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Latin America Personal Care Packaging Market - Growth, Trends, Covid-19 Impact, Forecasts (2021 - 2026)

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  • 120 Pages
  • October 2021
  • Region: Latin America
  • Mordor Intelligence
  • ID: 5459037

Latin America Cosmetic Packaging Market is estimated to grow at a CAGR of about 5.35% over the forecast period. The demand for efficient packaging increased significantly, primarily due to robust sales of various customized beauty products. Furthermore, the rising consumer awareness regarding personal grooming drives cosmetic products and driving the Latin American personal care packaging market.

During the initial days of the pandemic, significant disruption to the supply chain was observed. According to P&G CFO, Joh Moeller 17,600 products have been affected during the COVID-19.

Key Highlights

  • Market Vendors are attempting to make a difference by developing a strategy to combat climate change and reduce packaging's environmental impact. For instance, In April 2020, Kao launched its new sustainable personal care line MyKirei. The products come into an eco-friendly ground-breaking bottle using up to 50% less plastic and offer biodegradable plant-based formulas.
  • Independent packaging-free stores are expected to be one of the driving factors in the retail market across the industry. Brands are expected to create simple branded and engaging refill opportunities in store. This enhances the brand image and attracts consumers increasingly leaning towards brands that offer sustainable packaging solutions for the products.
  • Furthermore, Amcor collaborated with McKinsey.org, a nonprofit organization formed by global consulting firm McKinsey & Company, to develop recycling and trash management solutions that will implement across Latin American communities.
  • Cosmogen, a cosmetics packaging company, has merged with PYC that specializes in dispensing packaging. The company will operate under the Cosmogen name. With the combination, Cosmogen will offer a turnkey line of spray and airless bottles customizable to the market.
  • The outbreak of Covid-19 has further influenced the vendors to make drastic changes to their brand identity, and the push towards offering sustainable packaging solutions is further increasing their investments in R&D and manufacturing.

Key Market Trends

Skin Care is Expected to Witness Significant Growth in the Market

  • Suppliers of different skincare products in the market are offering stylish bottles for lotions, jars with luxe details for creams, and tubes that come equipped with applicators for packaging. More advanced airless dispensing systems, dropper applicators, and dispensing caps are providing solutions for certain types of products. For instance, Albea packaging, one of the largest cosmetic packaging wholesalers, makes soft-shaped screw caps for tubes. This cosmetic cap is the ideal solution for all skincare products and communicates the softness of the formula due to the rounded edges of the cap
  • Furthermore, technological encroachments, such as airless skincare packaging and 3-D printing technology, are driving skincare packaging sales. Advanced and most trending printing technologies, such as hot-stamp foil printing and flexo-offset printing, enable manufacturers to offer innovative and eye-catching skincare packaging for cosmetic brands, further growing the personal care packaging market.
  • Loreal co-developed paper-based cosmetic tubes with global packaging firm Albea. It also announced industrial production and market launch for skincare in 2020. The c-developed cosmetic tubes are likely to use a bio-based and certified paper-like material to replace most plastics but the company cosmetic sales revenue decreased in Latin America during the first half of 2020.
  • Moreover, In October 2020, Origins, a skincare brand, and its parent company, The Estée Lauder Companies (ELC), announced a strategic partnership with global chemical industry company SABIC and strategic beauty packaging manufacturer Albéa to bring an advanced recycled tube package to market in 2021.

Brazil is Expected to Witness Significant Growth in the Market

  • Brazil exports perfumery, cosmetic, and bath products to Argentina, Colombia, Chile and imports cosmetics from France, Argentina, and the United States. The country remains dependent on imports for finished products. This has led the Brazilian government to introduce import taxes to localize production, and Companies like Albea are focusing on localizing their cosmetic packaging activities.
  • Further, SEBRAE for Micro and Small Enterprises stated that the men's cosmetics market has tripled in Brazil in the past five years. By 2021, it will become the most prominent men's cosmetics market in the world. This is expected to facilitate further growth of packaging modules designed exclusively for men.
  • There are multiple investments in environmental policies. Millions of Reals are invested in natural resource management, nature conservation, and in the R&D of environmentally friendly products and processes, such as the usage of green plastic in the packaging and the development of supplier partner communities of natural ingredients and assets.
  • Moreover, the market is also witnessing manufacturing investment activities. For instance, in Apr 2020, the French group of fragrances and aromas, Robertet, invested BRL 48 million in constructing a unit in São Paulo. With its operation, the company is now looking to triple its production and storage capacity in the country. The unit allowed the company to increase its productivity and further driving demand for packaging.

Competitive Landscape

The Latin America Personal Care Market is moderately competitive, with a considerable number of regional players. The innovation drives the market in the product offerings, and each vendor is investing in innovation. Key players include Amcor Ltd, Mondi Group, Aptar Group and Sonoco.

  • June 2021 - Mondi is expanding paper-based MailerBAG series capacity in eCommerce with a recyclable solution built from socially sourced renewable resources. The MailerBAG is available in three forms, with the flat bottom version complementing the existing range of pinch and folding bottom bags offering consumers user-friendly packaging.
  • June 2021 - Silgan Holdings Inc. acquired the dispensing business of the Albéa Group, a significant global provider of technologically advanced pumps, sprayers, and foam dispensing systems to large branded consumer goods firms, mainly in the beauty and personal care areas.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.4.1 Increasing Consumption of Personal Care Products With Growing Disposable Income
4.4.2 Growing Focus on Innovative and Attractive Packaging
4.5 Market Restraints
4.5.1 High Costs of R&D and Manufacturing of New Packaging Solution
5.1 By Material Type
5.1.1 Plastic
5.1.2 Paper
5.1.3 Glass
5.1.4 Metal
5.2 By Packaging Type
5.2.1 Plastic Bottles and Containers
5.2.2 Glass Bottles and Containers
5.2.3 Metal Containers
5.2.4 Folding Cartons
5.2.5 Corrugated Boxes
5.2.6 Tube and Stick
5.2.7 Caps and Closures
5.2.8 Pump and Dispenser
5.2.9 Flexible Plastic Packaging
5.2.10 Other Packaging Types
5.3 By Product Type
5.3.1 Oral Care
5.3.2 Hair Care
5.3.3 Color Cosmetics
5.3.4 Skin Care
5.3.5 Men's Grooming
5.3.6 Deodorants
5.3.7 Other Products Types
5.4 By Country
5.4.1 Brazil
5.4.2 Mexico
5.4.3 Argentina
5.4.4 Rest of Latin America
6.1 Company Profiles
6.1.1 Amcor Ltd.
6.1.2 Mondi Group
6.1.3 AptarGroup
6.1.4 Silgan Holdings
6.1.5 Sonoco
6.1.6 RPC Group Plc (Berry Global Group INC.)
6.1.7 Cosmopal Ltd
6.1.8 Gerresheimer AG

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amcor Ltd.
  • Mondi Group
  • AptarGroup
  • Silgan Holdings
  • Sonoco
  • RPC Group Plc (Berry Global Group INC.)
  • Cosmopal Ltd
  • Gerresheimer AG