Global Bulk Packaging Market for Cosmetics Industry is expected to grow with the CAGR of 5.14% from 2016 to 2022, and with this it is predictable to reach USD 10666.17 million by 2023.
Global bulk packaging market for cosmetics industry is expected to be driven by the growth in the end-use segments such as skin care, hair care, baby care etc. The widespread use and the growing variety of cosmetics products for men, especially body fragrances is also expected to boost the growth of the market. The global aging population is driving the recent surge in cosmeceuticals, which are functional cosmetic products that offer additional therapeutic benefits and thereby is driving the need for bulk packaging market for cosmetics industry. However, the growth of this market is expected to be hampered by the stringent regulations on packaging material waste and recycling.
Global bulk packaging market for cosmetics industry has been segmented on the basis of region as North America, Europe, Asia-Pacific and Rest of World. Asia-Pacific accounted for the largest market share of 37% in 2016 and is projected to grow at the highest CAGR during the forecast period. Factors such as expanding product lines for cosmetic products based on affordability and e-retailing are driving the need of bulk packaging market for cosmetics industry in the Asia-Pacific region. In the region, China is expected to grow the highest with the flourishing demand for premium cosmetics. The Europe region is also expected to grow rapidly owing to huge investments into research and development by the cosmetics industry.
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The key players of global bulk packaging market for cosmetics industry report include Berry Plastics Group, Inc. (U.S), BWAY Corporation (Georgia), Georgia-Pacific LLC (U.S.), Greif incorporated (U.S), Mauser Group B.V. (Germany), Menasha Corporation (U.S.), Rehrig Pacific Company (U.S.), Remcon Plastics, Inc. (U.S.), SchoellerAllibert (Netherlands), Westrock Company (U.S.) and others.
The major players in the market have adopted various growth strategies such as mergers & acquisition, expansion, new product development and partnership and collaboration. Amongst these, mergers & acquisitions is the key strategy adopted, extensively by the players to achieve operational efficiencies and increase the number of offerings to the customer. For Instance, in June 2017, Westrock Company (U.S.) acquired five facilities from the U.S. Corrugated Holdings, Inc. in Ohio, Pennsylvania, and Louisiana. This acquisition was made with the objective of expanding the operations, both by volume and in terms of geographical presence.
Bulk Packaging Market for Cosmetics Industry by Segment
The global bulk packaging market for cosmetics industry has been segmented on the basis of plastics, metal, paper & paperboard, and others. The plastic is expected to account for the largest market share over the forecast period. The growth of plastic can be attributed to various factors such as average gains associated with the material over steel drums in terms of cost, weight and corrosion resistance.
On the basis of the product, the market is segmented into pails, drums, bulk boxes, shipping sacks, material handling containers, and others. Amongst these, pails are expected to account for the the largest market share in 2016 and are expected to grow at the highest CAGR over the forecast period. Pails are used largely with a wide range of mid-sized applications. Apart from cosmetics, they are also used across applications such as paints & coatings and food & beverages. Pails segment is expected to capture the largest market share due to their performance and cost advantages in small volume applications.
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The global market is segmented on the basis of geography: Asia Pacific, North America, Europe, and the Middle East & Africa. Asia Pacific is expected to lead the Global Bulk Packaging Market for Cosmetics Industry, followed by Europe and North America region. In Asia Pacific region, factors such as expanding product lines for cosmetic products based on affordability, e-retailing are driving the need for bulk packaging market for the cosmetics industry. Owing to the increasing disposable income, consumers are expected to increase their spending on premium cosmetics and personal care products. The increase in the number of manufacturing facilities for cosmetics in the region is also driving the growth of the bulk packaging market for the cosmetics industry. In Asia Pacific region, China is expected to dominate the growth of the market. China is the world’s largest market for beauty products, with the flourishing demand for premium cosmetics. As employees in China are increasingly getting better educated and better paid, there is more expenditure on consumption. They are able to pay attention to health, maintaining personal hygiene and grooming their appearance, thereby driving the need for the bulk packaging market.
Scope Of Report
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global bulk packaging market for cosmetics industry, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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