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Cosmetic Packaging Market To Reach $44.28Bn By 2030

Cosmetic Packaging Market To Reach $44.28 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Cosmetics Packaging Market Growth & Trends

The global cosmetic packaging market size is expected to reach USD 44.28 billion by 2030, expanding at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing fashion trends and attractiveness towards innovative and designer packing material for personal grooming products are anticipated to drive the market in the forecast period.

By material type, the plastic segment dominated the cosmetics packaging market with a share of 60.8% in 2023. Wide variety, application, and low cost of the material are likely to fuel the segment growth in the forecast period. Paper is anticipated to expand at the fastest CAGR of 5.9% due to increasing awareness regarding eco-friendly packaging. High use of paper as a secondary packaging is also driving the segment in the forecast period.

Skin care segment accounted for the largest revenue share in 2023. Innovation in the products such as introduction of anti-ageing products is likely to drive the segment in the forecast period. The make-up segment is anticipated to emerge as the fastest growing segment in the forecast period. Growing young population and increasing number of women in the corporate are fuelling the growth of this segment.

Asia Pacific was the leading regional market in 2023, accounting for 41.1% share of the overall revenue. Growing demand among the millennials in the emerging countries such as India, China, and Japan, which account for more than 34% of the global population, is boosting the regional market growth. Muslim dominated countries in Middle East are likely to witness significant growth in the coming years. Shifting target audience to Muslims due to increasing demand for halal cosmetics is driving the market in the region.

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Cosmetics Packaging Market Report Highlights

The plastics segment accounted for the largest revenue share of 60.8% in 2023 and the paper segment is expected to grow at the fastest CAGR of 5.9% over the forecast period
The skin care segment accounted for the largest revenue share in 2023 and the make-up segment is projected to grow at the fastest CAGR over the forecast period
Asia Pacific cosmetic packaging market accounted for the largest revenue share of 41.1% in 2023 and is expected to maintain its dominance over the forecast period.
Countries such as Saudi Arabia and UAE, which are Muslim dominated, are projected to witness significant growth in cosmetics packaging market due to increasing demand for halal cosmetics.