How Big is the Plastic Cosmetic Packaging Industry?
The Europe plastic cosmetic packaging market is set to
gain traction from the increasing demand for packaging made of recyclable and
eco-friendly materials. In January 2020, for instance, Colgate-Palmolive
unveiled a new range of toothpaste named Smile for Good in Europe. It comes in
fully recyclable tubes and is certified vegan. The company wants to share the
recyclable plastic packaging technology with its rivals. This information is
given by Fortune Business Insights™ in a new study, titled, “Europe Plastic
Cosmetic Packaging Market, 2021-2028.” As per the study, the market size
was USD 1,266.7 million in 2020 and is projected to reach USD 1,584.0 million
by 2028, exhibiting a CAGR of 2.9% during the forecast period.
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Report Coverage:
We have utilized econometric models for
short-term forecasting. But, technological models were used for long-term
estimations. These are based on the business principles, economic outlook, regulatory
frameworks, and the technology landscape. We have also conducted interviews
with domain experts, suppliers, buyers, and technology providers to get a
holistic picture of the market for Europe plastic cosmetic packaging.
Segmentation:
Hair Care Segment Procured 23.0% Share
in 2020
Based on the application, the market is
divided into fragrances & deodorants, makeup, hair care, and skin care.
Amongst these, the hair care segment generated 23.0% in terms
of the Europe plastics cosmetic packaging market share in 2020. This growth is
attributable to the rising usage of hair serums and hair colors among people.
By the application, it is segregated into polyethylene, polypropylene,
polyethylene terephthalate, and others. Lastly, based on the product type, the
market is classified into bottles, tubes, jars & containers, and others.
List of the Leading Companies Profiled
in the Europe Plastic Cosmetic Packaging are:
- Amcor plc (Switzerland)
- Huhtamäki Oyj (Finland)
- ALPLA Group (Austria)
- Albea Group (France)
- Aptar, Inc. (U.S.)
- Berry Global (U.S.)
- HCP Packaging (China)
- Berlin Packaging (U.S.)
- DS Smith (UK)
- Cosmopak Ltd. (U.S.)
- LIBO Cosmetics (Taiwan)
- Other Key Players
Drivers & Restraints:
High Demand for Derma Beauty and Skin
Care Products to Bolster Growth
The high demand for hair colors,
fragrances, night skin repair creams, and sunscreens is set to accelerate the
Europe plastics cosmetic packaging market growth in the near future. As per a
report by Cosmetics Europe, Germany held the largest cosmetics and personal
care industry worth €14 billion in 2019. Also, the increasing demand for derma
beauty and skincare products would aid growth. However, the rising usage of
single-use plastics is set to increase the amount of waste. Hence, government
bodies are implementing various norms to encourage industries to use
sustainable packaging solutions, such as paper, paperboards, and glass. This
factor is expected to hinder the growth of the Europe plastic cosmetic
packaging industry.
Competitive Landscape:
Key Players Focus on Developing
State-of-the-art Packaging Solutions to Compete in Market
This market houses a large number of
prominent companies that are majorly aiming to introduce environmentally
friendly packaging solutions to keep up with the high demand in the region.
Below are the two latest industry
developments:
- October 2020: L'Oréal announced the
creation of a sustainable cosmetics bottle made out of polyethylene from
recycled and captured carbon emissions. The company wants to commercialize
and use this technology in conditioner and shampoo bottles by 2024.
- November 2020: Beiersdorf joined hands with the Fraunhofer Institute for Process Engineering and Packaging (IVV) and Werner & Mertz to co-develop cosmetic packaging made of old plastics. This standard can be used by both cosmetic manufacturers and recyclers.
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