Latin America Cosmetic Packaging Market - By Type (Bottles, Tubes, Sticks, Pen Types, Roller Balls, Jars and others), Material (Plastic, paper, Glass, Metal and Others), Application, Country, Trends, Forecasts - (2020 - 2025)
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Cosmetic industry is highly consumer centric, in terms of perceived value, and aesthetic appeal and as such, packaging of these products impact the market sales. Most of the packaging for cosmetic products is done with plastic, glass, and metal while others include paper. Plastic packaging leads the cosmetic packaging market with a share of 50-55% in 2014 while on the other hand; glass packaging has a dominant share in fragrance market, a subset of Cosmetic packaging market.
The LATAM cosmetic packaging industry market was worth $XX.XX billion in 2014 and is projected to reach $XX.XX billion by 2020, at a compound annual growth rate of X.XX%.
Factors like growing beauty consciousness in the consumers, segmented cosmetic products based on affordability, e-retailing are driving the market, while economic factors like recession are a constraint for the high end market. With Cosmetics being FMCG products, retailers have a great impact in identifying the brands that provide aesthetic appeal to the customers and placing the same in their limited shelf space. As such, perception of packaging by manufacturing companies has shifted from being a non-core activity to becoming an extension of their arm.
With changing market dynamics of Cosmetic industry by bringing in new products, packaging companies are going for innovations in designing, and technological use to stay competitive