Cosmetic Packaging Market Worth USD 7.75 Billion by 2022
Cosmetic Packaging Market in China is expected to reach above USD 7.75 billion in 2022, growing at a CAGR of 4.8% between 2017 and 2022.
Sarasota, FL -- (SBWire) -- 01/04/2018 --Zion Market Research has published a new report titled "Cosmetic Packaging Market by Material Type (Plastic, Glass, Paper and Others), by Container Type (Jars, Bottles, Tubes, Sachets and Others) for Hair Care, Nail Care, Skin Care, Makeup and Other Applications: China Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022" 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.
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Packaging is the key intermediate between the product and its target consumers. Packaging is vital in retaining loyal customers as well as inspiring new ones. Changes in packaging can expand a customer base by capturing new market segments and can manipulate shopping manners. Cosmetic packaging plays a crucial role in protecting the contents from outer environment and broadens its shelf life. Packaging helps in preventing the contamination of the contents and avoids microbial growth.
Rapidly escalating cosmetic industry in China is expected to drive the cosmetic packaging market in coming years. Furthermore, there has been the intense rise in demand for color cosmetic which may positively influence the growth of the cosmetic packaging market in the forecast period. On the flip side, fluctuations of the raw material prices may limit the growth of cosmetic packaging market. Nevertheless, ongoing research for developing innovative, eco-friendly packaging techniques is expected to accelerate the growth of the cosmetic packaging market in coming period.
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The cosmetic packaging market can be segmented on the basis of material type into plastic, paper, glass and others. Plastic was the leading segment in 2016 and is expected to maintain its traction in the forecast period. Plastic is the most preferred material in the cosmetic packaging due to its cost-effectiveness, good performance, reliable protection, color versatility, flexibility and easy transportation and storage. Some of the major container types used in cosmetic packaging market are jars, tubes, bottles, sachets and others. Bottles curled the cosmetic packaging market in 2016 owing to their ease of handling and greater volume capacity. Tubes are expected to exhibit the fastest growth in the forecast period. Some of the major applications of the cosmetic packaging are hair care, skin care, nail care, make-up, and other applications. Skin care segment is expected to be the most attractive application segment of the market over the forecast period. Continuous product innovation in skin care products and development of more effective anti-aging and sun protection product trends in the cosmetic market is expected to drive the market in the upcoming future. Makeup is expected to prosper the market growth in forecast period owing to growing demand for color cosmetics in China.
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Per capita income levels are elevating continually in China, thus, the country is experiencing higher interest and shifting from the product. The rapid development of domestic cosmetics manufacturers in China has boosted the growth of domestic brands. The market share of domestic brands is growing gradually, posing competition to their foreign counterparts. Thus, the domestic cosmetic packaging industry is likely to boost the market in the coming years. Moreover, growing demand in the cosmetic market is the rapidly expanding middle class in China.
Key players operating in the cosmetic packaging market are 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.
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