The Global Makeup Packaging Market is estimated to be valued at US$ 8126.3 Mn or Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Makeup packaging includes containers, jars, bottles, tubes and other packaging types used for packaging of makeup products such as foundations, lips, eyes, nails etc. Plastic packaging offers advantages like light weight, durability and cost effectiveness which makes it the most preferred packaging material for makeup products.
Market key trends:
One of the key trend in the makeup packaging market is increasing demand for sustainable and eco-friendly packaging solutions. With rising awareness about environmental issues, consumers prefer packaging made from recycled content and recyclable materials. Manufacturers are focusing on use of renewable and biodegradable materials like paper, bamboo, glass for makeup packaging to cash in on the ongoing sustainability trend in the market. Another major trend is customization and personalization of makeup packaging according to the brand identity, occasion or target customer. Customized and personalized packaging helps brands in enhancing their visibility and drives impulse buying among consumers.
SWOT Analysis
Strengths: Eco-friendly and sustainable materials such as recycled plastics and aluminum used in packaging reduce environmental impact. Customizable and multi-functional packaging designs enhance user experience.
Weaknesses: High research and development costs incurred in innovating sustainable packaging solutions. Stringent regulations regarding use of materials may limit options.
Opportunities: Growing preference of millennials and Gen Z for natural and clean products provide scope for organic and biodegradable packaging. Expanding e-commerce industry increases demand for secure packaging formats.
Threats: Presence of local manufacturers offering low-cost substitutes. Economic slowdowns can negatively impact discretionary spending on cosmetic products.
Key Takeaways
The Global Makeup Packaging Market Trend size is expected to reach a value of US$ 8126.3 Mn by 2023, exhibiting a CAGR of 6.6% over the forecast period. The rising disposable incomes and growing working women population especially in Asia Pacific drives this market.
Regional analysis: Asia Pacific dominates the makeup packaging market and is expected to grow the fastest during the forecast period. High population, improving standards of living and increasing penetration of foreign brands fuels demand. Countries like China, Japan and India are major markets.
Key players: Key players operating in the makeup packaging market are Albéa S.A., AptarGroup, Inc., Axilone USA, ShyaHsin Packaging (China) Co., Ltd., Lumson SpA, Toly Group, Cosmopak Corp., Yoshida Industries Co., Ltd., Mitani Valve Co Ltd., HCP Packaging (Shanghai) Co. Ltd., Quadpack Industries, S.A., Kolmar Laboratories, Inc., and others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it