Continued Growth of Colour Cosmetics to Benefit Albéa
Albéa, the leading global manufacturer of rigid plastic packaging in beauty, specialises in speciality cosmetics containers, strongly benefiting from the dynamic colour cosmetics category. Still, to sustain future growth, innovation should remain a key focus for the company, both in more mature developed markets as well as in emerging markets such as China, India and Indonesia, where consumers enjoying higher disposable incomes increasingly expect more sophisticated colour cosmetics products and pack types.
Speciality Cosmetics Containers by Colour Cosmetics Category in 2014
Source: Euromonitor International
Colour cosmetics a winning category in all regions
Speciality cosmetics containers remain the main pack type for colour cosmetics. As such, cosmetics containers strongly benefits from the solid global growth of colour cosmetics, posting a CAGR of 3% over 2009-2014 to account for 3.8 billion units in 2014. Overall, lip products is expected to drive unit volumes of cosmetics containers, generating an additional 230 million units by 2019 globally, followed by eye make-up, growing by 193 million units.
Disparities exist between regions, with eye make-up accounting for the largest share in North America and Western Europe, while it is lip products that dominate in Asia Pacific and Latin America. The US, the largest market in terms of unit volume, accounted for a 22% share of the global market in 2014, thanks to its large mascara sales, representing 27% of all packaging volumes in colour cosmetics, while, in Asia Pacific, the main application for speciality cosmetics containers is for lipsticks, accounting for 42%.
All regions are forecast to see growth over 2014-2019, although Asia Pacific will generate the greatest unit growth, with sales of colour cosmetics strongly benefiting from rising disposable incomes in the region, combined with social image consciousness among Chinese, Indian and Indonesian consumers, which should also support growth of more premium products.
Focus remains on innovations for Albéa
In this context, Albéa is in a good position to cater to the growing demand for cosmetics containers as the company is present in the key regions of Western Europe and Northern America, where cosmetic container volumes are the greatest, but also in Asia Pacific and Latin America, where growth of speciality cosmetics containers in colour cosmetics is the most dynamic.
Still, it is important for the company to remain dynamic in terms of innovation and to continue to offer an extensive range of speciality cosmetics containers to cater to its wide range of clients. Recent examples of innovations include the sophisticated pack type for Givenchy’s Noir Couture mascara, launched in 2014, as well as Reine du Bluff concealer by Etam and Beauty’Full mascara by Bourjois.
Working closely with brand owners and delivering products tailored to their needs should be Albéa’s focus to expand its client base and keep its leading position within cosmetics containers.