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The world's population is getting older, and every country is seeing an increase in the number of elderly people. According to the United Nations Department of Economic and Social Affairs, the global population of individuals aged 60 and above is expected to grow by 56% from 901 million to 1.4 billion between 2015 and 2030. By 2050, it's projected to more than double, reaching nearly 2.1 billion. This rise in the aging population has led to a surge in the demand for cosmeceuticals, which are cosmetic products with added therapeutic benefits, as people seek ways to delay the aging process.
Cosmeceuticals, especially those focusing on anti-aging skincare, have become increasingly popular due to the aging population. This trend is directly influencing the bulk packaging market within the cosmetics sector, and this impact is expected to continue in the years to come.
The cosmetic market is divided into various end-use segments, such as skincare, hair care, and baby care. The growth of the skincare and hair care segments is a significant factor propelling the overall market forward. In 2016, skincare held the largest market share, accounting for about 37% globally. This dominance can be attributed to the rising concerns about skin cancer and the harmful effects of sun exposure, leading to an increased global use of sun care products. Additionally, the expanding range of cosmetic products designed for men, including body fragrances, is contributing to the market's growth.
As people age, the desire to maintain a youthful appearance has driven the demand for cosmetic products. Cosmeceuticals, with their added therapeutic benefits, have become a preferred choice for many individuals looking to address aging-related concerns. These products often contain active ingredients that claim to offer specific skincare benefits, such as reducing wrinkles, firming the skin, and improving overall skin texture.
The aging population's impact on the cosmetics market is not only seen in the increased demand for anti-aging products but also in the changing preferences and needs of consumers. The cosmetic industry is adapting to cater to the evolving requirements of an older demographic, creating a shift in product development and marketing strategies. There is a growing emphasis on developing cosmetics that not only enhance beauty but also address age-related skincare concerns.
The skincare and hair care segments remain at the forefront of market growth, driven by consumer awareness of the importance of maintaining healthy skin and hair. With the aging population, there is a heightened focus on products that offer both cosmetic and therapeutic benefits. This includes products with ingredients known for their anti-aging properties, such as antioxidants, collagen boosters, and moisturizers.
The global increase in the aging population is reshaping the cosmetics industry, influencing the development of innovative products and packaging solutions. The market is expected to continue evolving to meet the diverse and expanding needs of consumers seeking cosmetic solutions that cater to their specific age-related concerns. As the demographic landscape continues to change, the cosmetic industry will likely see further advancements in formulations, packaging, and marketing strategies to address the unique challenges and preferences of an aging consumer base.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Material, Product |
Bulk Packaging Market Highlights:
Bulk Packaging Market Overview
Bulk packaging market size was valued at USD 13.24 Billion in 2023. The Bulk packaging industry is projected to grow from USD 14.39 Billion in 2024 to USD 29.87 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.6% % during the forecast period (2024 - 2032).
The tertiary level packaging that contains various personal care products and cosmetics products in bulk quantities by using different distribution channels is commonly known as the bulk packaging market for the cosmetic industry in the global market. Owing to the various benefits provided by the bulk packaging market for the cosmetic industry it is growing tremendously like protection of the high valued cosmetic product from any kind of shocks, drops, vibration and from natural factors as well like dust, wind, and rain. With the advancement in technology and emerging trade policies now trade can be facilitated in different countries as a result the bulk packaging market for the cosmetic industry helps in delivering the cosmetic product across the international borders and within domestic borders.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Regional Analysis
The bulk packaging market for the cosmetic industry in the global market is divided based on region into Asia-Pacific region, Europe region, North America region, and the rest of the world. The largest share in the bulk packaging market for the cosmetic industry in the global market is held by the Asia-Pacific region as this region has expanded its product line in the cosmetic industry that will be available at e-retailing and which will be more affordable. Also, the increase in personal disposable income has increased which drives the demand for the bulk packaging market for the cosmetic industry.
The second-largest market share in the bulk packaging market for the cosmetic industry in the global market is held by the North American region owing to an increase in consumption of cosmetics in various countries like the U.S. and Canada which facilitates higher demand for the bulk packaging market for the cosmetic industry in the global market. The third-largest position in the bulk packaging market for the cosmetic industry is held by the European region owing to the increase in demand for cosmetic products in various fields.
Competitive Landscape:
The most prominent major key players in the bulk packaging market for cosmetic industry in the global market are as follows:
- Berry Global Inc. (U.S.)
- BWAY Corporation (Georgia)
- Georgia-Pacific (U.S.)
- Amcor PLC (Australia)
- Grief (U.S.)
- Menasha Corporation (U.S.)
- Rehrig Pacific Company (U.S.)
- REMCON Plastics Inc. (U.S.)
- Schoeller Allibert (Netherlands)
- Westrock Company (U.S.)
