The global cosmetic bottles packaging market is expected to witness robust growth in the foreseeable future owing to increasing demand for innovative packaging solutions in the cosmetic industry. As a result, the demand for cosmetic bottles packaging solutions is likely to experience significant growth in the future years.
In modern parlance, the scope of cosmetic bottles packaging moves beyond the function of casing or packaging of cosmetic products and includes the function of enhancing the aesthetic appeal of the whole package. In this respect, cosmetic product manufacturers employ bottles principally to convey packaging signals to consumers/shoppers about the quality of the product packaged. From a competitive standpoint, such factors help brands achieve product differentiation (in terms of packaging) even when the products packaged are relatively similar in the market. While glass bottles are employed for their superior appeal on retail shelves, PET-based cosmetic bottles help achieve economies of scale, thereby offering brands a competitive edge in the cosmetic industry.
New product launches in the cosmetic industry have been triggering the demand for cosmetic bottles across the globe. Haircare products and deodorants are among the key product divisions that have been witnessing new product launches, thereby expanding the scope of cosmetic bottles packaging. The growing demand for high barrier features in cosmetic packages has been favoring cosmetic bottles packaging market growth. In this respect, cosmetic bottles with pumps, sprays, and tamper-evident closures are being increasingly consumed. On a macro level, increasing awareness, most notably among female consumers, about anti-aging cosmetic products paired with the growing demand for skin-whitening products in the Asia Pacific has been increasing the adoption rate of cosmetic bottles.
The industry is segmented on the basis of material and application which is further segmented across major regions including North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The application segment of the cosmetic bottles packaging market is further bifurcated into nail care, hair care, make-up, and skincare.
The material segment is further segmented into plastic, metal, paper, and glass. On the basis of material, plastic was observed to be the largest segment in 2018. The increasing popularity of polyethylene terephthalate-based packaging materials among cosmetic manufacturers are expected to strengthen the position of the plastic segment in the foreseeable future. A key observation in the industry over the years has been the rising employment of environmentally-friendly materials to manufacture cosmetic bottles. This trend towards green packaging could provoke the need for innovations in packaging, thereby compelling key players in the industry to upgrade their product offerings.
Moreover, increasing demand for sustainable packaging solutions and stringent rules implemented by the various governments has forced the product manufacturers to inculcate recyclable packaging solutions in their operations. This strategic initiative helps in targeting consumers who prefer sustainable packaging solutions. Constant investment in research and development of environment-friendly materials is expected to offer innovative products in the future. Some of the environment-friendly packaging materials including plant-based fibers, mushroom roots are currently used to produce packaging solutions.
The paper material segment is expected to grow at a healthy rate owing to the availability of these materials in a variety of shapes and styles to meet the packaging requirements in product delivery. Packaging foam is a part of the protective packaging category and is used for the packaging of a product that requires cushioning. These are usually used in combination with other materials to enhance the overall appeal of the delivery package.
The Asia Pacific is likely to grow at the fastest rate over the forecast period. The presence of dominant market participants catering to a large consumer base is expected to contribute to the growth of the regional cosmetic bottles packaging market. The region is also expected to witness growth in emerging economies such as South Korea, Thailand, and Malaysia owing to the rising consumption of cosmetic products, notably among millennial consumers in these countries. North America is expected to claim a significant share in the market throughout the forecast period. The popularity of Korean beauty products continues to strengthen the regional market, most notably the Canadian cosmetic bottles packaging market.
In addition, increasing investments from e-commerce companies owing to supportive regulations including 100% Foreign Direct Investment (FDI) allowed in B2B e-commerce and 100% FDI under automatic route is permitted in marketplace model of e-commerce is expected to further elevate the e-commerce packaging market in India.
The industry is characterized by intense competition with market incumbents including RPC Group PLC, Albea Beauty Holdings S.A., Amcor Ltd., and Aptar Group dominating the market space. Expansion of product portfolio and product innovation are among the preferred competitive strategies deployed by prominent market participants to stay abreast of the competition in the market. Key market participants have been focusing on gaining a sustainable competitive advantage in the market through innovation in design and technology employed. To gain a foothold in untapped markets, new entrants have been focusing on partnering with well-established cosmetic product companies. Such trends are expected to sustain throughout the forecast period.
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