MAKEUP PACKAGING MARKET ANALYSIS

The global makeup packaging market is expected to be valued at US$ 12,757.8 million by 2030 and is expected to register a CAGR of 6.65% in terms of revenue over the forecast period (2023– 2030). Manufacturers are focusing on enhancing portability of the products and developing smaller pack sizes for increasing affordability for consumers. Furthermore, rising environmental concerns have led companies to adopt environment-friendly packaging solutions, such as paper packaging. For instance, U.S.-based companies such as Procter & Gamble and Johnson & Johnson, manufacture paper and bio-based flexible packaging products for the makeup and cosmetics industry.

Makeup packaging market: Growth Drivers

Rising demand for makeup products in the developing economies

Usage of color makeup in commercial establishments is comparatively higher than in households. This trend is expected to remain and is expected to drive the demand for makeup packaging during the forecast period. In emerging economies improving economic conditions, coupled with an increasing emphasis on grooming, is the primary driver influencing the demand for makeup packaging.

Changing demographics and evolving consumer taste and buying preferences

Changing demographics and evolving consumer taste and buying preferences have accelerated the demand for cosmetic products worldwide. This trend is anticipated to trigger the cosmetic packaging market growth. Also, the rising consumer spending on overall wellbeing and appearance should bolster the demand for cosmetic products, which will enhance consumer experience. These trends are likely to drive the use of customized as well as specialized packaging, which will then augment market growth during the forecast period.

Makeup packaging market: Market Restraints

Fluctuating prices of raw material

Restrictions and government regulation regarding the application of a few ingredients or raw materials in the makeup packaging market will act as market restraint that influences the growth of the makeup packaging market. Another factor, which will affect the market growth is fluctuating prices of raw material. These are the major market restraints that will obstruct the market's growth rate.

Makeup packaging market: Market Segmentation

Among material type, makeup packaging material is segmented into plastic, metal, glass, and others. Plastic has emerged as a major material type segment in makeup and cosmetics packaging industry, owing to its versatile nature. However, paper packaging segment is expected to gain traction owing to rising focus on environment-friendly packaging across the globe. Packaging is an important component in the cosmetics and makeup packaging industry, and for some products, packaging of the cosmetics and makeup products is more important than the product. Packaging plays a vital role in improving the appearance of the product and makes it more aesthetically appealing to the consumer. Growing demand for cosmetics and personal care products is expected to drive growth of the makeup packaging market.

Figure 1. Global Makeup packaging market Share (%), By Segment Type

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Makeup packaging market: Regional Analysis

Among region, Asia Pacific is the fastest growing market and accounted for the largest market share of around 38% in 2022. Factors such as rising e-commerce sales, increasing number of mobile phone users, and high internet penetration are expected to drive sale for makeup products through online platforms. This, in turn is expected to facilitate demand for packaging products and fuel growth of the makeup packaging industry over the forecast period. For instance, according to the India Brand Equity Foundation (IBEF)’s report, published in 2018, India is the fastest growing market in the e-commerce sector. The e-commerce sector in India was valued at US$ 39 billion in 2017 and is expected to reach US$ 120 billion by 2020, recording an annual growth of 51.0%. 

Figure 2. Global Makeup packaging market Share (%), By Region

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Makeup packaging market: Recent Developments

• In April 2022, Using ExxonMobil's Extend technology for increased recycling, Amcor, a global pioneer in creating and producing environmentally responsible packaging solutions, announced that it will be the first to obtain certified circular polyethylene material
• In March 2022, Berry Global Group collaborated with Koa to introduce 100 % recycled plastic body cleanser and body moisturizer bottles. Berry Global, as an industry leader in sustainability, is committed to making a positive environmental effect through streamlined processes, continuously engaged partners, and optimized goods.
• In May 2022, Carlyle announced that organizations connected to Baring Private Equity Asia, would cooperate to purchase a 100% stake in HCP Packaging, a market leader in the design, development, and production of cosmetic packaging
• In December 2020, AptarGroup opened a new sales office in Dubai. This sales office will be operated for all three segments of the company: beauty & home, food & beverage, and pharmaceutical. With this expansion, the company aims to target customers from several countries in the Middle East.

Makeup packaging market: key Companies

Major players operating in the global makeup packaging market include Albéa S.A., AptarGroup, Inc., Axilone USA, ShyaHsin Packaging (China) Co., Ltd., Lumson SpA, Toly Group, Cosmopak Corp., Yoshida Industries Co., Ltd., Mitani Valve Co Ltd., HCP Packaging (Shanghai) Co. Ltd., Quadpack Industries, S.A., Kolmar Laboratories, Inc., and others.

*Definition: Cosmetic Packaging is applied for the protection of products, and their branding. It gives the products from all the wear and tears during handling and transportation. The packaging is done in different forms such as tubes, pouches, jars, bags, cans, and others. Packaging materials are fabricated from plastic, paper, metal, and glass.