India Cosmetics Packaging Market: Size, Future, Growth, Trends Forecast 2032 - PriyaMND/Market-Research-and-analysis GitHub Wiki

India cosmetics packaging market is displaying a phenomenal growth trajectory and is estimated to grow at a CAGR of 6.19% for the forecast period between FY2024 and FY2031 due to the growing number of consumers for various cosmetics products and increasing awareness among individuals who are more conscious of their appearance. Increasing disposable income among the Indian middle class is one factor that boosts the cosmetics industry and the subsequent packaging industry. Indian economy is majorly growing owing to its growing manufacturing industry. India's GDP is predicted by Morgan Stanley to more than double from present levels by 2031.

India cosmetics packaging market is witnessing a strong growth rate and it is projected to reach USD 2.62 billion by FY2031 from USD 1.62 billion in FY2023. To meet the rising consumer demand for cosmetics, the demand for creative and appealing packaging solutions that not only improve the visual appeal of products but also guarantee their safety and functionality has increased as a result. The Indian cosmetics packaging market is distinguished by a focus on environmentally friendly packaging materials, technological improvements, increasing e-commerce penetration and regulatory frameworks that guarantee product safety and compliance.

The Indian cosmetics market is still thriving, and as a result, there are wide opportunities for manufacturers, suppliers and brand owners to meet the changing needs and preferences of Indian customers in the cosmetics packaging market.

Indian customers are becoming more conscious of personal cleanliness and care. Customers are looking for high-quality, secure, and aesthetically pleasing packaging options for their cosmetics and personal care items as they become more cognizant of the products they use. This growth is being driven by increased income levels amongst upper-middle-class consumers and the young population’s increasing inclination towards using colour cosmetics in India. The market for personal care packaging in India grew as a result of the increased use of personal care products. Skincare and makeup products are the dominant segment of the cosmetics market in India which fuels the demand for various packaging solutions like cardboard packaging, paper packaging, shrink wraps and pallets made of HDPE (High-density Polyethylene).

Consumer behaviour for the purchase of cosmetics has changed dramatically in India as a result of the growth of e-commerce platforms. Online shopping's rising acceptance has given rise to both new packaging options and difficulties for cosmetics. Brands must spend money on packing options that are not just aesthetically pleasing but also secure and appropriate for online distribution. In order to resist the rigours of shipping and handling, e-commerce packaging needs to be sturdy, flexible, and resilient. To reduce delivery costs and cater to the tastes of online buyers, e-commerce platforms frequently demand that products be packaged in smaller quantities. As a result, there is a desire for smaller container sizes that are light, space-saving, and affordable to ship in India's cosmetics packaging market.

Eco-friendly paper shreds are taking the place of plastic fillers and two-ply rolls or shredded carton waste are replacing bubble wrap to provide sturdy protection for delicate products. Additionally, recycled paper bags are increasingly being used in place of polythene pouches.

Consumer preferences have rapidly shifted from chemical products to organic, clean, natural, and environment-friendly products especially when it comes to cosmetics and personal care as consumers become highly aware of the consequences of using chemical-based products on the skin. With such rising trends towards sustainability, cosmetic brands are not only adopting natural cosmetic ingredients to design their product but are also moving towards eco-friendly and sustainable packaging solutions including recycled plastics, biodegradable packaging, and renewable resources to enhance the external visual appearance of their product.

In 2021, Vicco Labs introduced 100% recyclable packaging tubes of its cosmetics products.  In April 2023, ITC announced that its soap brand Savlon’s packaging is done with 70% recyclable plastic. The Body Shop aims to use 100% reusable and compostable packaging material by 2030.

The cosmetics packaging market has seen a growing trend towards personalization. Brands now provide consumers with the option of custom packaging, allowing them to add distinctive designs, labels, and packaging forms to their products. Customised packaging develops a stronger connection with customers and improves the brand experience. For new-age startups and businesses in the cosmetics market, customised packaging plays a significant role in their success from choosing a sparkling combination of colours to attractive labels to product packaging material. The market is flooded with lots of professional packaging manufacturers to help businesses with these needs.

With a wide selection of hair colour brands, international cosmetic company Revlon has a strong hair colour portfolio in India. TOP SPEED relaunches its product packaging with Indian models for the first time after carving out a name for itself in the Indian market. The strategic choice was made in an effort to win over new clients in an industry that is incredibly competitive.

Impact of COVID-19

The COVID-19 pandemic posed the India cosmetics packaging business with both problems and opportunities, the pandemic had a significant impact on the market for a period afterwards it recovered quickly owing to the constant rising demand. Reduced production capacity for cosmetics packaging was caused by the temporary shutdown of many manufacturing facilities as well as labour shortages and logistical issues because of the national lockdown and subsequent limitations put in place during the pandemic. The pandemic interrupted domestic and international supply chains, which had an impact on the purchase of raw materials, packaging components and equipment to produce cosmetics packaging. Transportation and trade restrictions caused material availability to be delayed, which further hampered production schedules and output. There has been an increase in online cosmetics purchasing due to a change in consumer behaviour as conventional establishments were either temporarily shuttered or only functioning under limited conditions. Due to this, there is now a greater need for packaging solutions made for e-commerce, which are sturdy and attractive that can endure handling and delivery.

“India Cosmetics Packaging Market Assessment, Opportunities, and Forecast, 2016-2030F”, is a comprehensive report by Markets and Data, providing an in-depth analysis and assessment of the current scenario of the India cosmetics packaging market, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

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