Extraordinary growth in the cosmetic packaging market
The global cosmetic packaging market has witnessed extraordinary growth during the past few years, owing to high graphics printing, chic design, extended shelf-life, enhanced shelf-appeal, and sustainability features, which are expected to boost the demand for cosmetic packaging market during the forecast period.
The hair care segment is anticipated to expand at the highest CAGR of 5.2% during the forecast period. The skin care application segment is expected to dominate the overall market throughout the forecast period by value and volume. The recent trends in the global cosmetic packaging market show that the prices are steadily falling due to the rising competition between market players. This has led to the increasing penetration and rise in per capita consumption of cosmetics worldwide.
The rising consumer demand for multifunctional applications and organic cosmetics is the major consumption trend observed in the cosmetic packaging market. Rising health care awareness and negative consumer perception towards the harmful effects of chemical-based cosmetic packaging are influencing the consumer demand for organic cosmetics.
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