The
global
cosmetic bottles packaging market
is foretold to be all set for a staggering growth in the foreseeable
future on account of a high focus on making packaging more alluring
and innovative for different types of cosmetic product consumers.
This could allow cosmetic product companies to gain a greater
footprint in individual target regions, reduce brand recall rates,
increase sales, and enhance brand visibility. In the coming years,
there could be a drastic hike in the effectiveness and importance of
packaging in the cosmetic products industry. The rising usage of
ecofriendly materials and the green trend could provoke packaging
innovations to upgrade to the next level, thus increasing the demand
in the market.
According to the evaluation of
Transparency Market Research (TMR), the global cosmetic bottles
packaging market is envisaged to collect a hefty earning of US$8.3 bn
by the completion of 2022 at a 5.0% CAGR, from a valuation of US$6.5
bn attained in 2017.
Global Cosmetic Bottles
Packaging Market: Major Insights
The international cosmetic bottles
packaging market is envisioned to be strongly driven by the growing
purchase power of consumers amid a widespread awareness about the
easy availability and effectiveness of pollution protection and
anti-aging products. Thus, the rising number of geriatrics in prime
regions such as Asia Pacific could augur well for the market. With
that mentioned, the elevating count of young consumers using cosmetic
products could not be ignored as it is projected to significantly
contribute toward the market growth. The younger demographic is
expected to be largely attracted to packaging innovations. As a
result, it could be specifically targeted by cosmetic bottles
packaging companies.
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The international cosmetic bottles
packaging market is forecasted to be segmented as per three types of
category, viz. capacity, material, and application. In terms of
capacity type, players could find new avenues opened up in segments
such as below 50 ml, 50 ml–100 ml, 100 ml–150 ml, 150 ml–200
ml, and above 200 ml. However, the publication prognosticates the
below 50 ml market to secure a dominating status by 2022 end. It
could garner a share of 31.4% by the final forecast year.
By material, the international
cosmetic bottles packaging market is anticipated to be classified
into plastic, glass, and metal. By application, segments such as skin
care, hair care, makeup, and nail care could create opportunities in
the market.
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