The global cosmetic packaging market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a CAGR of 4.03% from 2020 to 2025. The market is projected to grow in accordance with the growth of the cosmetic industry across the globe. Factors such as an increase in the innovations in packaging, and a boost in the demand for cosmetics from the youth population is expected to drive the market for cosmetic packaging.
The Asia Pacific region is projected to lead the cosmetic packaging market, in terms of both value and volume from 2020 to 2025. An Increase in demand for cosmetic products in emerging economies, as well as a boost in consumer awareness drives the investments of manufacturers to develop unique & innovative packaging solutions. This, in turn, increases the demand for cosmetic products, and is further expected to boost the demand for packaging in the Asia Pacific region.
The cosmetic packaging market has been dominated by large players, such as the Amcor PLC (Australia), Berry Global Inc. (US), DS Smith PLC (UK), Sonoco (US), and Huhtamaki Oyj (Finland). These players have adopted various growth strategies, such as expansions, new product developments, and acquisitions, to increase their market shares and enhance their product portfolios.
Acquisitions accounted for the largest share of all the strategic developments that took place in the cosmetic packaging market between February 2016 and January 2020. Key players such as Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), AptarGroup, Inc. (US), TriMas Corporation (US), and HCP Packaging (China) adopted these strategies to strengthen their business portfolios and presence in the cosmetic packaging industry.
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Amcor (Australia) designs highly versatile cosmetic packaging solutions that are innovative, available with a one-way integrated valve, and offer ease of disposal. Innovation, excellence in manufacturing, and a broad range of technologies are the key strengths of the company. The company caters to the food, healthcare, beverage, home, tobacco, and personal care industries through its broad range of flexible and rigid packaging products. Amcor is currently focusing on reducing the carbon footprint by making the packaging material lighter, increasing the recycling rate of raw materials, developing efficient transport and re-closable packaging, and creating packaging material sustainable to heat treatment.
Berry Global Inc. (US) is one of the key manufacturer and supplier of a range of innovative rigid and flexible products for the consumer as well as industrial end markets. Berry Global focuses on expanding its customer base in various regions by offering an attractive product portfolio for cosmetic packaging. Along with a strong footprint worldwide, the company also focuses on offering an innovative & sustainable solution to the cosmetic industry for its cosmetic packaging. It has a strong foothold across the globe with 130 manufacturing facilities in North America, Asia, Europe, South America, and the Middle East.
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