Recent report published by Research Nester titled “Cosmetic Pencil and Pen Packaging Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the cosmetic pencil and pen packaging market in terms of market segmentation by material, by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The cosmetic pencil and pen packaging market has been segmented by material into glass, paper, metal, wood and plastic with their wide range of products in different segments such as eye, lip, concealer, clean-up, cheek balm, sculpting and skin glossing. The boom in technology is playing an important part in cosmetic industry leading to invention of powered cleansers, lasers and hair removal devices among others with the advantage of getting the makeover done at home. This factor drove the demand for cosmetic pencil and pen and if further expected to drive the market with a significant growth over the forecast period.
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The global cosmetic pencil and pen packaging market is anticipated to reach USD 2,500 Million by the end of 2023 as compared to USD 1,600 Million in 2015 by expanding at a compound annual growth (CAGR) of 5.9% over the period 2016-2023. The innovative packaging solutions for the enhancement of brand visibility and increased sales are the major factors that are anticipated to drive the cosmetic pencil and pen packaging market with noteworthy revenue by the end of 2023.
In the regional segment, the market for cosmetic and pen packaging is dominated by Asia Pacific in terms of total demand, followed by Europe and North America. The high concentration of manufacturers as well as the buyers of cosmetic packaging products is one of the main factors that are driving the growth of Asia Pacific cosmetic and pen packaging market.
Growth of E-Commerce Reflects Fresh Opportunities
The large scale usage of smartphones and tablets has driven the penetration of internet users owing to the booming technology which has further promoted the massive rise in e-commerce around the globe. This factor is believed to supplement the growth of the cosmetic pencil and pen packaging market.
However, the stringent manufacturing and the recycling regulations are likely to dampen the growth of the cosmetic pencil and pen packaging market in the near future.
This report also provides the existing competitive scenario of some of the key players of the cosmetic pencil and pen packaging market which includes company profiling of Columbia Cosmetics, Swallofield PLC, FW Faber Castell Cosmetics, JSN Cosmetic Packaging, Alkos Group, Oxygen Development LLC, Libo Cosmetics Company Ltd., Quadpack Industries, HCP Packaging and Fusion Packaging.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the cosmetic pencil and pen packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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