Cosmetic Packaging Market, By Type (Plastic, Glass, Metal, Paper), By Application (Hair Care, Nail Care, Skin Care, Make-Up), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Throughout the forecast period, the market is expected to be driven by a rising youth population, creative package designs, and changing packaging styles that reflect the growing demand for cosmetics. For example, according to UN.org, there were over 1.2 billion youth in the world between the ages of 15 and 24 in 2015. By 2030, however, that number is expected to have increased by 7% to almost 1.3 billion. Also, the target market grew due to the rising demand for cosmetics brought on by changing grooming patterns for both genders.  Additionally, package innovation is a critical factor in drawing customers and promoting target market expansion. Additionally, the rise of new competitors in the cosmetics market spurred increased product and packaging innovation in order to gain a competitive advantage, a factor that propels the target market's expansion. The growth of e-commerce and the increasing use of the Internet in both urban and rural regions have had a significant impact on the demand for cosmetics. For example, global e-commerce sales increased by 13% in 2017 to reach an estimated $29 trillion, according to UNCTAD. Additionally, millennials growing social media presence facilitates their exploration of a broader range of international cosmetic companies, which in turn is propelling the market for cosmetic packaging.