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Global Makeup Packaging Market to Surpass US$ 11,025.71 Million by 2027 – Coherent Market Insights

November 6, 2019

SEATTLE--(BUSINESS WIRE)--Nov 6, 2019--

The global makeup packaging market was valued at US$ 6,786.0 million in 2018 and is expected to exhibit a CAGR of 5.5% over the forecast period (2019 – 2027).

Key Trends and Analysis of the makeup packaging market:

Rapid industrialization, changing standards of living, coupled with rising awareness about personal grooming products is expected to increase the consumer demand for makeup products. For instance, according to the Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018.

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Furthermore, increasing spending on makeup and personal care products due to rising disposable income is expected to propel demand for attractive and user-friendly packaging. Increasing expenditure on personal care products worldwide is expected to drive growth of the packaging industry. For instance, according to the International Trade Administration (ITA), in 2014, per capita expenditure on cosmetic products was valued at US$ 139 in the U.S., US$ 171 in South Korea, and US$ 174 in Japan. Therefore, high per capita spending on personal care and cosmetic products is expected to drive growth of the makeup packaging market.

Growing preference for makeup and personal care products over the past few years has resulted in higher demand for makeup packaging products. For instance, according to the International Trade Administration (ITA), U.S. Department of Commerce, Indian Beauty and Personal Care (BPC) industry was valued at US$ 8 billion in 2016, and it is expected to exhibit a CAGR of 5-6% during the forecast period (2017-2021).

Various key players are focused on strategies such as mergers and acquisitions in order to gain a strong foothold in the global market. For instance, in April 2018, Bain Capital Private Equity acquired World Wide Packaging LLC, a leading provider of cosmetics packaging components, formulation/filling technologies, and plastic tubes. Through this acquisition, the company expects to offer innovative solutions to the beauty brands in the U.S. Moreover, in June 2018, Novio Packaging Group BV acquired Zeewolde, a Netherland-based specialist company in primary packaging for personal care products and private label companies. The acquisition is intended to expand sales revenue of Novio Group BV with Zeewolde’s exclusive product ranges.

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Key Market Takeaways:

Report Segmentation:

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20191106005540/en/

CONTACT: Contact Us:

Mr. Raj Shah

Coherent Market Insights

1001 4th Ave.

#3200

Seattle, WA 98154

Tel: +1-206-701-6702

Email:sales@coherentmarketinsights.com

KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FASHION PACKAGING COSMETICS RETAIL MANUFACTURING OTHER MANUFACTURING

SOURCE: Coherent Market Insights

Copyright Business Wire 2019.

PUB: 11/06/2019 10:03 AM/DISC: 11/06/2019 10:03 AM

http://www.businesswire.com/news/home/20191106005540/en