Bright Days Ahead for Cosmetic Packaging Industry Thanks to Nonstop Design Improvements
With unprecedented access to social media and the internet, consumers have not only become more conscious about what ingredients go into their favorite cosmetic products but are also more aware of how these products are packaged. While convenience remains the key factor brands consider while packaging products, sustainability is getting increasingly important.
The market for cosmetic packaging is thriving on the back of these factors, and more. Fortune Business Insights™ predicts the market value could hit USD 40.96 billion by 2028 with a CAGR of 4.1% during the forecast period. The market stood at USD 29.18 billion in 2020 and USD 30.98 billion in 2021.
A key role of cosmetic packaging is to market the product by drawing consumer attention. Graphical and physical aspects of designing go hand-in-hand to improve packaging appeal. Usually, paper & board packaging is used for secondary packaging and various graphical designs are used to make the packaging appealing.
Key market players have been focusing on enhancing their production capacity and leading brands have been putting efforts in R&D efforts for the development of better-quality packaging solutions.
Fortune Business Insights™ Presents Top 10 Players in the Cosmetic Packaging Industry
1. Amcor plc
Amcor plc is one of the top cosmetic packaging companies that manufactures and sells flexible packaging and customized folding cartons. The company offers personal care solutions that satisfy market and customer needs while also increasing packaging sustainability, bringing down the total cost of ownership, and differentiating the product.
May 2021: Amcor introduced new packaging bottles in association with Function of Beauty. The 100% premium-grade rPET bespoke 16- and 8-ounce bottles are created exclusively for personalized shampoos and conditioners.
2. HCP Packaging
HCP Packaging is a market pioneer in the development, production, and design of primary packaging containers for the fragrance, skincare, color cosmetics, and toiletry sectors. The company offers global production for global brands and has sizable manufacturing facilities in North America, Asia, and Europe.
May 2022: Carlyle purchased a 100% share in HCP Packaging, the top global provider of primary cosmetic packaging.