Asia Pacific cosmetic packaging market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to innovative package designs, changing style of packaging, and increasing demand for cosmetics owing to the growing youth population.
The cosmetic industry is driven by rising engaged customer base economies such as India, Japan, China, and Indonesia. Moreover, factors such as cosmetic products based on affordability, increasing beauty consciousness in the consumers, and e-retailing are boosting the market.
Consumer spending on cosmetics in the region continues to expand, facilitates the trend toward adopting packaged, processed, and expensive products. Decorative and skincare cosmetics are growing steadily, with medical skincare and facial care observing a rapid demand. Furthermore, growth potential is also provided by anti-aging products and those intended to protect against environmental pollution.
The Covid-19 pandemic had an unpleasant impact on the cosmetic packaging market. The companies moved to source away from China and reconsidering the raw materials that are used in packaging and suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for cosmetics owing to shifting trends of grooming among both gender types is expected to boost the market in the forecast period.
- Innovation in packaging is the key factor for attracting consumers, thereby; increasing new entrants in the cosmetic industry is impacting the overall expansion of the packaging industry in the near future.
- Emerging economies with increasing disposable income and changing lifestyles is estimated to propel the demand of cosmetics and aid in growth of Asia Pacific cosmetic packaging market.
- Growing e-commerce and internet penetration in rural as well as urban areas is projected to fuel the market growth in coming years.
- The introduction of eco-friendly and sustainable packaging has caused upsurge demand and enormous opportunities for cosmetics packaging industry
- R&D investment and technological advancement in cosmetic packaging market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the Asia Pacific cosmetic packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Cosmetic Packaging Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
Material Type (Plastic, Glass, Metal and Paper), Product Type (Plastic Bottles and Containers, Glass Bottles and Containers, Metal Containers, Folding Cartons, Corrugated Boxes, Tubes and Sticks, Caps and Closures, Pump and Dispenser, Droppers, Ampoules and Flexible Plastic Packaging), Cosmetic Type (Hair Care, Color Cosmetics, Skin Care and Men's Grooming, Deodorants)
China, India, Japan, Australia, South Korea, Indonesia, Thailand and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Amcor PLC, Albea Group, Cosmopak Corporation, Hcp Packaging Co.Ltd. And AptarGroup Inc.
Market Segment Insights
The plastic segment is projected to constitute a large market share
Based on material type, the Asia Pacific cosmetic packaging market is segregated into plastic, glass, metal and paper. The Plastic segment is expected to account for a key share of the market during the forecast period owing to its wide application and low-cost properties. In order to pack the product into small units, companies prefer plastic as a packaging material, thus fueling the segment growth. However, paper segment is anticipated to expand at a rapid pace during the forecast period due to its wide application in the market and growing trend of eco-friendly packaging.
Plastic bottles and containers segment is expected to register a substantial CAGR
Based on product type, the Asia Pacific cosmetic packaging market is divided into plastic bottles and containers, glass bottles and containers, metal containers, folding cartons, corrugated boxes, tubes and sticks, caps and closures, pump and dispenser, droppers, ampoules and flexible plastic packaging. The plastic bottles and containers segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to its significant and versatile properties and low cast incurred by the manufacturers.
Skin care segment is expected to grow at a robust pace
Based on cosmetic type, the Asia Pacific cosmetic packaging market is segregated into hair care, color cosmetics, skin care, men's grooming and deodorants. The skin care segment is expected to grow at a rapid pace due to rising awareness about the natural products for skin, which have no adverse effect and are beneficial for skin and ecommerce and advertisement of skin care products.
China is expected to dominate the market
In terms of geography, the market is broadly classified as China, India, Japan, Australia, South Korea, Indonesia, Thailand and Rest of Asia Pacific. China is anticipated to expand at a robust CAGR during the forecast period. Introduction of different varieties of the product and growing adoption by the consumers due to increasing awareness about different benefits such as anti-tanning solution has driven the market in the region are anticipated to boost the market growth over the coming years.
The Asia Pacific cosmetic packaging market has been segmented on the basis of:-
- Plastic Bottles and Containers
- Glass Bottles and Containers
- Metal Containers
- Folding Cartons
- Corrugated Boxes
- Tubes and Sticks
- Caps and Closures
- Pump and Dispenser
- Flexible Plastic Packaging
- Hair Care
- Color Cosmetics
- Skin Care
- Men's Grooming
- South Korea
- Rest of Asia Pacific
- Amcor PLC
- Albéa Group
- Cosmopak Corporation
- Hcp Packaging Co., Ltd.
- AptarGroup Inc.
Key players competing in the Asia Pacific cosmetic packaging market include Amcor PLC, Albea Group, Cosmopak Corporation, Hcp Packaging Co.Ltd. And AptarGroup Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instances,
- In January 2021 - Aptar progresses market-first airless roll-on capsule for LightinDerm Skincare device, the LightinDerm skincare device uses three types of regenerative light to transform and activate photo-active serums and provoke deep skin regeneration and rejuvenation when applied.
- In March 2020, Libo Cosmetics Company LTD released the new packaging specific for lipsticks with fresh summer colours. Those are high-quality aluminium cases in five texture, shiny, matt, pearl anodization, and brushed aluminium with various decoration options like hot stamping, silk screening, laser engraving, debossing and embossing etc.
- In January 2020, Yoshida Cosmeworks Co Ltd, based in Japan, began the production of cosmetic containers using 100% recycled plastic materials, through five years of research work with raw material manufacturers regarding material safety and molding stability.