The cosmetic packaging market in SAM is expected to grow from US$ 476.34 million in 2021 to US$ 663.86 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.
South & Central America cosmetic packaging market is categorized into Brazil, Argentina, and the rest of SAM. These countries experienced great progress and growth due to the middle-class population's rapid growth, the increasing number of employed women, changing customer lifestyles, and rapid urbanization. The cosmetic packaging market in SAM is witnessing growth rapidly due to growing demand for cosmetic products, growing awareness about evolving beauty trends, and the availability of a wide range of products. Furthermore, people in the region extensively use digital platforms to shop for cosmetic products. Therefore, manufacturers are designing websites that allow browsing different products and online shopping and are also providing different quizzes where customers need to answer certain questions based upon their choices to understand the specific requirements of consumers. These attempts are propelling the demand for cosmetic products in SAM. Hence, the growth in the cosmetics industry in the region is driving the growth of the cosmetic packaging market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the growth of SAM cosmetic packaging market. The SAM cosmetic packaging market is expected to grow at a good CAGR during the forecast period.
SAM Cosmetic Packaging Market Segmentation
The cosmetics packaging market is segmented into material type, container type, and application. On the basis of material type, the market is segmented into glass, paper, plastic, metal, and others. The paper segment held the largest market share in 2020. Based on container type, the market is segmented into jars, tubes, bottles, pumps and dispensers, sachets, and others. The bottles segment held the largest market share in 2020. On the basis of application, the market is segmented into skin care, hair care, make up, and nail care. The Skin care segment held the largest market share in 2020. Based on country, the SAM cosmetic packaging market is segmented into Brazil, Argentina, and the rest of SAM. Furthermore, Albea; Aptar Group, Inc.; Berry Global Inc.; Gerresheimer AG; HCP PackaginG; Huhtamaki; Libo Cosmetics; Silgan Plastics; and WWP Beauty are among the leading companies in the SAM cosmetic packaging market.