The global cosmetics packaging market size is anticipated to reach USD 39.32 billion by 2027 owing to the rapidly augmenting beauty industry worldwide. Cosmetics packaging plays a pivotal role in the marketing of different cosmetics products by drawing the attention of the consumers. More information on the market is provided in a recent report published by Fortune Business Insights™ titled, “Cosmetics Packaging Market Size, Share & Industry Analysis, By Material (Glass, Paper & Board, Plastic, Metal, and Others), By Application Type (Skin Care, Haircare, Make-up, and Nail care), and Regional Forecast, 2020-2027.” According to this report, the market value stood at USD 30.37 billion in 2019 and is poised to register a CAGR of 4.03% between 2020 to 2027.
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What are the Objectives of the Report?
The report offers a comprehensive overview of the market and focuses on growth drivers, restraints, upcoming opportunities, and possible challenges of the market. The report also throws light on the market segmentation based on factors such as material, application, and geography with the name of the leading segment and its attributed factors. It also highlights the names of players functioning in the market and the major strategies adopted by them to gain a competitive edge in the market. Furthermore, the report provides a list of significant industry developments, current trends prevalent in the market, and other interesting insights that will help investors to make financial and beneficial decisions for the market.
Rise in Beauty Standards to Propel Growth
Various factors promoting the cosmetics packaging market growth include a rise in beauty standards, an increasing variety of cosmetics worldwide, and the rising disposable incomes of people. On the contrary, environmental concerns and animal-cruelty cases pose challenges for the market. Nevertheless, the trend of green packaging and conventional packaging solutions with customizable options are expected to create lucrative growth opportunities for the market in the forecast period.
Information source: https://www.fortunebusinessinsights.com/cosmetic-packaging-market-102130