Amcor (Australia) and Berry Global Inc. (US) Key Players in the Cosmetic Packaging Market

The global cosmetic packaging market size is projected to grow from USD 49.4 billion in 2020 to USD 60.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.03% during the forecast year. The growth of this market is attributed to the change in the style of packaging, innovative & premium package designs, and boost in the demand for cosmetics due to the rising youth population.

The cosmetic packaging market has been dominated by large players, such as the Amcor PLC (Australia), Berry Global Inc. (US), DS Smith PLC (UK), Sonoco (US), and Huhtamaki Oyj (Finland). These players have adopted various growth strategies, such as expansions, new product developments, and acquisitions, to increase their market shares and enhance their product portfolios.

Acquisitions accounted for the largest share of all the strategic developments that took place in the cosmetic packaging market between February 2016 and January 2020. Key players such as Amcor PLC (Australia), Berry Global Inc. (US), Sonoco (US), Huhtamaki Oyj (Finland), AptarGroup, Inc. (US), TriMas Corporation (US), and HCP Packaging (China) adopted these strategies to strengthen their business portfolios and presence in the cosmetic packaging industry.

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Amcor (Australia) designs highly versatile cosmetic packaging solutions that are innovative, available with a one-way integrated valve, and offer ease of disposal. Innovation, excellence in manufacturing, and a broad range of technologies are the key strengths of the company. The company caters to the food, healthcare, beverage, home, tobacco, and personal care industries through its broad range of flexible and rigid packaging products. Amcor is currently focusing on reducing the carbon footprint by making the packaging material lighter, increasing the recycling rate of raw materials, developing efficient transport and re-closable packaging, and creating packaging material sustainable to heat treatment.

Berry Global Inc. (US) is one of the key manufacturer and supplier of a range of innovative rigid and flexible products for the consumer as well as industrial end markets. Berry Global focuses on expanding its customer base in various regions by offering an attractive product portfolio for cosmetic packaging. Along with a strong footprint worldwide, the company also focuses on offering an innovative & sustainable solution to the cosmetic industry for its cosmetic packaging. It has a strong foothold across the globe with 130 manufacturing facilities in North America, Asia, Europe, South America, and the Middle East.

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Significant growth for biodegradable mulch films is observed in the Asia-Pacific region

The Asia-Pacific region is projected to grow at the highest rate in the biodegradable mulch films market. China is on the top of the list in terms of sales of biodegradable mulch films. Increasing population, especially in the Asia-Pacific region, has resulted in increasing demand for food, which will lead to increased usage of biodegradable mulch films in crop production. The rising population and shrinking agricultural land due to industrialization and urbanization have compelled farmers to produce more in the same land holding. Hence, farmers are using biodegradable mulch films in large numbers owing to its lower impact on environment, while enhancing crop yield by reducing competitive weed pressure, maintaining soil moisture levels, and modulating soil temperature.

The high cost of installation of biodegradable mulch films is one of the key factors that restrict their implementation, primarily in developing nations. Despite the market having significant potential in developing nations such as India, the high initial cost has become a cause of concern for farmers. In addition, the machines used to level and shape the soil and apply the biodegradable mulch films add to the cost. The average land holding per farmer is decreasing gradually because of increasing population. This affects the purchasing power parity of farmers and lowers the sale of biodegradable mulch films. Thus, high investment in mulching becomes a limiting factor for the biodegradable mulch films market, especially in developing countries.

In addition, biodegradable mulch films do not produce wastes that require disposal, and hence represent a sustainable ecological mulching alternative and wide acceptance in the region. Biodegradable mulch films have a favorable growth in this region.

The global biodegradable mulch films market size is projected to grow from USD 35.76 Million in 2016 to USD 52.43 Million by 2021, at a CAGR of 7.95% from 2016 to 2021. The growth of biodegradable mulch films market can be attributed to the rising demand of biodegradable mulch films in greenhouse, increased applications in agriculture, and rising environmental concerns that shifted the focus of growers toward eco-friendly mulch films.

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The biodegradable mulch films market is diversified and competitive, with a large number of players. The key players in this market include BASF SE (Germany), Kingfa Sci & Tech Co Ltd (China), BioBag International AS (Norway), AEP Industries Inc. (U.S.), and RKW SE (Germany), while other players include British Polythene Industries PLC (U.K.), Armando Alvarez (Spain), Al-Pack Enterprises Ltd. (Canada), Novamont S.Pa. (Italy), and AB Rani Plast OY (Finland). These players have adopted various strategies to expand their global presence and increase their market share. Expansions, agreements, joint ventures, mergers & acquisitions, and new product launches & technological advancements are some of the major strategies adopted by the market players to achieve growth in the biodegradable mulch films market.

Kingfa Sci & Tech Co Ltd (China) launched 30,000 metric tons of capacity of biodegradable EcoPond-branded polylactic acid/polybutylene succinic polymer, which helped it to develop a leading position in the market. Novamont S.Pa. (Italy) introduced Mater-Bi agricultural mulching films for strawberries. These mulch films are biodegradable in the soil and ensure mulching over the crop cycle. This launch has helped the company in catering the demand of its large eco-friendly customer base.

The biodegradable mulch films market traditionally brought innovations in raw materials used to ensure effective functioning of biodegradable mulch films. It is keeping pace with technological advances seen in the agriculture industry and is poised to attain economic and technological expansions in the near future.

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