10.13.16
The Cosmetic Packaging Market will account revenue of US $33 Billion by 2024, according to Transparency Market Research.
The fact that cosmetic product manufacturers are focusing on on "innovative and alluring packaging" has significantly increased in the past few decades, and is a factor in the market's growth, the research firm says.
Transparency Market Research estimates that the global cosmetic packaging market will exhibit a 4.4% CAGR over the period between 2016 and 2024. As a result, the market, which had a valuation of US$23 bn in 2015, will rise to US$33 bn by 2024.
In terms of packaging material, the market is chiefly dominated by the plastics segment. The segment is expected to retain dominance throughout the forecast period as well and account for an estimated 56.3% of the global market's revenues by end of 2016. In terms of geography, the market for cosmetic packaging in Asia Pacific is expected account for a 32.5% of the global market in 2016 and remain the dominant regional market throughout the forecast period.
The fact that cosmetic product manufacturers are focusing on on "innovative and alluring packaging" has significantly increased in the past few decades, and is a factor in the market's growth, the research firm says.
Transparency Market Research estimates that the global cosmetic packaging market will exhibit a 4.4% CAGR over the period between 2016 and 2024. As a result, the market, which had a valuation of US$23 bn in 2015, will rise to US$33 bn by 2024.
In terms of packaging material, the market is chiefly dominated by the plastics segment. The segment is expected to retain dominance throughout the forecast period as well and account for an estimated 56.3% of the global market's revenues by end of 2016. In terms of geography, the market for cosmetic packaging in Asia Pacific is expected account for a 32.5% of the global market in 2016 and remain the dominant regional market throughout the forecast period.