Cosmetic Packaging Market to surpass US$ 35,777.0 Mn by end of 2027, Says Coherent Market Insights

SEATTLE, Oct. 26, 2021 /PRNewswire/ -- The term cosmetic packaging is generally used to refer to packaging of personal care and fragrance products. Personal care products are chemicals designed for hygienic skin care, deodorising and improving aesthetic appeal. Most products are sold in cosmetic tubes and similar containers. Some cosmetic packaging, such as cosmetic jars and bottles, are known as biodegradable or eco-friendly because they are designed to break down without causing any harm to the environment. The most common type of plastic used in cosmetic packaging is PP. Other plastics include PET and acrylic ingredients. HDPE plastic is ideal for skincare product packaging due to its durability, strength and high resistance to most acids.

The global cosmetic packaging market is estimated to account for 35,777.0 Mn in terms of value by the end of 2027, witnessing a CAGR of 3.44%.

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Market Drivers:

Development and launch of new products is expected to propel growth of the global cosmetic packaging market over the forecast period. For instance, in September 2020, Amcor Ltd. announced the world's first recyclable flexible retort pouch, which uses Amcor's AmLite HeatFlex Recyclable solution.

Moreover, increasing adoption of global cosmetic packaging market is also expected to propel growth of the market. For instance, in October 2021, LR Health & Beauty launched LR Soul of Nature, a new brand that of fragrance products with recycled plastic and waste glass as packaging.

Market Opportunities

R&D in sustainable products is expected to offer lucrative growth opportunities for players in the global cosmetic packaging market. For instance, in December 2020, Aptar Beauty + Home, announced production of its most popular spray pumps in 100% PCR (Post Consumer Resin) for the redesign of natural pet care brand WildWash.

Launch new features is also expected to offer lucrative growth opportunities for players in the global cosmetic packaging market. For instance, in October 2021, North Pacific International announced to launch new features for foil and heat transfer labels at the Luxe Pack New York show.

Market Trends

Increasing sale of counterfeit cosmetics has led to high demand for anti-counterfeit cosmetics packaging. For instance, The 2020 Review of USTR Notorious Markets List for Counterfeiting and Piracy released by the Office of United States Trade Representative claimed that Indian shopping complexes such as Heera Panna in Mumbai sells counterfeit footwear, accessories, watches, apparel and cosmetics.