COVID 19 Analysis:
The situation of the global pandemic of COVID 19 has affected the normal lives of the people in the worst situation possible. Now, everyone has to deal with financial crises along with the health situation. Owing to the situation of lockdown and post lockdown situation most of the manufacturing units were shut down which has pushed the economies towards forced recession. The bulk packaging market for the cosmetic industry has also suffered due to this lockdown situation and resulted in the downfall of revenues along with a steep downfall in the profit margin in the global market.
It is expected that the bulk packaging market for cosmetic industry in the global market will recover from this global pandemic situation at the end of the second quarter of the coming year in the forecasted period.
Market Dynamics:
Drivers:
The bulk packaging market for the cosmetic industry is increasing at an alarming rate in the global market owing to the increase in change of taste and preferences of the consumer which demands innovative bulk packaging material. Also, the hike in the personal disposable income of various developed countries, as well as developing countries, drives the bulk packaging market for the cosmetic industry.
Opportunities:
The growth of the bulk packaging market for cosmetic industry in the global market because of various growth opportunities available in the market during the forecasted period. The growing consciousness about appearance and grooming results in higher demand for cosmetic products hence the high demand for the bulk packaging market for cosmetic products in the global market. Another factor that provides growth opportunities in the bulk packaging market for cosmetic products in the global market is the increasing awareness and use of hair care, baby care, and skin care products in all the emerging countries.
Restraints:
The bulk packaging market for the cosmetic industry in the global market is growing tremendously during the forecasted period but some factors restrict the growth of the bulk packaging market for cosmetic industry like the rules related to the use of the basic key ingredient used for packaging namely plastic and its recycling. Also, with the changing market trend, it becomes difficult to adapt according to the changing environment for many countries which restricts the growth of the bulk packaging market for the cosmetic industry.
Value Chain Analysis:
The bulk packaging market for cosmetic products is increasing rapidly owing to various benefits associated with it like the protection of cosmetic products from light, heat, humidity, and various other climatic factors. Also, it helps in the protection of products during transport. Also, owing to strict rules now the package contains all the vital information regarding ingredients related to the product.
Bulk Packaging Market Segmentation:
The bulk packaging market for the cosmetic industry in the global market is divided based on material and product.
Based on the Material:
The bulk packaging market for the cosmetic industry in the global market is divided based on material into paper and paper board material, metal material, plastic material, and other material. The largest share in the bulk packaging market for cosmetic industry is held by the plastic material owing to various benefits compared to steel drums material as it is corrosion-resistant, less weight, and less cost.
Based on the Product:
The bulk packaging market for the cosmetic industry in the global market is divided based on products into bulk boxes, material handling containers, shipping sacks, drums, pails, and others. The largest share in the bulk packaging market for the cosmetic industry is held by the pails dividend owing to its cost advantage and efficiency in their performance in small volume applications.
These prominent market key players in the bulk packaging market for cosmetic industry in the global market by using various strategies like product innovation, development of new production processes, expansion plans, collaboration, mergers and acquisitions, partnership for tapping the potential market for expanding the customer base in the global market.
Recent Developments:
In October 2018, one company named Mauser Packaging Solutions has been formed by the collaboration of Industrial Container Services (ICS) and BWAY, MAUSER Group, National Container Group (NCG) for achieving sustainability in supply chains, natural resources, growth opportunities, and packaging performance in one company.In July 2019, RPC Group PLC (RPC) was acquired by Berry Global Group, Inc. by making an investment of approximately USD 6.5 billion that will add value protective solutions for the plastic packaging companies in the cosmetic
In December 2019, a new sales office was opened in Dubai by AptarGroup for all three segments called pharma, beauty and home, and food and beverages for increasing the customer base in the countries of the Middle East region.In December 2019, full ownership of Laminor S.A. (Brazil) was acquired by Huhtamaki with a 50/50 joint venture with Bemis Company for increasing the manufacturing of tube laminates, oral care applications for making flexible packaging product portfolio in cosmetic industry.In January 2020, a new manufacturing plant of metal parts was opened by Albea S.A. for the two segments namely, cosmetic packaging and skincare packaging in Huai’an (China) for starting its operations in 2020.
Report Overview:
This global bulk packaging market for cosmetic industry research report consists of the following elements:
- Market Overview
- what is bulk packaging
- COVID 19 Analysis
- Market Dynamics
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent Developments
This global bulk packaging market for cosmetic industry research report consists of the factor that drives the growth of the bulk packaging market for the cosmetic industry along with the factors that restrict its growth. The growth opportunities in the bulk packaging market for the cosmetic industry during the forecasted period are also mentioned along with the impact of COVID 19 on the bulk packaging market. The future growth rate of the bulk packaging market for the cosmetic industry is also estimated and mentioned.
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