The Global Cosmetic Bottle Packaging Market to Expand at a CAGR of 4.5% by 2023
Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global cosmetic bottle packaging market is estimated to value USD 39 billion, with a CAGR of 4.5% during the forecast period. The global cosmetic bottle packaging market 2020 is very competitive. The market is influenced by climatic conditions and long-term air quality. Some of the essential factors driving the cosmetic bottle packaging market are flawless barriers and innovative packaging. It helps in the reduction of transportation and carriage expenses, which results in increased profits. The increasing adoption of lightweight, rigid plastics is an important driver in expanding the market. Lightweight packaging is gaining popularity among consumers. The airless tubes and availability of high-quality printing at a low cost are the significant drivers for the global cosmetic bottle packaging market. Owing to a better standard of living, the cosmetics and oral care vertical is estimated to experience exponential growth during the forecast period. Development in packaging technologies and the availability of personal care products with innovative designs such as sprays, pen type, pumps, sticks, and roller balls have also propelled the market expansion. In-depth research has concluded that expansion is the most important factor which is aiding the expansion of the market. The strategy of expansion is broadly adopted by the organizations to enhance their regional presence and attain efficiency in business operations. The innovations and development in the technology is creating opportunities in the packaging industry.
Market Segmentation
The global cosmetic bottle packaging market can be segregated on the basis of application, material, and region.
On the basis of application, the global cosmetic bottle packaging market can be classified into haircare, skincare, cosmetics, bath and shower, and others.
On the basis of material, the global cosmetic bottle packaging market can be classified into glass, plastic, metal, and others.
On the basis of region, the global cosmetic bottle packaging market can be classified into Europe, North America, Asia-Pacific, and others.
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Regional Analysis
The global cosmetic bottle packaging market can be classified into Europe, North America, Asia-Pacific, and others. As per the analysis, the APAC region holds the maximum market share and is anticipated to maintain its position in the market. There has been a change in the lifestyle of the people living owing to the rise in disposable income and economic growth of the region. The emerging economies like India, China contribute significantly to the expansion. The Chinese cosmetic bottle packaging market is estimated to open gates for opportunities in the forthcoming period. The APAC region is likely to expand at a fast pace due to rapid industrialization. The region is likely to experience substantial investment in research and development of personal care items to favor the financial advancement and improving the standards of living. The North America and Europe market are likely to contribute significantly to the expansion of the cosmetic bottles packaging market owing to the increasing requirement and demand for luxury products.
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Key Players
The most significant players of the global cosmetic bottle packaging market are Unette Corporation (U.S.), Albea Group (Luxembourg), Amcor Ltd. (Australia), CCL Industries (Canada), Sinclair & Rush, Inc. (U.S.), Sonoco Products Company (U.S.), Essel Propack Ltd (India), Montebello Packaging (Canada), Huhtamaki (Finland), World Wide Packaging LLC (U.S.), and a few more.
Industry News
A US-based company called Procter & Gamble Beauty has announced that Old Spice and Secret Brand deodorants will be introduced in the U.S. Walmart stores in plastic-free, all-paper, and tube packaging.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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