ALBANY, New York, Oct. 12, 2017 (GLOBE NEWSWIRE) -- The global cosmetics jars packaging market is driven primarily by the steady growth of the global cosmetics sector and is likely to exhibit a steady growth trajectory in the 2017-2022 forecast period due to the growing demand for product innovation in the cosmetics packaging sector. The Asia Pacific except Japan market is likely to remain vital for leading players in the global cosmetics jars packaging market due to the growing commercial potential of consumers in the rapidly developing economies in the region. The global cosmetics jars packaging market is likely to reach a valuation of more than US$3.9 bn by the end of 2017 and further rise to more than US$5 bn by 2022. The market is expected to exhibit a solid 5.1% CAGR between 2017 and 2022, according to Transparency Market Research.
Here are the key insights into the growth trajectory of the global cosmetics jars packaging market:
Growing demand from the cosmetics sector has led to product differentiation in packaging emerging as a major strategy for cosmetics manufacturers. Attractive packaging can often make the difference in today’s ultra-competitive cosmetics sector, making the cosmetics jars packaging market vital for global industry players. The intense competitiveness of the global cosmetics sector has thus led to steady growth of the cosmetics jars packaging market in recent years and is likely to enable smooth growth of the market in the coming years.
The growing demand for cosmetic formulations for maintaining a better appearance as well as protection against growing pollution is likely to enable steady growth of the cosmetics jars packaging market in the coming years. Urban centers have emerged as the key demand centers for the global cosmetics sector due to the growing disposable income of urban consumers. The growing pollution levels in urban areas have thus become a key driver for the global cosmetics jars packaging market, as vehicular and industrial pollution has become a major concern in urban areas.
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Below 50 ml capacity cosmetics jars are likely to remain the leading segment of the global cosmetics jars packaging market in the coming years due to the growing popularity of small and easily disposable packaging options in the cosmetics sector. By material, plastics are likely to dominate the global cosmetics jars packaging market due to their cheap costs and ease of use. Plastics can be produced in a number of shapes, which makes them valuable for companies looking to use the packaging as a way to assert the company’s identity.
Geographically, Asia Pacific except Japan is the leading contributor to the global cosmetics jars packaging market. The APEJ market is likely to rise to a valuation of more than US$1.8 bn by 2022, exhibiting a robust 6.6% CAGR from 2017 to 2022. The Asia Pacific except Japan market for cosmetics jars packaging is driven primarily by the growing disposable income of consumers in developing economies such as China, India, Indonesia, Malaysia, Korea, and Thailand. Europe is also likely to be a dominant contributor to the global cosmetics jars packaging market, with the regional market likely to be valued at close to US$1.4 bn by 2022.
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Competitive Dynamics
Leading players in the global cosmetic jars packaging market include RPC Group Plc, Albea SA, Gerresheimer AG, Libo Cosmetics Company Ltd., Quadpack Industries, HCP Packaging, P. W. Masterchem S.J., Raepak Ltd., Akey Group LLC, and Bonex d.o.o.
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