Market Research Future published a half cooked research report on global cosmetic packaging market. The global cosmetic packaging market is expected to grow over the CAGR of around 5.2% during the period 2016 to 2022.
The Global Cosmetic Packaging Market is competitive due to the high growth potential in the market and the presence of many small and large vendors. The key drivers of cosmetic packaging are growth on innovative and alluring packaging. Major cosmetics and personal care brands have started considering effective packaging as an important attribute of product marketing. Therefore, the strategy enhanced brand visibility, increased sales, reduced brand recall rates.
The market is majorly influenced by the presence of plastic. It is the most preferred material which is used as packaging by the manufacturers and consumers. The use of plastic ensures the durability of the packaging along with retention of the important minerals and chemical properties of the product. The rising awareness about anti- aging products with the flourishing e-commerce sector in the APAC region is expected to increase the demand of this market.