Published on : Nov 14, 2019
A report titled “Metal Cosmetic Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.” The report forecasts the market to grow leaps and bounds during the forecast period due to rising consumption of consumer care products. With increasing need for convenience has stemmed the adoption of small pack sizes. Moreover, metal is highly likely to replace plastic in the cosmetic packaging industry due to rising environmental concerns. These changes in consumer behavior and rising awareness regarding plastic pollution have driven the growth of the metal cosmetic packaging market.
The report on the metal cosmetic packaging market talks about the new developments that have potential growth opportunities for the market players. It further highlights the key growth drivers and states the impact of changing consumer preferences on the business strategies deployed by the market players on the metal cosmetic packaging market.
Use of Packaging as Form of Communication to Drive Growth
The packaging plays a key role in marketing a cosmetic product. Numerous cosmetic companies use it as a key marketing strategy to grab consumer attention. Moreover, consumers are highly likely to purchase cosmetics considering the nature of its packaging. These factors have highly contributed to the expansion of the global metal cosmetic packaging market. Metal cosmetic packaging has also gained popularity as one of the most durable recyclable packaging solutions.
Furthermore, as the global cosmetics sales rise, it becomes imperative for the manufacturers to analyze the implications of the packaging on the nature. Cosmetic manufacturers are using packaging as a way of reaching out to more customers by creating a package identity. They are capitalizing on the increasing demand for attractive packages by exploring the potential of digital printing. Use of such decorative techniques is metal packaging is anticipates help the manufacturers reap huge sums in the metal cosmetic packaging market.
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In bid to enhance their sustainability quotient, manufacturers are increasingly developing lightweight metal cosmetic packaging solutions. These products not only help in reducing the carbon footprints but also enable smooth transit of the cosmetic product. The rise in popularity and the production of these packages is estimated to be instrumental in the global metal cosmetic packaging market’s expansion. Apart from this, the skin care industry is anticipated to make a significant contribution to the market’s expansion due to the rising preference for skin care products.
The hair care sector is also gradually adopting the metal cosmetic packaging solutions and is likely to emerge as a major sector contributing to the metal cosmetic packaging market’s growth during the forecast period. As a result, numerous new players in are trying their luck in the market by producing metal cosmetic packages for the hair care industry.
The metal cosmetic packaging market features a highly fragmented vendor landscape with the leading players holding around 15% of the market’s share. In order to sustain their position in the market, key players are incorporating innovative designs in their packages and enhancing their global reach through acquisitions and collaborations. Some of the key players operating in the metal cosmetic packaging market include Aptar Group Inc., Libo Cosmetics Company, HCP Packaging, and Crown Holdings, Inc.
Asia Pacific to be a Lucrative Region for the Market’s Growth
On the regional front, Asia Pacific is anticipated to dominate the global metal cosmetic packaging market. The booming cosmetics industry is the leading cause behind the market’s growth in this region. Countries such as Korea, India, China, and Japan hold a major share in the market’s expansion due to increasing use of cosmetics in these regions. Moreover, stringent packaging laws laid down by the governments in these regions have also played a key role in supporting the metal cosmetic packaging market’s growth.