Cosmetic Pencil and Pen Packaging Market is expected to grow from USD 2.6 billion in 2022 to USD 4.30 billion by 2030 : GreyViews

Cosmetic Pencil and Pen Packaging Market Size By Product Type (Mechanical Pencil, Wooden Pencil and Molded Pencil), By Material Type (Wood, Plastic, and Metal), By Application (Lip, Eye, Cheek Balm, Clean-Up Pencil, Skin Glossing Pencil, Concealer Pencil, and Sculpting Pencil), Regions, Segmentation, and forecast till 2030.

Pune India, Jan. 24, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the cosmetic pencil and pen packaging market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the cosmetic pencil and pen packaging market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, material type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global cosmetic pencil and pen packaging market are A.W. Faber-Castell Cosmetics GmbH, Alovey Cosmetic Packaging Co.,Ltd., Columbia Cosmetics Manufacturing Inc., Eugeng International Trade Co., Ltd., HCT Group, Intercos Spa, Schwan-STABILO Cosmetics GmbH & Co. KG among others. To achieve a substantial market share in the worldwide cosmetic pencil and pen packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Generally, cosmetic pencils and pens are personal care products used to draw out the beauty of the face via eyeliner, kajal, lip liners, lipstick, lip gloss, and many others. Since cosmetic pencils and pens are easy to apply, they are gaining popularity all over the world. In the period 2020 to 2030, the global cosmetic pencil & pen market is expected to grow due to the increasing interest among major populations worldwide towards purchasing easy-to-use cosmetic products. A growing concentration of major players in the cosmetic pencil & pen market is being directed toward improving product quality and packaging. This strategy has helped them attract more customers, while many enterprises in the cosmetic pencil & pen market are focusing on promotions. In addition to their ease of use, cosmetic pencils and pens are popular for application to your eyes and lips. Customers prefer cosmetic products that are convenient. Increasing women’s per capita income is primarily influencing the cosmetic pencil & pen market. Therefore, working women account for more than 20% of cosmetic sales worldwide and this percentage is expected to increase over the forecast period.
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Scope of Cosmetic Pencil and Pen Packaging Market Report:

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Product Type, Material Type, Application, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players A.W. Faber-Castell Cosmetics GmbH, Alovey Cosmetic Packaging Co.,Ltd., Columbia Cosmetics Manufacturing Inc., Eugeng International Trade Co., Ltd., HCT Group, Intercos Spa, Schwan-STABILO Cosmetics GmbH & Co. KG among others

Segmentation Analysis

Wooden pencil is expected to be the fastest-growing segment in 2022. 

The product type segment is a mechanical pencil, wooden pencil, and molded pencil. The wooden pencil segment is expected to witness the highest growth rate during the forecast period. Because of initiatives to decrease the usage of plastic products and expanding environmental concerns. The eco-friendliness of wooden pencils is primarily expected to boost segmental expansion over the course of the forecast period.

Plastic is expected to be the fastest-growing segment in 2022. 

The material type segment is wood, plastic, and metal. The plastic segment is expected to witness the highest growth rate during the forecast period. There is a strong demand for cosmetic pencils and pens in the global market due to the advantages and convenience of plastic packaging.

Eye is expected to be the fastest-growing segment in 2022. 

The application segment is lip, eye, cheek balm, clean-up pencil, skin glossing pencil, concealer pencil, and sculpting pencil. The eye segment is expected to witness the highest growth rate during the forecast period. Several factors led to this, including the sheer volume of individual applications, such as mascara, kajal, and eyeliner. The eye is regarded as the primary feature for improving aesthetic appeal and promoting segmental development.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the cosmetic pencil and pen packaging market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The Asia Pacific region witnessed a major share. There are several factors driving the growth of the cosmetic pencil and pen market, including a rise in disposable income, a rise in female interest in aesthetic appearance, and an increase in the elderly population and their desire to look younger, among others. Moreover, new opportunities will also be created for the cosmetic pencil & pen market in the forecast period due to the increase in research and development activities to develop advanced plastics, as well as technological advances and modernization in production techniques.

Country Analysis

  • Germany

Germany’s cosmetic pencil and pen packaging market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 0.33 billion by 2030, at a CAGR of 6.6% from 2023 to 2030.
The increasing adoption of cosmetics in the region is expected to boost the market for cosmetic pencils and pens over the forecast period.

  • China

China’s cosmetic pencil and pen packaging market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.42 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. Growth in the region is primarily driven by synthetic or natural products that improve the texture of the body or the appearance of the face.

  • India

India’s cosmetic pencil and pen packaging market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.32 billion by 2030, at a CAGR of 6.9% from 2023 to 2030.
The major population in the region spending more on cosmetic products is one of the important factors driving the country’s cosmetic pencil & pen market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising cases demand for personal grooming products.

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GreyViews
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