SpendEdge has been monitoring the global cosmetics and perfume packaging market and the market is poised to experience spend growth of more than USD 8 billion between 2018-2023 at a CAGR of nearly 5% during the forecast period. Request Free Sample Pages.
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Read the 107-page research report with TOC and LOE on "The Global Cosmetics and Perfume Packaging Market, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
According to the forecasts, the plastic packaging segment will dominate the global cosmetics and perfume packaging market. It is among the highly preferred packaging materials that are low-cost, lightweight, and flexible to design. However, the growing awareness of the environmental impact caused by the consumption of plastic and the tightening regulations will compel suppliers to substitute non-degradable petrochemical polymers such as PE, PP, and PA with PLA to reduce the environmental impact of their operations.
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Insights into the market price trends
- Raw materials for cosmetics and perfume packing primarily include polyethylene, polypropylene, polyamide, metals such as aluminum and tin, and glass. Frequent volatilities in crude oil prices will trigger a significant hike in the prices of polymers. This will increase suppliers' manufacturing costs which will inflate the cosmetics and perfume packaging market price.
- Aluminum prices are expected to rise owing to the production cut in China, which will create a supply deficit. Prices of tin are also expected to increase due to high demand growth globally compared with the supply growth.
What are the strategies to adopt to optimize procurement spend in this market?
Evaluate non-price factors for selecting a supplier
Buyers are advised to conduct a comprehensive analysis of various non-price factors that can help optimize efficiencies across the supply chain and packaging spend. Lead time, production capacity, feedstock price stability, among others, are some of the non-price factors that buyers must consider while negotiating with a supplier.
Adopt the unit-based pricing model
It is one of the widely adopted pricing models in the cosmetics and perfume packaging market that offers transparency as the total cost is based on the price of each unit. The adoption of the unit-based pricing model will help buyers to reduce inventories, as they can procure the minimum required quantity.
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Some of the key topics covered in this report are:
- Cosmetics and perfume packaging market spend segmentation by region
- Total cost of ownership analysis in the cosmetics and perfume packaging market
- Regional spend opportunity for cosmetics and perfume packaging suppliers
- Cosmetics and perfume packaging suppliers cost structure
- Cosmetics and perfume packaging suppliers models analysis
- Cosmetics and perfume packaging procurement best practices
- Category management objectives
- Cost saving opportunities in the cosmetics and perfume packaging market
Free sample of reports that you may like:
- Global Plastic Bags and Pouches Industry Procurement Market Intelligence Report
- Global PET Packaging Market Procurement Intelligence Report
- Global Paper and Paperboard Packaging Market Procurement Intelligence Report
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