Europe Cosmetic Plastic Packaging - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Europe Cosmetic Plastic Packaging Market size is estimated at USD 3.37 billion in 2024, and is expected to reach USD 3.89 billion by 2029, growing at a CAGR of 2.93% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 26.52 billion units in 2024 to 30.91 billion units by 2029, at a CAGR of 3.11% during the forecast period (2024-2029).

The European cosmetic market is thriving, driven by dynamic market segments, evolving consumer preferences, and the influence of global beauty trends. The market encompasses many products, including skincare, haircare, cosmetics, and fragrances, catering to diverse consumer needs and preferences. The market is witnessing significant growth due to the increasing demand for organic and natural products, the rise of e-commerce platforms, and the growing awareness of personal grooming and hygiene.

Key Highlights

• Amid a rising emphasis on sustainability, cosmetics manufacturers increasingly seek natural and eco-friendly ingredients and emulsifiers. The shift toward 'green' beauty is not just a passing trend. Mounting research highlights the toxicity of conventional cosmetics, propelling the rapid and sustainable growth of the natural cosmetics market.
• Increasing demand for cosmetic products in Europe, coupled with heightened consumer awareness, evolving lifestyles, a growing emphasis on personal grooming, and a surging interest in beauty products, collectively propels companies to invest in innovative packaging solutions. This trend is further supported by advancements in packaging technology and sustainability initiatives, which are becoming crucial factors in the market.
• Smart packaging is revolutionizing the beauty and cosmetics sectors, enhancing productivity and reshaping production paradigms. Globally, the adoption of IoT and smart packaging is surging, with the beauty industry, mainly cosmetics and makeup, at the forefront. While innovative packaging in makeup bottles and skincare products remains a niche, it offers unparalleled opportunities for creativity and innovation.
• Europe is currently grappling with a pressing environmental issue: plastic waste. The European Commission reports that most European plastic is incinerated in landfills rather than recycled. Recycling, while crucial, poses challenges. It is resource-intensive and often costly. Profitability hinges on robust demand for the end product and the availability of ample waste plastic, necessitating large-scale processing facilities.
• In April 2024, Estee Lauder Companies (ELC) and Microsoft Corp. unveiled plans for an AI Innovation Lab, solidifying their strategic partnership. By harnessing the advanced generative AI tools within Microsoft's Azure OpenAI Service, the collaboration aims to enhance ELC's 20+ prestigious beauty brands. Their goal is to forge deeper consumer bonds, expedite product launches with local resonance, and, ultimately, spearhead the beauty industry's transformation through generative AI.

Europe Cosmetic Plastic Packaging Market Trends

Make-up Products to Witness Growth

• The European cosmetic plastic packaging market is primarily attributed to the significant growth in make-up and beauty product sales. According to Cosmetics Europe, the market is dominated by five leading European countries: Germany, France, the United Kingdom, Italy, and Spain.
• Brands in the region wield significant influence over consumers, driven by escalating demand. These brands leverage extensive promotional campaigns and endorsements, directly impacting the market for cosmetics. The increasing availability of cosmetics through e-commerce channels further fuels the steady rise in demand, mainly due to its convenience.
• Leading beauty brands like L'Oreal SA and Estee Lauder Companies Inc. are at the forefront of offering premium value in their make-up lines. This emphasis on value has fueled a rising demand for multifunctional beauty products, especially in the luxury beauty segment. Companies are innovating to meet these evolving customer preferences and recognize the need for convenience in today's fast-paced world. In response to the rising demand for make-up products, the demand for packaging formats such as tubes, sticks, bottles, and others is also growing in value sales.
• For instance, L'Oreal, the global beauty manufacturing company, showed a growing sales structure in the region, increasing from USD 9.955 billion in 2020 to USD 13.91 billion in 2023. This growing sales of Loreal, which covered 20% of Europe's market share, highlights the rise of demand for cosmetic products in the region.

Spain to Register Major Growth

• Visual quality, sustainability, and convenient handling are significant factors brand owners focus on while manufacturing cosmetic plastic products. These lightweight cosmetic products are suitable for high-end personal care applications. Also, several companies operating in the market are showing interest and innovating new solutions.
• In May 2023, Amethis Europe, part of the Edmond de Rothschild Private Equity partnership, acquired a minority stake in HB Aesthetics. This acquisition supported SMEs in their internationalization efforts. HB Aesthetics designs and distributes high-end dermo-cosmetic products for professionals. Such acquisitions drive the country's cosmetic plastic packaging market.
• The cosmetic industry is witnessing a significant expansion in product offerings due to evolving consumer preferences and demands. For instance, in June 2023, Freshly Cosmetics, a brand specializing in sustainable cosmetics and operating across Spain, announced two new Freshly Stores: one in Madrid, the second store in the capital, and the first in Galicia. Such expansions would improve the need for cosmetic plastic packaging during the forecast period.
• More and more companies are making commitments aligned with the United Nations' 17 Sustainable Development Goals (SDGs). Aligning activities with the United Nations' 17 Sustainable Development Goals (SDGs) may benefit Spain's cosmetic plastic packaging market, ultimately contributing to its growth. Committing to the SDGs demonstrates a company's dedication to sustainability and social responsibility. As a result, cosmetic companies in Spain that align their activities with the SDGs may experience increased consumer trust and loyalty, leading to a growth in market share.
• When evaluating companies, investors and business partners increasingly consider environmental, social, and governance (ESG) factors. Aligning with the SDGs can make cosmetic companies in Spain more attractive to investors seeking sustainable investment opportunities. It may facilitate partnerships with other businesses that prioritize sustainability, potentially leading to collaborations that drive innovation and growth in the cosmetic plastic packaging market.

Europe Cosmetic Plastic Packaging Industry Overview

The European cosmetic plastic packaging market is fragmented, with the presence of significant players like Albea Group, Hcp Packaging Co. Ltd, Gerresheimer AG, Berry Global Inc., and AptarGroup Inc. Players in the market are adopting strategies such as acquisitions and partnerships to enhance their product offerings and gain sustainable competitive advantage.

• June 2024 - Berry Global Inc. introduced a new offering to its product line: a customizable, rectangular Domino bottle. This bottle is crafted using up to 100% post-consumer recycled (PCR) plastic, catering to the beauty, home, and personal care sectors.
• March 2024 - Aptar Beauty introduced a new iteration of its Micro airless packaging, featuring a container crafted entirely from recycled PET in its rPET variant. French Laboratory SVR, known for its robust commitment to sustainability and circularity, opted for Aptar Beauty's Micro 30 ml rPET airless packaging for its recent PALPEBRAL collection debut.

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