Cosmoprof boosts Indian cosmetics packaging solution

Cosmoprof India introduced new launches from brands specialising in cosmetics and toiletries, beauty salons and spas, natural and organic, nail and accessories, and hair salon categories.

In this arena, players in the cosmetic packaging market include packaging manufacturers such as AptarGroup, Gerresheimer AG, and RPC Group. Often, these manufacturers collaborate with cosmetic brands to provide customised and premium packaging solutions that align with the brand's identity and target audience.

Major players in the global cosmetic packaging market include Albea, HCP Packaging, Amcor, RPC Group, Silgan Holdings, Bemis Company, DS Smith, Graham Packaging Company, Libo Cosmetics, AptarGroup, and Aremix Packaging.

A study published by Towards Packaging states that the cosmetic packaging market is estimated to grow from USD 33.07-billion in 2022 to an estimated USD 54.13-billion by 2032 at a 4.5% CAGR.

The event presented solutions across the supply chain, spanning ingredients and raw materials to finished products, machinery, equipment, and packaging, encompassing private label to contract manufacturing.

Samir Srivastav, CEO, Looks Salon said, “Our vision is to open 500 salons by 2029 in India driven by tier-one cities while exploring tier-two cities, expanding from our current 213 salons in 51 cities. The industry stands at Rs 80,000 crores, growing at 10% CAGR. New services like nails and male grooming are on the rise, alongside increased consumption of home care products. This surge in product consumption explains the influx of brands entering the market, signifying changing consumer preferences and ample growth prospects.”

Cosmoprof India featured over 450 brands from 19 countries and regions. The exhibition has gained industry  Korea, Italy, the UK, and Taiwan leading the representation. Top product categories drawing exhibitor interest include perfumery and cosmetics, OEM, ODM, private label, and primary packaging.

With 1.4 billion people, India is the fourth-largest beauty market in the world, and it is expected to grow 40% by 2026. Personal care, skincare and make-up are slated to grow by around 4.5%, while fragrances will increase by 2.4% between 2022-26. Premiumisation of beauty and cosmetics portfolio key to driving growth in India. The Indian cosmetics products market size is estimated at USD 1.35-billion in 2023. It is projected to reach USD 2.27-million by 2028, registering a CAGR of 10.91% during the forecast period (2023-2028).

According to Plast India, PP demand has grown substantially to 6.7-MMT from 2021 to 2022. Concurrently, HDPE and PVC registered 2.9-MMT and 2.8-MMT respectively.

In this regard, Spoorthy Shetty, CEO, BBlunt (Mama Earth Group) India said, “The professional hair care market, alone is valued at Rs 2,100-crores. The growing demand for international beauty products is fuelled by the rise of eCommerce channels and their integration with physical stores.”

Sanjiv Sharma, CEO, Grey Trendy Professionals, shared another trend which has propelled is the men's grooming market in India, which is currently at USD 900-million expected to reach USD 1,900-million by 2029.

To recognise the outstanding achievements within the Indian beauty industry, the Cosmoprof and Cosmopack India Awards celebrated innovation and excellence amongst 2023 exhibitors. A distinguished jury composed of renowned experts and influential figures evaluated submissions from 20 finalists, culminating in the announcement of winners during a glamorous gala event.

“With consumer spending surging to USD 296-billion (Rs 24.6-lakh crores), India is on track to become the world's third-largest consumer market by 2027. The per capita gross income of Indian consumers too is anticipated to rise by 138% in real terms from 2021 to 2040, expanding their disposable income and creating ample opportunities for beauty brands to deepen their presence in the Indian market,” said director of Informa Markets, Yogesh Mudras in his closing remarks.