“Cosmetic Pencil and Pen Packaging Market: Global Demand Analysis & Opportunity Outlook 2023”
The global cosmetic pencil and pen packaging market is segmented into product type such as glass, paper, metal, wood and plastic. Among these segments, plastic packaging segment is expected to occupy top position in overall cosmetic pencil and pen packaging cosmetic pencil and pen packaging market during the forecast period. Increasing demand for cosmetics is driving the growth of the market. Moreover, wood packaging segment is likely to grow at highest CAGR in overall cosmetic pen and pencil packaging market.
Global cosmetic pencil and pen packaging market is expected to flourish at a significant CAGR of 5.9% during the forecast period. Moreover, the global cosmetic pencil and pen packaging market is expected to garner USD 2,500 Million by the end of 2023. Increasing beauty conscious people and rising disposable income are some of the factors driving the growth of cosmetic pencil and pen packaging market.
Asia Pacific captured the largest market share in overall cosmetic pencil and pen packaging in 2016. Further, Asia-Pacific is anticipated to continue its dominance during the forecast period. This can be attributed to rising per capita income and growing cosmetic industry in the region. Further, countries such as India, South Korea and China are witnessing augmented demand for cosmetic pencil and pens. Moreover, innovation and continuous enhancement in cosmetic pencil and pen is driving the growth of cosmetic pencil and pen market which further, is anticipated to positively impact the demand for cosmetic pencil and pen packaging market during the forecast period.
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Growing Beauty Conscious Population
Rising desire of people to live good life and look good are anticipated to provide robust growth to the market of cosmetic pencil and pen packaging market. Apart from this, rising disposable income and increasing awareness about advanced cosmetic pencils and pens is anticipated to strengthen the growth of the cosmetic pencil and pen packaging market.
Positive Growth in Cosmetics Industry
Cosmetic manufacturers are focusing on the innovative packaging of cosmetic pencil and pens. This factor is envisioned to bolster the growth of the cosmetic pen and pencil packaging market. Moreover, growing sales of cosmetic pencils and pens through online distribution channels are anticipated to boost the growth of the Global Cosmetic Pencil and Pen Packaging Market. Although, volatility in the price of raw materials and stringent government regulations are some of the key factor which is likely to dampen the growth of cosmetic pencil and pen packaging market during the forecast period.
The report titled “Cosmetic Pencil and Pen Packaging Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global cosmetic pencil and pen packaging market in terms of market segmentation by material, by product type, 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.
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This report also provides the existing competitive scenario of some of the key players of the global cosmetic pencil and pen packaging market which includes company profiling of Columbia Cosmetics Manufacturing, Inc., Swallofield PLC, FW Faber Castell Cosmetics, JSN Cosmetic Packaging, Alkos Group, Oxygen Development LLC, Libo Cosmetics Co., Ltd., Quadpack USA, 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 global 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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