Global lip care products packaging market was valued at US$ 973.2 Million in 2016, according to Global Lip Care Products Packaging Market by Packaging Type (Glass Packaging, Plastic Packaging, Metal Packaging, and Others), by Application Type (Sun Protection, Non-Medicated, and Medicated & Therapeutic), by Material Type (Plastic, Glass, Metal, and Others) published by Coherent Market Insights. The lip care products packaging market is expected to register a CAGR of 4.72% over the forecast period (2017 - 2025) to reach US$ 1452.7 Million by 2025.
The key driver for the growth of lip care products packaging market is the aesthetic appeal of the lip care packaged product, which remains the major strategy of the lip care products packaging companies. Furthermore, unique customization and bio-material packaging has created growth opportunities in this market by gaining consumer traction. The increasing use of green packaging in the cosmetic industry provides opportunities to the market players of lip care products packaging. For instance, in 2014, Eco Lips, an organic lip care company had launched new lip balm that are packaged in tubes made of compostable and biodegradable paper.
Browse 100 market data tables* and 60 figures* on ""Lip Care Products Packaging Market"- Global forecast to 2025.
Key Trends and Analysis of Lip Care Products Packaging Market:
• Based on packaging type, plastic packaging segment dominated the global lip care packaging market in 2016 with a market share of 45.12% and is expected to lead the market throughout the forecast period. The lip care products packaging companies are focusing on product showcasing, specification, and information to enhance the visual appeal of the product. In 2014, Mentholatum Company's brand, Softlips, launched a cube-shaped packaging product for its lip balm, which is dome-shaped, sleek and is made of clear plastic.
• Based on application type, the non-medicated lip care product segment dominated the market in 2016. The development of longer and faster acting formulas, that is long lasting lip care products are anticipated to enhance the market of lip care products across the globe and thereby, for the lip care products packaging market. Moreover, brand plays an important role in the non-medicated segment. Carma Laboratories Inc. is the manufacturer of Carmex lip balm products. The New Carmex Comfort Care lip balm has awarded ‘Product of the Year' award in 2017. This product is non-medicated lip balm known for its long lasting and soothing properties.
• By material type, plastic is the largest segment in the lip care products packaging, owing to its wide availability and low material cost. Plastic is used widely used in packaging of lip care products, which include lip balm, lip stick and lip gloss. Lip care products are used by the consumers on daily basis therefore, plastic is preferred for packaging of lip care products as it is less expensive. However, there is increasing usage of metal and glass packaging in lip care products, owing to its increasing usage in premium products.
Key Takeaways of the Market:
• Asia Pacific dominated the lip care products packaging market in 2016 with a share of 33.90% and is also expected to lead the market over the forecast period. China stands as one of the leading markets for cosmetics and with the growing sales of lip care products, the market for lip care packaging is further expected to grow. According to U.S. International Trade Association, in 2015, the U.S. exported more than US$ 516 million worth of cosmetics and personal care products to Hong Kong, followed by South Korea, Japan, and China in the Asia Pacific region.
• Europe accounted for the second largest market of lip care products packaging with a revenue of US$ 235.52 million in 2016. Online sites such as Lookfantastic and Net-a-Porter have allowed the consumers to purchase premium brands, such as Lanolips, Hourglass, Glossier, and other luxurious lip products brands more easily. Hence, propelling the growth of lip care products in this region.
The major players operating in the global lip care products packaging market include Pack Tech A/S, HCP Packaging CO. Ltd., Arminak & Associates LLC, Eastar Cosmetics Packaging, IMS Ningbo Limited and, The Packaging Company.
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