Cosmetic Pencil and Pen Packaging Market (CAGR of 5.9%) is Expected to Reach US $ 2,500 Million by 2023 in Terms of Value

The cosmetic pen and pencil refers to the beauty care products consisting of eyebrow pencil, eyebrow pen, eyebrow liner and other products. Initially in 1960s the cosmetic packaging was mainly in glass bottles and jars. The number of the working women was on the rise which significantly boosted the sales of color cosmetics. The 1970s saw the shift of packaging from the glass based packaging to the plastic containers and cardboard boxes. At this time, Maybelline and Avon were the market leaders.

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By 2010, the technology became an important part in the cosmetic industry. Smartphones and tablets became essential commodities. In the cosmetics market, this tech boom translated to powered cleansers, lasers, and hair removal devices for at-home use. This increased boom gave rise to the growth of the cosmetics pen and pencil packaging market. The consumers started purchasing cosmetics online and as a result, it became a necessity to provide packaging to the cosmetic products. The growth of e-commerce has also led the customers to start opting for easy-to-apply cosmetics over time-consuming products, thus necessitating the need for providing innovative packaging solutions for such personal care products.

Now, the packaging in cosmetics also dictates to the customer how the product needs to be applied by providing the necessary information. Further, designing the wrapper of the product can engage the customers and encourage them to buy the product. Moreover, packaging a product has also gained immense popularity due to benefits that is provided by it in the marketing of the product. It is used for enhancing the brand visibility, increased sales and reduced brand recall.

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Market Size and Forecast

The market was estimated to be US $ 1,600 million in 2015 and is anticipated to expand at the CAGR of 5.9% over the forecast period 2016-2023 with the revenue expected to reach US $ 2,500 million by 2023. In terms of geography, the market for cosmetic packaging is dominated by Asia Pacific in terms of total demand, followed by Europe and North America. The reason for the top position occupied by the Asia Pacific can be attributed towards the high concentration of manufacturers as well as buyers of cosmetic packaging products in the region.

Rising awareness about anti-aging products coupled with the flourishing e-commerce sector in the region is also expected to fuel demand for cosmetic packaging over the forecast period. Furthermore, India and China will play a pivotal role in the growth of the market where the demand for the cosmetic products is anticipated to expand at robust CAGR over the forecast period.

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Leading Players of Global Market:

Columbia Cosmetics, Swallofield PLC, FW Faber Castell Cosmetics, JSN Cosmetic Packaging, Alkos Group, Oxygen Development LLC, Libo Cosmetics Company, Ltd., Quadpack Industries, HCP Packaging, Fusion Packaging and Other Key Players.

Growth Drivers and Challenges

The primary reason responsible for the growth of the market is innovative packaging solutions available in the market. In order to keep with the surging demand for cosmetic pens and pencils, manufacturers of these products as well as packaging solution providers are intensifying their measures towards providing striking features on packets and using effective packaging materials for protective wrapping purposes. Further, the rising disposable incomes and a rising beauty conscious population will push the market to the global level.

Moreover, the surging e-commerce sales will continue to positively shape the dynamics of global cosmetic pencil & pen packaging market. Almost every cosmetic product sold online requires a protective wrapping that can cover various types of surfaces and object shapes. Increased awareness and implementation of stringent governmental regulations along with the competitive benefits have compelled the users to increase the use of eco-friendly materials for packaging and manufacturing to incorporate the eco-friendly products in the material development process.

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As a result, the global demand for materials such as paper, silicone, melamine, and bamboo will expand the market. The market employs different types of the materials for packaging such as glass, paper, metal and wood. The market for glass-based packaging is expected to rise in response to substantial demand for luxury goods in the developed markets such as the U.S., UK, and Germany. The various cosmetic pen and pencil manufacturers are consolidating their position by merging their operations with the well-established companies. An improved synergy among market competitors will eventually benefit the growth of global cosmetic pencil & pen packaging market.

However, the market growth will be hindered by the rising preference of the consumers to the eco-friendly products such as wood, paper and materials. Moreover, the stringent manufacturing and the recycling regulations will be a major challenge inhibiting the growth in global production of cosmetic pencil & pen packaging products that will adversely impact the environment in one way or another. Plastic materials segment by material type will continue to dominate the market by accounting for sales of over 1500 million units by 2023 end.

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