The demand for premium cosmetic products will boost the demand for the airless packaging for cosmetics market globally. Products such as foundations, skincare creams, foundations, serums and many more have grown after a large demand over the last few years. The rising number of working women and the demand for natural skin care products have skyrocketed over the last decade which has simultaneously affected the airless packaging for cosmetics market.
Airless bottles and jars are preferred over airless pouches and tubes in the packaging of premium quality cosmetic products because they provide an aesthetic appeal to the consumers. In the cosmetic industry, airless tubes are used in packaging in smaller quantities concerning airless jars and bottles.
The airless packaging for cosmetics market has seen a recent boom because cosmetics the semisolid ones such as creams, lotions, gels, pastes have product integrity to maintain which can only happen if the shelf life of these premium products is increased by packing them in airless tubes, jars, bottles and pouches. Thus the airless packaging prevents the need for preservatives for external influences such as UV light and oxygen.
Airless Packaging for Cosmetics Market: Drivers
The cosmetic Industry was facing a lot of setbacks due to limited self-life which was also hindered due to contamination with UV sunlight and oxidation of products. But with the introduction of airless packaging, the cosmetic industry has seen rapid improvement in quality. With the coming of the airless packaging for cosmetics market, the industry has seen enormous benefits and with an increase in shelf life due to airless packaging, the number of preservatives used also decreases thus the profit margin has increased with this more and more manufacturers are inclined towards using airless packaging. This all leads to an escalation in the demand for the airless packaging for cosmetics market.
Continuous fluctuations in crude oil prices will lead to uncertainty over the availability of raw materials for production and lower profit margins would hinder the prospects of the airless packaging for cosmetics market. Jars, Pouches and bottles used in the airless packaging for cosmetics market are made from PET and acrylic which are derived from crude oil.
This volatility in the cost of raw materials leads to an increase in production rate as a result it widens the gap of demand and supply. This volatility is seen in the crude oil prices due to reasons such as the demand and supply gap of crude oil, actions of the Organization of Petroleum Exporting Countries (OPEC) and most importantly the fluctuations in the currency.
The decline in demand for premium cosmetic products is forecasted due to the current COVID-19 pandemic situation, which has caused a change in income pattern all across the globe. In addition to all these major cosmetic manufacturers are opting for low-cost packaging alternatives over airless packaging to cover up the decline in sales which has harmed the airless packaging for cosmetics market.
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Airless Packaging for Cosmetics Market: Regional Outlook
Europe leads the airless packaging for cosmetics market because of the high demand for premium cosmetic products and the strong presence of cosmetic manufacturing companies. Major brands have now focused their concern over sustainable airless packaging to protect the product from risks of oxidation and over rising concerns of sustainability due to strict regulations. Ren Clean Skincare, a cosmetic brand owned by Unilever has introduced its new skincare product in an airless bottle made out of recycled plastic in February 2020.
North America has seen steady growth in airless packaging for cosmetics due to rapid consumption of skincare products, especially in Mexico as it has seen a surge in numbers of working women in the country.
In the Asia Pacific where we can see a rise in per capita income of families, the cosmetic industry is on a boom to match the increasing standard of living of working women especially in countries like Malaysia, India and China due to which it has been anticipated that there would be a great increase in the airless packaging for cosmetics market.
Airless Packaging for Cosmetics Market: Key Players
Aptar Group Inc.
Albea Beauty Holdings S.A.
Silgan Holdings Inc.
ABC Packaging Ltd.
Libo Cosmetics Company
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