July 19, 2024
Makeup Packaging Market

The global Makeup Packaging Market is estimated to Propelled by Increased Demand for Sustainable Packaging

Makeup packaging refers to the containers used in the packaging of cosmetic and beauty products like foundations, concealer, lipsticks, and more. It plays an important role in preserving products and preventing damage or spillage during transportation. Additionally, makeup packaging offers features like accurate dosage dispensers for creams and lotions. Rising awareness about environmental issues has increased the demand for sustainable and eco-friendly packaging materials like cardboard, paper, aluminum, and glass among consumers.

The global Makeup Packaging Market is estimated to be valued at US$ 8126.3 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growing concerns regarding environmental impact of plastics have led packaging manufacturers to focus on developing sustainable options. Makeup brands are increasingly adopting lightweight packaging made from recyclable and recycled materials to cater to eco-conscious consumers. For instance, paper-based packaging is gaining popularity as it is sustainable and can be recycled. Leading brands are incorporating minimal secondary packaging like bubble wraps to reduce plastic waste. Sustainable and eco-friendly packaging helps companies enhance their green credentials and market visibility.

SWOT Analysis

Strength: The makeup packaging market has witnessed strong demand in recent years due to increased makeup consumption globally. The market offers ample opportunities for product innovations in packaging designs and features like compact shapes.

Weakness: Changing consumer preferences towards eco-friendly makeup products poses threats to conventional plastic packaging. High raw material prices can squeeze profit margins for manufacturers.

Opportunity: Emerging trends around sustainable and zero-waste packaging present new opportunities. Personalization capabilities in packaging allow companies to better engage customers.

Threats: Stricter environmental regulations around plastic usage may negatively impact certain players. Economic slowdowns can temporarily impact non-essential spending on cosmetic products.

Key Takeaways

The global Makeup Packaging Market Demand is expected to witness high growth over the forecast period supported by rising disposable incomes and increased product spending internationally. The global Makeup Packaging Market is estimated to be valued at US$ 8126.3 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.

North America currently dominates the market owing to heavy makeup consumption in countries like the US. However, Asia Pacific is poised to emerge as the fastest growing region due to growing popularity of makeup among local consumers in countries like China, India and South Korea. China currently dominates the Asia Pacific makeup packaging industry followed by India. North America and Europe hold a significant share as well due to high per capita cosmetic spending and presence of leading international brands.

Key players operating in the makeup packaging market are Accord Healthcare Inc., Viatris Inc., Sandoz Inc., Sun Pharmaceutical Industries Inc., Vintage Pharmaceuticals Inc., Zydus Pharmaceuticals USA Inc., Watson laboratories Inc., Torrent Pharmaceuticals Ltd., Dr Reddy’s Laboratories Ltd., Unichem Laboratories Ltd., Apotex Inc. and Intas Pharmaceuticals Ltd. They focus on new product innovations, competitive pricing and sustainability-oriented solutions to expand their consumer base.
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Source: Coherent Market Insights, Public sources, Desk research
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