China Cosmetic Packaging Market Is Expected To Reach Above USD 7.75 Billion in 2022
Sarasota, FL -- (SBWIRE) -- 02/13/2018 -- According to the report, the demand for cosmetic packaging market in China was valued at over USD 5.87 billion in 2016, is expected to reach above USD 7.75 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.8% between 2017 and 2022.
Packaging is the process of enclosing, wrapping and protecting products for storage, distribution, sale, and use. Packaging can also be defined as the process of designing, evaluating, and producing packages. Cosmetic packaging depends on four major aspects such as the type of container, compatibility, functionality and protection of products. Cosmetic packaging is gaining huge demand in recent times owing to the huge demand for cosmetic products in China.
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The sharp rise in the cosmetic industry in expected to drive the cosmetic packaging market in China in upcoming years. Moreover, major focus on innovative cosmetic packaging is likely to fuel the growth of the cosmetic packaging market in the forecast period. However, fluctuations in the raw material of the packaging may obstruct the growth of the cosmetic packaging market in coming years. Nevertheless, increasing number of domestic players in this market may open opportunities for the cosmetic packaging market growth within the forecast period. Furthermore, development of new materials is considered to be the major driver opening new opportunities for the cosmetic packaging industry.
Based on the material type, the cosmetic packaging can be segmented as plastic, glass, paper and others. Plastic seized the cosmetic packaging market in 2016 due to high use of plastic in packaging owing to its well-situated in use and low cost. The cosmetic packaging is carried out using various types of container type such as jars, bottles, tubes, sachets and others. Bottles held the significant market share in 2016 followed by tubes. Tubes are expected to experience amplifying growth in the forecast period. The cosmetic packaging is utilized in various applications such as hair care, skin care, nail care, makeup, and others. Skin care clutched the cosmetic packaging market in 2016 with noteworthy market share.
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China cosmetics market is growing rapidly. There are various new brands attracting the Chinese consumers. China is the second-largest cosmetics consumer market across the globe. China's cosmetics industry underwent a significant transformation over the past decade, owing to its rapid economic development. China is witnessing the decisive and approving shift in women's lifestyles coupled with remarkable growth in disposable income. The women population in China hunts for greater beauty expectations. Their prominent and escalating liberty combined with the focus on appearance is expected to ladder up the cosmetic market which in turn is anticipated to accelerate the growth of the cosmetic packaging market in the forecast period. Moreover, China is experiencing spectacular growth in skin care sector and is expected to gain traction in the forecast period.
Some of the major manufacturers in the cosmetic packaging include Jiangyin Bonus Cosmetics Packaging Co., Ltd., Guangzhou Taimei Cosmetic Packaging Co., Ltd, QUEENSPACK Co. Ltd, JUMBO, Alovey Cosmetic Packaging Co.,Ltd, Rise Cosmetic Packaging Co., Ltd., BI-packaging, IMS NINGBO LIMITED, Rayuen Packaging Co., Limited , Fine Cosmetic Packaging Co. Ltd., HCP Packaging and Auber Packaging Co., Ltd among others. The presence of numerous players in cosmetic packaging market in China there has been extreme competition among the manufacturers to uphold in the market.
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