A new study by TMR has found three driving factors for the growth of the global cosmetic and perfume bottle market. At the same time, the company also predicts that the cosmetic bottle and perfume bottle market revenue growth rate will be approximately 5% from 2020 to 2027.
Noting this research, the cosmetic bottle and perfume bottle market (mainly glass jars and glass bottles) trends seem to follow a similar dynamic of the cosmetics industry as a whole. The three major trends include:
Research shows that beauty salons and beauty centers are one of the industries that benefit the most, and female customers focus on beauty and health. Consumers are willing to spend a lot of money to get timely beauty treatments and services from professionals. The emergence of more and more commercial enterprises of this kind, as well as changes in consumer spending patterns for the services they provide, are driving the cosmetic bottle and perfume bottle market. Besides, the proportion of color cosmetics used in the commercial sector is relatively higher than that of individuals, which in turn will boost the demand for cosmetic bottles and perfume bottles during the forecast period.
According to this research, high-end packaging can help increase consumers’ satisfaction with a brand and increase their chances of repurchasing and recommending to others. Major players operating in the global cosmetic and perfume bottle market are expanding their product lines by introducing a variety of luxury glass packaging products for cosmetics and perfumes. During the forecast period, this will increase the demand for glass packaging bottles. Premium packaging uses unique materials such as leather, silk, and even canvas for traditional glass bottles and jars. Common luxury effect trends include glitter and soft-touch paints, matte varnishes, metallic glosses, pearl paints, and enhanced UV paints.
Emerging economies are expected to generate favorable demand for cosmetics and perfume products and their packaging products. India is one of the fast-growing markets for cosmetics consumption and production. Most cosmetic bottle and perfume bottle manufacturers target customer bases in emerging economies such as Brazil, Indonesia, Nigeria, India, and ASEAN (Association of Southeast Asian Nations). Especially in Southeast Asia, the cosmetics market is lucrative due to its economic stability and changes in the consumption patterns of the urban middle class. It is expected that India, ASEAN, and Brazil will provide an attractive growth opportunity for the global cosmetic bottle and perfume bottle market in the next few years.