Cosmetic and Perfume Glass Packaging Market Trends

Growth Drivers

• Rising Number of Products for Male Grooming or Men’s Beauty - As of 2022, approximately 20% of heterosexual males aged between 18 to 65 in the USA were projected to be utilizing some sort of male cosmetics. The perception toward men’s grooming is changing drastically resulting in a higher demand for male beauty products. Some of these products are deodorants, cleansers, sunscreen, toners, moisturizers, and others. According to many stereotypes, men should be rough and robust but in recent decades, there has been a noteworthy change in this notion. A significant number of males now use body cream, lotion, scrub, balm, beard cream, and others on a daily basis.

• Growing Demand for Fragrance Products Owing to a Surge in Gym Activities - For instance, about 180 million gym membership was purchased in 2019 while the fitness segment was further estimated to reach around USD 95 billion in 2021.

• Higher Inclination Toward Beauty Products on the Back of a Rising Number of Beauty Influencers - It was observed that nearly 70% of beauty enthusiasts adopted full-time beauty influencer jobs in 2021.

• Escalating Utilization and Demand for Skin & Hair Care - It was estimated that the skin care segment amounted to around USD 8 billion across the globe in 2022.

Challenges

• Decline in Supply-Chain due to COVID-19

• Requirement for Higher Initial Investment

• Possibility of Side-Effects of these Products