The Latin America cosmetic packaging market is anticipated to expand at a CAGR of 4.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to growing investments on the development of sustainable packaging products.
Cosmetic products are intended for body cleansing, beautifying, and promoting or enhancing appearance without altering the body's structure or functions. The main purpose of a cosmetic container is to protect the product while it is in storage or being transported.
Cosmetic packaging protects the product from deterioration and helps to preserve its quality. It must be appealing to customers, as it helps the product to sell itself. The materials used for cosmetic containers are of environmental concern. The container must protect the product from environmental elements and should be eco-friendly. Manufacturers are looking for cosmetic packaging that is recyclable, which are better for both environment and cost efficiency.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for cosmetics owing to shifting trends toward grooming among people is excepted to boost the market growth.
- Rising innovation in packaging can play a key role in fueling the growth of the market.
- Rapid growth in the e-commerce sector and rising Internet penetration in rural as well as urban areas are expected to positively impact the Latin America cosmetics packaging market.
- High price of raw materials can hinder the growth of the market during the forecast period.
- Growing number of millennials on social media is excepted to drive the sales of cosmetic products, stimulating the growth of the market.
- Leading brands are launching new products to support sustainable packaging, which are expected to creates opportunities for the market growth.
Scope of the Report
The report on the Latin America cosmetic packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cosmetic Packaging Market - Latin America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Material Types (Plastic, Glass, Metal, Paper), Product Types (Plastic Bottles and Containers, Glass Bottles and Containers, Metal Containers, Folding Cartons, Corrugated Boxes, Tubes and Sticks, Caps and Closures, Pumps and Dispensers, Droppers, Ampoules, and Flexible Plastic Packaging), Cosmetic Types (Hair Care, Color Cosmetics, Skin Care, Men’s Grooming, and Deodorants)
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Geographical Scope
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Brazil, Mexico, Argentina, and Others
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Amcor PLC, Albea Group, Aptar Beauty+Home, Cosmopak Corporation, and Hcp Packaging Co., Ltd.
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Latin America Cosmetic Packaging Market Segment Insights
Plastic segment to account a major market share
Based on material types, the market is divided into plastic, glass, metal, and paper. The plastic segment is anticipated to account for a major market share during the forecast period. Low cost of plastic is one of the major factors driving the segment growth. Moreover, factors such as recyclability and sustainability makes it a widely used material for the cosmetics packaging.
Plastic bottles and containers segment to dominate the market
Based on product types, the Latin America cosmetic packaging market is segregated into plastic bottles and containers, glass bottles and containers, metal containers, folding cartons, corrugated boxes, tubes and sticks, caps and closures, pumps and dispensers, droppers, ampoules, and flexible plastic packaging. The plastic bottles and containers segment is projected to dominate the market owing to its durability. Plastic bottles are widely preferred due to its light weight, which makes them easy to carry, and are not prone to breakage.
Skin care segment to account a significant market share
Based on cosmetic types, the market is segmented into hair care, color cosmetics, skin care, men’s grooming, and deodorants. The skin care segment is expected to hold a significant market share owing to the increasing demand for personal care & grooming products. Rising change in the lifestyle and buying patterns and growing demand for wellness and grooming and personal care products, especially in the male population, are expected to create opportunity for the skin care segment.
The market in Brazil to exhibit a high CAGR
Based on geographies, the Latin America cosmetic packaging market is classified as Brazil, Mexico, Argentina, and others. The market in Brazil is anticipated to exhibit a high CAGR during the forecast period. Brazil exports perfumery, cosmetic, and bath products to Argentina, Colombia, and Chile, and imports cosmetics from France, Argentina, and the US. The country remains dependent on imports for finished products. The Government of Brazil has introduces import taxes to localize the production, which is expected to help local player in the country.
Segments
Segments Covered in the Report
The Latin America cosmetic packaging Market has been segmented on the basis of
Material Types
- Plastic
- Glass
- Metal
- Paper
Product Types
- 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
- Flexible Plastic Packaging
Cosmetic Types
- Hair Care
- Color Cosmetics
- Skin Care
- Men’s Grooming
- Deodorants
Geographies
- Brazil
- Mexico
- Argentina
- Others
Key Players
- Amcor PLC
- Albea Group
- Aptar Beauty+Home
- Cosmopak Corporation
- Hcp Packaging Co., Ltd.
Competitive Landscape
Key players operating in the Latin America cosmetic packaging Market includes Amcor PLC, Albea Group, Aptar Beauty+Home, Cosmopak Corporation, and Hcp Packaging Co., Ltd.
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