July 25, 2024

The Global Makeup Packaging Market Is Driven By Rising Demand For Cosmetic Products

The makeup packaging industry produces a wide range of containers and applicators for makeup products such as lipsticks, eyeshadows, foundations, concealers and many more. These packaging provide portability, ease of use, and protection from external elements for the products. The packaging comes in various shapes, sizes and materials depending on the makeup product type. Plastic packaging is dominantly used owing to properties like durability, flexibility and moisture resistance. Glass packaging is also used for its premium look. Various packaging formats include jars, tubes, bottles, pots and compacts which require precise molds and machinery for manufacturing. The global demand for cosmetic products has been witnessing strong growth which is driving the need for innovative and attractive makeup packaging solutions.

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 6.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the makeup packaging market is the rising demand for eco-friendly and sustainable packaging materials. Consumers are increasingly looking for packaging made from recycled plastics and plant-based materials to reduce environmental footprint. Brands are responding to this trend by offering makeup products in packaging made from eco-friendly materials like recycled PET, sustainable wood, bamboo and sugarcane. Another notable trend is the customized and personalized packaging designs. Brands are focusing on unique designs, embellishments and customization techniques to attract customers and build strong branding. Emerging technologies like 3D printing, laser engraving and smart features are being integrated in makeup packaging for elevated shopping experiences.

 

Porter’s Analysis

 

Threat of new entrants: Low capital requirements and established value chains create barriers for new companies entering this mature industry.

Bargaining power of buyers: Large cosmetic companies have significant bargaining power over packaging suppliers due to their scale and purchasing power.

Bargaining power of suppliers: Major producers have expanded globally through mergers and acquisitions, increasing their power over specialized raw material and packaging component suppliers.

Threat of new substitutes: No close substitutes exist for customized packaging solutions tailored to each cosmetic brand’s identity and product needs.

Competitive rivalry: Competition is intense as major players compete on innovation, design, and sustainability to differentiate their offerings for global cosmetic brands.

Key Takeaways

The Global Makeup Packaging Market Demand is expected to witness high growth over the forecast period. Asia Pacific region dominates the global market share currently.

Regional analysis:

 

Asia Pacific region currently holds the largest share of the global makeup packaging market due to strong cosmetics industries and manufacturing capacity in China, Japan, and South Korea. Growing middle-class populations and increased disposable incomes in Southeast Asian countries also support further industry expansion.

Key players:

 

Key players operating in the Makeup Packaging market are 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. Competition among these players focuses on sustainable and customized solutions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it