VALLEY COTTAGE, New York, October 9, 2017 /PRNewswire/ --
Several categories in cosmetics such as skin glossing, skin care, makeup, hair care etc., have generated huge prospects for growth along with many opportunities for investment in the cosmetic packaging sector. Significant changes in the dynamics of the global market in the field of cosmetic packaging has forced several manufacturers and key players involved in the cosmetic packaging industry to develop innovative ideas and offerings. Cosmetic tubes are one of the innovative ideas that have a multifold advantage. They can be used to store cosmetics, they protect the inner product owing to double packaging layers, namely primary and secondary, they are used to transport the product to the market or the end user and they can be used to market the cosmetic product, create brand name and image and display necessary information about the product such as pricing, contents, expiry date etc. Apart from the benefits of cosmetic tubes, factors such as rising young population, growing awareness of various cosmetic products and brands, new innovations in products enhancing their performance, use of growing social media to create awareness and reach the target audience, celebrity endorsements to increase the rate of penetration of a particular cosmetic brand, trend of economic packaging, leak-proof and light weight improving handling and availability in different volumes are driving the growth of the global market for cosmetic tubes. However, large quantity of preservatives to conserve the product is a major restraint to the growth of the global market for cosmetic tubes. Also, mold formation due to condensation of water on the lid is a major challenge to the growth of the market.
The exhaustive research report on "Cosmetic Tubes Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)" by Future Market Insights unveils various facets of the global cosmetic tubes market which can be used to grasp opportunities with a view to expand in the future. According to this report, the global cosmetic tubes market is expected to grow at a moderate CAGR of 4.8% throughout the period of assessment, 2017-2022.
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4 Key Highlights on Global Cosmetic Tubes Market
- By application category, the make-up segment is the most lucrative segment from an investment point of view. This segment is anticipated to grow at the highest CAGR of 6.7% throughout the period of assessment and poised to gain high BPS by the end of the assessment period
- The skin care segment in the application category is the largest segment in terms of value share. However, this segment is projected to grow at a slower pace in the coming years. In 2017, this segment led the market global market by reflecting a market share of more than 32% and this trend is expected to continue over the period of forecast
- 50-100 ml segment in the capacity type category is highly attractive and the largest segment in terms of market share. This segment is anticipated to register a high CAGR during the assessment period
- Asia-Pacific excluding Japan (APEJ) region is the largest among others and provides several opportunities to manufacturers and distributors of cosmetic tubes. The main aspect boosting the growth of cosmetic tubes in this region is the growing young population and increasing disposable income. The APEJ cosmetic tubes market is projected to register a CAGR of 5.9% throughout the period of assessment, 2017-2022, followed by North America and Europe.
Global Cosmetic Tubes Market: Competitive Assessment
The global cosmetic tubes market research report has included details of several key players operating in this market. IntraPac International Corporation, Hoffmann Neopac AG, Tubopress Italia SPA, Huhtamaki Oyj, Berry Global Group, Inc., LINHARDT GmbH & Co. KG., Montebello Packaging, CCL Industries Inc., Essel Propack Limited and Albéa Beauty Holdings S.A are profiled in this research report.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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SOURCE Future Market Insights