The cosmetic and perfumery glass bottles market is predicted to be valued at USD 1.5 million by 2021, with a CAGR of around 5.4% during the forecast period.
Cosmetic products and perfumes require a container for their wrapping, and attractive packaging offers the added advantage of capturing consumer interest. Packaging solutions, thus, play a vital role in marketing products. Cosmetics and perfume manufacturers are focusing on providing different packaging solutions, especially for low- and mid-range products, through unique designs. Cosmetics and perfumery glass bottles serve as an ideal solution as they give the product a premium look, and their inertness preserves the product’s efficacy.
A vast range of cosmetics are available today, and the increasing inclination among the population to look good and better groom themselves is only adding to the cosmetics market’s growth momentum. Moreover, rising disposal income and social media influence are also strengthening the cosmetics market.
Consumers are focusing on using environment-friendly products that are hazard-free and decomposable after use. The use of plastic in cosmetics and perfume packing not only adds to the global plastic pollution problem but also poses health risks. Glass bottles offer a green solution for packaging as they are reusable and do not pollute the environment. Government initiatives targeting plastic reduction and rising environmental consciousness will together augment the cosmetic and perfumery glass bottles market.
The key players of cosmetics and perfumes are showing interest in marketing strategies, like collaborating with celebrities for product endorsement. The availability of different designs, shapes, materials, and styles in glass bottles and newly evolving technologies are triggering the need for glass bottles in the market. The cosmetic and perfumery glass bottles market is significantly driven by factors such as durability, following government policies, aesthetical features, and uniqueness. The increase in demand for customized and personalized perfume bottle packaging is adding more value to the growth of the market. Rapid urbanization and the growing youth population are one of the prominent factors that drive the cosmetic and perfumery glass bottles market.
Color cosmetics, skincare products, mass perfume products, premium perfume products, and others are the prominent categories based on the product type. The color cosmetic market is snowballing, as it involves furnishing the appearance as per necessity. Most of the color cosmetic products and skincare products, including concealer, eye-liner, foundation, nail polish, and others, comes in glass packaging. Therefore, manufacturers and sellers use attractive packaging as a marketing technique. The color cosmetic market is anticipated to reach USD 75 billion by 2025 and is expanding at a CAGR of 5.6%.
Mass perfumes are extensively used by the middle class as they are comparatively cheaper than premium perfumes. The mass production of fragrance requires a massive requirement of packaging solutions in terms of glass bottles, which is propelling the demand for cosmetic and perfumery glass bottles in the market. The innovation of new formulations and swift shift towards organic products are positively influencing the market growth.
Distributor and direct sales are the two sales channels. Many companies show an interest in selling products via distributors, which involves a third-party network, retailers, and value-added retailers. Distributors and wholesalers make a considerable profit as they cater to a broad customer base. On the other hand, direct sales have no third party involvement and thus, prevents erosion of the profit margin. The high demand for glass bottles is leading to long-term partnerships between bottle suppliers and cosmetic and perfume manufacturers.
Online retail, hypermarkets, health and beauty stores, and others are the eminent platforms in the industry. Rising e-commerce business has led to an increase in online retail sales and significant players such as Amazon, Flipkart, and e-bay are selling cosmetic and perfume products. Though companies such as Nyka and Myntra are new in the business, they are still giving fierce competition to other established players. High penetration of smartphones, instant shopping system, and doorstep delivery are the factors stimulating the online retail cosmetic and perfumery glass bottles market.
The overall demand for beauty and personal care products is witnessing a gradual shift from conventional retail stores to hypermarkets, beauty salons, and health stores. Moreover, premium beauty product manufacturers such as Ulta and Sephora have set up their beauty retail chains for the sales and distribution of their products. A few cosmetic retail chains who have entered the market recently, such as The Body Shop, Yves Rocher, and Bath & Body Works, focus on manufacturing beauty and personal care products using natural and organic ingredients.
Rapid urbanization and demand for portable and economical products have influenced the cosmetic and perfumery glass bottles market positively. The presence of key players in the cosmetic and perfume industry across North America is further augmenting market value. North America registers higher demand for perfumes than deodorants, which is also contributing to the need for glass containers for storage.
Growing online beauty expenditure, consumer interest in fresh and diverse premium products, and growth in the upper-middle-class population are expected to accelerate market growth in Europe. Asia-Pacific is one of the leading distributors and suppliers of the beauty and personal care industry. Low labor cost and a growing manufacturing sector drive the cosmetics and perfumery glass bottle market in China. Interestingly, customers in the region are increasingly becoming environmentally conscious, which is fostering the demand for recyclable materials. Customized perfume and cosmetics bottles and the use of recycled glass materials impart to the growth momentum in Asia-Pacific.
Countries such as Brazil, Colombia, and Argentina are predicted to dominate the cosmetic and perfumery glass bottles market in Latin America. As per ABIHPEC, a Brazilian Association for Personal Hygiene, Perfume & Cosmetics Industry, Brazil accounts for 9.4% of the global beauty market. Connectivity with international markets and falloffs on ineffective spending are responsible for the increased consumer spending in Argentina. For instance, consumer spending in Argentina was USD 8,192 million in 2018, which increased to USD 8,932 million in 2019.
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