LOS ANGELES, April 7 (Korea Bizwire) — The global cosmetic tubes market size is poised to be worth around US$ 3.4 Bn by 2026
The cosmetic tubes market is anticipated to grow at a CAGR of around 4.6% in terms of revenue during the forecast period 2019 to 2026.
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Drivers and Challenges of Market
The key contributors to the growth of the industry are accelerated urbanization, and increasing consumer disposable incomes. Urbanization was responsible for improving disposable incomes and sensitizing the supply of various cosmetics products, thus providing a range of opportunities for players in the industry and increasing demand for cosmetic tubes. In order to ease customer cosmetic product demand, industry leaders search for more efficient and simpler approaches to provide personalized solutions using simple and compact items like cosmetic tubes. The cosmetic tubes have barrier properties, which shield the substance from pollution, are another important factor in promoting the growth of a cosmetic tubes industry.
Plastic Segment dominated the Market
Plastic material type segment are the largest market share, due to its advantages, in turn plastics are commonly used in producing cosmetic tubes. The plastic substance does not react to the cosmetic product within a tube and guards against chemical agents from outside. It is expected that this segment will lead the global market with a strong market share over the next few years and will rise in a healthy CAGR amid the forecast period.
In Asia-Pacific the demand for cosmetic tubing is expected to grow significantly. This is attributed largely to the emergence country such as China and Japan of a large customer base in cosmetics market. In addition, the region includes a variety of plastics suppliers which are essential to cosmetic tubes and which makes it a prominent driver for Asia-Pacific demand. In developing countries such as India and China, the improvement of life style and living standards is an important factor for development. The new esthetic range of eco-plastic tube packaging is scheduled to be introduced for customers in the Asia Pacific region. On the other hand, end-have undercuts in key sections of the Middle East & Africa, such as South Africa and Saudi Arabia, from conventional packaging to creative packaging that eventually aim to raise the demand in the near future.
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About The Market
Cosmetic products such as facial makeup, lipstick, and eye care have provided the whole of beauty packages and wide variety of investment opportunities. Several shifts in consumer conditions have pressured cosmetic packaging producers to opt successfully with a wide variety of items. Cosmetic tubes are an important method for the production and delivery of cosmetic products. A variety of tubes in translucent or laminated shapes for the application of luxurious or natural cosmetics are considered to be on the international cosmetical tube market. Owing to changing habits and a growing number of women entering the workplace, the beauty industry has steadily grown. In today’s new “metrosexual” man the phenomenon of personal hygiene and self-love is not considered the only realm of women.
Key Players & Strategies
Owing to the vast number of players the cosmetic tubes industry is extremely competitive. In turn, creativity (design, technologies and implementation) and collaborations will have a sustainable competitive edge. Therefore, new entrants are equally likely to reach the market and increase competition further. As a result, a strong strategic approach marked by investment, mergers and acquisitions and a high demand on R&D was established for the industry incumbents.
Major players include in this report are LINHARDT GmbH & Co. KG, East Hill Industries, LLC., Berry Group Inc., Hoffmann Neopac AG, Essel Propack Limited, Albéa Beauty Holdings S.A, Montebello Packaging, CCL Industries Inc., and Others.
February 2018— Berry Global Group, Inc. bought the debt-free, cash-free subsidiary Clopay Plastic Products Company, Inc. of Griffon Corporation for US$ 475 Mn. Clopay’s takeover is closely associated with core business plans of the organization.
Cosmetic Tubes Market By Material
Cosmetic Tubes Market By Application
- Hair Care
- Skin Care
Cosmetic Tubes Market By Geography
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of MEA
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Source: Acumen Research and Consulting via GLOBE NEWSWIRE