The increasing number of working women, coupled with the increasing disposable income supports the market value.
NEWARK, UNITED STATES, December 5, 2022 /
EINPresswire.com/ -- Global cosmetic pencil and pen packaging market is projected to reach USD 2960.73 million by 2028, at a CAGR of 10.04%from 2021 to 2028. The growing demand for cosmetic pencil and pen packaging is driven by the rising popularity of beauty products among consumers. The growing popularity of eye makeup is a major factor driving the growth of the global cosmetic pencil and pen packaging market. Increasing disposable incomes, growing awareness about the availability of a variety of cosmetic products, and the introduction of innovative packaging designs are some of the key factors driving the growth of the market.
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The global cosmetic pencil and pen packaging market is segmented into product type, material, and end-use. On the basis of product type, the market is segmented into pencils and pens. The pencils segment is estimated to dominate the market during the forecast period. This is mainly attributed to the growing demand for eye makeup products, such as eye liners, kohl, and eye shadow pencils.
On the basis of material, the market is segmented into plastic, metal, and paper. The plastic segment is estimated to dominate the market during the forecast period. This is mainly attributed to the low cost and wide availability of plastic packaging materials.
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On the basis of end-use, the market is segmented into beauty salons, supermarkets, and stores. The supermarkets segment is estimated to dominate the market during the forecast period. This is mainly attributed to the growing adoption of online retailing.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region emerged as the largest market for the cosmetic pencil and pen packaging, with a 35.6% share of market revenue in 2020 and is anticipated to grow at the highest CAGR over the forecast period.
The key players operating in the global cosmetic pencil and pen packaging market include HCP Packaging, Albea, VisiPak, Elitepak, Intrapac, Amcor, and Sonoco Products LLC.
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Global Cosmetic Pencil and Pen Packaging Market Revenue Analysis and Industry Forecast, 2022 to 2028
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