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Global Cosmetics Packaging Market to Reach US$ 34,941.78 Million by 2027 - Coherent Market Insights (CMI)The global cosmetics packaging market was valued at US$ 27,295.80 million in 2019 and is expected to exhibit a CAGR of 3.44% during the forecast period (2020-2027). Key Trends and Analysis of the Global Cosmetics Packaging Market: Natural and organic cosmetic products are gaining traction in the market and this is attributed to the growing awareness regarding the adverse effect of synthetic cosmetic products. The advent of new products such as anti-aging creams, sun protection creams, and anti-wrinkle creams is expected to propel the market growth of cosmetic packaging. Moreover, various companies are using packaging to aesthetically appeal to the consumers by using a variety of printing options which is expected to drive the market growth. Key Market Takeaways: The global cosmetics packaging market is expected to exhibit a CAGR of 3.44% during the forecast period (2020-2027). Packaging plays a key role in branding the cosmetic products as it gives it a high-end look, which attracts new customers and retains existing customers, and adds to its brand differentiation. Thus, cosmetic companies mainly focus on attractive, portable, and effective packaging that provides multifunctional properties for its customers and fuel the growth of cosmetic packaging market.. In addition, the gradual shift in the residence of the human population from rural to urban areas, combined with the overall growth of the world's population is expected to add another 2.5 billion people to urban areas by 2050. This factor is further expected to drive the demand for cosmetics from urban areas during the forecast period. Buy-Now this Research Report@ https://www.coheentmarketinsights.com/insight/buy-now/3058 The anti-ageing beauty products are expected to boost the demand for cosmetics during the forecast period. Consumers mainly from the aging population are inclined towards cosmetic products, which improve their overall appearance. This trend in now gaining traction among the aging population in particular, driving demand for cosmetic packaging over the forecast period. In the recent past, the Internet/E-Commerce retailing has gained traction, as it is perceived to be relatively convenient and economical for consumers to make purchases. Major players of cosmetic market such as L'Oreal and Estee Lauder prefer selling their products through E-commerce retail, which is expected to boost sales of cosmetic products and in turn positively influence the global cosmetic packaging market growth. For instance, in 2019, Estee Lauder generated 12% revenue in the U.S., and 8% of its global sales were derived through E- Commerce retailing. Competitive Landscape: Major players operating in the global cosmetics packaging market are Aptar Group, Inc., RPC Group Plc., Gerresheimer AG, Amcor Limited, Albea S.A., Libo Cosmetics Company, Ltd, Quadpack Industries, HCP Packaging, Fusion Packaging, and ABC Packaging Ltd. Key players are focusing on strategic mergers and acquisitions to increase their geographical presence and gain a stronger customer base. For instance, in November 2017, Cosmax acquired full stake of the U.S. cosmetics developer and manufacturer, Nuworld, for US$ 50 million. Cosmax plans to enhance its local manufacturing facility as well as research and marketing to gain competitive edge in the U.S. cosmetics manufacturing market.
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About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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