Consumer preferences and tastes are key factors affecting consumer purchasing decisions regarding cosmetics products. Cosmetics were regarded as luxury items in the past but recently, they have been playing an important role as a part of consumer goods globally. Due to the rising affluence and the growing consciousness about grooming and appearance, among individuals, the potential of the cosmetics market is growing. There are more working women in the society than before and they have more purchasing power and higher self-esteem than in the past. In addition, technological advances have permitted companies to create multi-functional cosmetic products, which is expected to boost the market growth further.
The end-use segments for cosmetics market includes skin care, hair care, baby care etc. The growth of skin care and hair care primarily is driving the growth of overall market. The growing concerns for skin cancer and exposure to harmful rays has led to the increasing use of sun care products globally. In addition, the widespread and growing variety of cosmetics products for men, especially body fragrances is expected to augment the growth of the market.
Competitive Analysis
The key players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global cosmetics packaging market were those of mergers & acquisition, followed by expansion. Mergers & Acquisitions are the key strategies adopted by the players to achieve operational efficiencies and increase the number of offerings to the customer. Expansion is also a major strategy adopted by the major players in the global Cosmetic Packaging Market Trends to increase the geographical presence of the company and to widen the product offering.
Segmentation
The Cosmetic Packaging Market Trends can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Materials - Plastic, Paper, Glass, Metal and others
Segmentation by Product - Bottles & Jars, Tubes, Containers, Pouches, Sticks, Roller balls, Dispensers and others
Segmentation by Application - Hair Care, Skin Care, Nail Care, Make-up and others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis
Asia-Pacific accounted for the largest market share in the global Cosmetic Packaging Market Trends. Factors such as expanding product lines for cosmetic products based on affordability, e-retailing are driving the need of packaging for cosmetics industry. Owing to the increasing disposable income, consumers are expected to increase their spending on premium cosmetics and personal care products. The increase in the number of manufacturing facilities for cosmetics in the region, is also driving the growth of the Cosmetic Packaging Market Trends.
Europe region is also expected to grow with the highest growth rate in the global Cosmetic Packaging Market Trends. The cosmetics industry, in Europe region is making heavy investments into research and development. Through extensive R&D, the companies in the region are focusing on the manufacture of products according to the age, gender, ethnicity, geographies and climate, lifestyle, health and wellbeing, which is driving the Europe Cosmetic Packaging Market Trends.
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