The skin care cosmetics packaging submarket will see the fastest growth among the applications submarkets, according to Visiongain, driven by the ongoing anti-aging, male grooming and premiumization trends in the cosmetics market. In terms of materials, plastics will see the strongest growth in the next decade, thanks to the cost-effectiveness, good performance, reliable protection, color versatility, flexibility and easy transportation and storage that plastics offer.
Visiongain predicts that China will take over the U.S.’s lead position in the cosmetics packaging market by 2025, and India will exhibit the most significant growth in the forecast period.
On the downside, weak economic situations in some of the major cosmetics packaging markets are blocking the growth potential of the cosmetics market in the near future. Increasing emphasis on sustainability of packaging can be hard for some cosmetics products, especially luxury brands. Fast pace in the cosmetics market and intense competition can put significant pressure on packaging providers, and a key challenge for packaging manufacturers is to meet the increasingly complex packaging requirements from customers.