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What is the Impact of the COVID-19 Crisis on the Metal Cosmetic Packaging Market?

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What is the Impact of the COVID-19 Crisis on the Metal Cosmetic Packaging Market?

July 01
03:10 2021
What is the Impact of the COVID-19 Crisis on the Metal Cosmetic Packaging Market?

Cosmetic Packaging Market
Metal Cosmetic Packaging Market has been estimated to reach ~ 4.4 Bn in 2019, and is expected to expand at a CAGR of ~ 4% in terms of value throughout the forecast period, the increased demand for food, beverages, and consumer packaging is estimated to drive the growth of the metal cosmetic packaging market.

Transparency Market Research delivers key insights on the metal cosmetic packaging market in its published report. In terms of revenue, the global metal cosmetic packaging market is estimated to expand at a CAGR of ~ 4% during the forecast period of 2019–2027, owing to numerous factors, about which, TMR offers thorough insights and forecasts in the metal cosmetic packaging market report.

Metal cosmetic packaging includes packaging formats such as tubes, bottles, pumps & dispensers, and others. The main applications of metal cosmetic packaging are for skin care, hair care, makeup, and nail care products. Container type and material varies, depending upon the cosmetic product form and the capacity required. A majority of manufacturers of metal cosmetic packaging solutions are concentrated in the Asia Pacific region. Improving economic conditions, rising incomes, and increasing beauty awareness in developing markets are the major drivers influencing the demand for beauty products, eventually boosting the demand for metal cosmetic packaging solutions. The focus of metal cosmetic packaging manufacturers on innovative and alluring packaging has significantly increased in the past few decades. Key metal cosmetic packaging manufacturers have started considering effective packaging as a critical attribute of product marketing.

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The global metal cosmetic packaging market has been segmented into product, material, application, capacity, and region. By product, the global metal cosmetic packaging market has been segmented into tubes, bottles, pumps & dispensers, and others. The bottles segment is expected to create the highest incremental $ opportunity of ~ US$ 610 Mn by the end of the forecast period. By material, the global metal cosmetic packaging market is segmented into aluminum and tin. The aluminum segment is anticipated to register a CAGR of ~ 4%, during the forecast period. By application, the global metal cosmetic packaging market has been segmented as skin care, hair care, makeup, and nail care. The skin care segment is expected to create the highest incremental $ opportunity of ~ US$ 680 Mn by the end of the forecast period. By capacity, the global metal cosmetic packaging market has been segmented as lesser than 5 ml, 5 ml – 10 ml, 11 ml – 15 ml, and above 15 ml. By capacity, the 11–15 ml segment is expected to create the highest incremental $ opportunity of ~ US$ 626 Mn, with a market value share of 36.5% in the metal cosmetic packaging market by the end of 2027.

Packaging as a Communication and Promotional Medium

Over the last decade, key players of the cosmetics and personal care industry are mainly focused on marketing. In order to enhance their brand visibility, manufacturers are now emphasizing on packaging as a ‘key differentiator’. This factor has increased the demand for cosmetics, improved the rate of brand recall, and expanded the consumer base. Various companies are exploiting every opportunity to use packaging as a communication and promotional medium by offering a variety of printing options, which has led to a paradigm shift towards the customization of packaging in the cosmetics industry.

Unwrapping the Success Timeline

Through ancient times, metal packaging has been in seen in the form of gold and silver boxes, along with strong alloys. 1200 A.C. marked the start of the production of tin sheets in Bohemia. Following this, the beginning of the 14th century experienced the commencement of the use of tin containers for food packaging. Over the course of time, metal packaging containers found their application in several end-use sectors, including cosmetic packaging. Around 1966, enactment of the Fair Packaging and Labeling Act (FPLA) gained ground, which required all consumer products in interstate commerce to be informatively and honestly labeled, with the FDA imposing regulations on food, drugs, cosmetics, and medical devices. The use of metal packaging for cosmetics has surged phenomenally over the recent past, as cosmetic product manufacturers recognized the need to reduce the use of plastic in packaging.

Decorative Techniques to Boost Appearance

Brand owners are focusing more on improved visuals for metal cosmetic packaging to help clients gain a competitive edge. Many have embraced digital printing that offers opportunities for developing eye-catching colors, and bold and striking visuals. Technological developments in digital printing continue to foster these efforts, bringing key changes across the metal cosmetic packaging landscape.

Sustainability Emerging as a Decisive Factor for Purchase

Most metal cosmetic packaging manufacturers are focusing on providing sustainable and eco-friendly packaging for cosmetics, which has been one of the major factors affecting consumer purchase decisions regarding cosmetics. Recyclable packaging solutions such as metal packaging are therefore gaining immense popularity among cosmetic product manufacturers.

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Lightweighting Trend to Spur Innovation

Lightweighting has been a fast-growing trend within the metal cosmetics packaging industry over the past decade. This trend enables packaging manufacturers and cosmetic brand owners to reduce their environmental footprint, thereby improving their sustainability credentials, while also reducing overall costs. By developing more lightweight metal cosmetic packaging, less material is utilized, whilst reducing the energy consumption for distribution and logistic purposes.

Media Contact
Company Name: Transparency Market Research
Contact Person: Mr. Rohit Bhisey
Email: Send Email
Phone: 5186181030
Address:90 State Street, Suite 700
City: Albany
State: New York
Country: United States
Website: https://www.transparencymarketresearch.com/


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