Market Trends of Europe Cosmetic Plastic Packaging Industry
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'Oréal, 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.
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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.
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