The global cosmetics packaging industry is forecast to grow at a compound annual growth rate of 4.3 percent to reach a value of US$31.4 billion by 2020, according to a new report published by Research and Markets.

Plastic packaging is the largest sub-sector of the global cosmetics packaging industry, with a market share of 50 to 55 percent, although glass packaging dominates in the fragrance category. In terms of global markets, North America leads the charge with a share of 30 percent, while APAC is expected to deliver the fastest growth for the forecast period.

Packaging is becoming increasingly important to the cosmetics industry as aesthetic appeal determines shelf space, prompting manufacturers to place more emphasis on the look of their products.

Key industry players include Brimar Packaging, Collcap, The Packaging Company, Libo Cosmetics, Albea, HCP Packaging, Aptar Beauty+Home, Cosmopak, Rexam and Rieke Packaging Systems.