A new market report by Research Nester analyzes the global market for cosmetic pencil and pen packaging. This market research study covers key information on the major players in the industry. It also features information about the major drivers and restraints influencing the growth of the global cosmetic pencil and pen packaging market. In addition, this report offers insight into the different development policies and basic company profiles of key players operating in the industry. As a result, this report will help clients make informed decisions and stay up to date on the competitive landscape.
According to the report, the eye segment dominated the cosmetic pencil and pen packaging market in 2018. Applications of these products include eyeliner, kajal, eyebrow, and mascara. The demand for these products is expected to rise significantly in the coming years due to the growing popularity of these products. This growth can be attributed to the growing number of smartphone users and the rapid technological advancements. Moreover, the market is expected to witness a high CAGR (CAGR) over the forecast period, owing to the emergence of new technologies and innovations.
The global cosmetic pencil and pen packaging market is predicted to grow at a 6.0% CAGR over the next five years. By 2024, the market is expected to reach a value of US$2,799.0 million. Further, it will become one of the largest sectors in the cosmetic industry, as the product's popularity increases. Nevertheless, it is vital to note that the market is still small. A high-quality product is important for brand awareness, and a good product must be protected against damage.
In 2018, the eye segment was responsible for a majority of the market share in the cosmetic pencil and pen packaging market. These products are mainly used in the eye area and include eyeliner, kajal, eyebrow, and mascara. The eye area is the focus of the face and is expected to show the highest CAGR during the forecast period. In addition, the increasing development of various products will drive the growth in the cosmetic pencil and pen packaging market.
The global market for cosmetic pencil and pen packaging is expected to reach USD 2,500 million by 2023. It was valued at USD 1,600 million in 2015. The region is projected to witness a 5.9% CAGR during the forecast period. The market is characterized by a wide variety of packaging technologies and methods. In contrast, the market for liquid liners and lip glosses is expected to expand at a CAGR of 5.8% during the forecast period.
In terms of volume and value, Asia Pacific is the leading region for cosmetic pencil and pen packaging. In 2016, it was expected to sell more than 2,615 million units worldwide. By 2024, it is expected to grow to a volume of 3.7 billion. Additionally, the market is anticipated to grow at a CAGR of 5.1 percent. However, the global market for cosmetic pencil and pen packaging is highly fragmented and diverse.
تعداد بازدید : 9
برچسب ها : Cosmetic Pencil Packaging ,