The Asia Pacific Cosmetic Packaging Market would witness market growth of 5.0% CAGR during the forecast period (2022-2028).
As more consumers become aware of the many items available in the market through social media and online channels, digital transformation is offering profitable opportunities. The rivalry in the customized and specialized cosmetic packaging industry is increasingly heating up as a result of the fast digital revolution. To grow their market presence and obtain a competitive advantage over established companies, emerging cosmetic brands are implementing novel packaging options.
Also, businesses have begun to concentrate on the cost-sensitive middle-class consumer segment. As a result, corporations have begun to create compact packaging for their products, influencing the packaging industry's demand. Due to the advent of innovative packaging methods, the advent of eco-friendly and sustainable packaging has had a significant impact on the overall expansion of the sector. The market's growth is also aided by innovation in the product lines of the players. For example, the recent arrival of anti-aging creams has resulted in an increase in the number of packaging materials.
In India, the online shopping channel has risen at an exponential rate during the last decade. The sector's rise was fueled by multi-brand, multi-category merchants, with a focus on electrical devices, appliances, and clothes. However, in areas such as beauty, personal care, healthcare, and home furnishings, the online channel in the country is now seeing a growth in specialized e-retailers. These specialty merchants have a vast selection in their respective categories, offering a wide range of international and domestic brands that were previously unavailable to consumers in the country.
The cosmetics and personal care market in India is one of the fastest expanding consumer goods industries, with a lot of room for foreign investors. In India, the personal care and cosmetics market has continued to grow, with more shelf space in retail stores and boutiques offering cosmetics from across the world. The Indian cosmetics and beauty goods market has been steadily growing in recent years. Body care, hair care, face care, hand care, and color cosmetics are the five key categories in which it is classified. The beauty and personal care (BPC) sector in India is valued at an estimated USD 8 billion. India's per capita spending on beauty and personal care is increasing in lockstep with the country's GDP.
The China market dominated the Asia Pacific Cosmetic Packaging Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,869.5 million by 2028. The Japan market is poised to grow at a CAGR of 4.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 5.7% during (2022 - 2028).
Based on Material Type, the market is segmented into Plastic, Glass, Metal, and Paper Based. Based on Application, the market is segmented into Skin Care, Hair Care, Perfume, Oral Care, and Others. Based on Packaging Type, the market is segmented into Bottles, Dispensers, Tubes, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cosmetic Packaging Market is Projected to reach USD 47.7 Billion by 2028, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Albéa Group, HCP Packaging (Shanghai) Co. Ltd., TriMas Corporation, Graham Packaging Company, Amcor Plc, Sonoco Products Company, Huhtamaki Oyj, Berry Global Group, Inc., Aptar Group, Inc., and Gerresheimer AG.
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