asia Pacific market is estimated to overtake the market leader position from North America very soon.
Some of the major companies participating in the cosmetics packaging market include Amcor Ltd. (Australia), Albea (France), HCP Packaging (China), Brimar Packaging Inc,(US), The Packaging Company (US), Collcap Packaging (UK) and Libo Cosmetics (Taiwan) among many others.