Cosmetic Packaging Market on the Rise

We’ve mentioned this in previous posts, but the cosmetic packaging market is truly on the move. Market research predicts it will reach $33 billion by 2024. In 2015, the market was valued at $23 billion. Now more than ever, cosmetics companies are increasingly concerned with innovative packaging.

This need for innovation is affecting most cosmetics companies in one of two ways. For companies that sell their product through retail stores, the innovation requires great shelf appeal and thus the process of bringing a concept to life can take months to years. Brands that are mostly sold and marketed online have to bring products to market much quicker. These companies also need to introduce new products and packaging on a regular basis.

Trends in Cosmetic Packaging

There are a wide array of factors influencing packaging decisions, and every brand his its own unique personality to uphold with these ideas. However, there are definitely a few dominant factors affecting the industry right now. These include:

1. Portability: Consumers want something they can reapply or touch-up on the go
2. Smaller Sizes: Not to be confused with travel sizes, consumers currently go toward smaller trendy items so that they can efficiently use one color cosmetic this month and try out a new one next month.
3. Creative Color: A bright box isn’t enough to stand out anymore. Brands need to play up the colors of their products in creative ways, often incorporating neons and intricate foils and metallics.
4. Lip-Related: Lips are having a moment. Any brand that sells cosmetic colors for lips is able to have a field day with different packaging options since consumers are so eager to try out new shades.