South Korea’s cosmetic dropper market is expected to develop at a 5.8% CAGR over the projected period, reaching a value of USD 4.7 million by 2034. One of the most important elements driving the South Korean market is the gradual expansion in the usage of the Internet as a means of purchasing both domestic and export cosmetics.
NEWARK, Del, Aug. 20, 2024 (GLOBE NEWSWIRE) — The global cosmetic dropper market is on a steady growth trajectory, with sales estimated to be worth USD 91.1 million in 2024 and anticipated to reach USD 132.3 million by 2034. This represents a projected CAGR of 3.8% over the forecast period from 2024 to 2034. The revenue generated by the cosmetic dropper industry in 2023 was USD 87.7 million, and the industry is expected to exhibit a year-over-year (Y-o-Y) growth of 3.7% in 2024.
Glass cosmetic droppers are set to dominate the global market, commanding over 70% of the market share. These droppers are expected to generate an incremental opportunity of nearly USD 20 million over the next decade.
Glass dropper bottles have become a preferred choice among consumers, particularly for the storage of delicate products such as essential oils. Their ability to maintain product integrity makes them indispensable in the cosmetic industry.
In addition to glass droppers, plastic cosmetic droppers are also gaining popularity, especially for luxurious and delicate cosmetic products. The durability of plastic makes it an ideal packaging material, offering a balance between functionality and luxury.
Reshaping the Cosmetics Droppers Market: The Impact of an Organized and Expanding Retail Sector
Over recent years, the global retail sector has emerged as one of the most dynamic and fast-evolving industries. The influx of small-scale players alongside major global retailers has fueled significant market expansion across multiple regions. This growth is further propelled by innovative business models, strategic portfolio management, and increased foreign direct investment (FDI) in retail markets.
The rapid penetration of modern retail is evident through the rise in the number of retail outlets, supermarkets, hypermarkets, and departmental stores worldwide. For example, the USA Census Bureau reported a nearly 10% year-over-year increase in the number of personal care stores across the USA as of November 2023.
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Key Takeaways from the Cosmetic Dropper Market
- The Cosmetic Dropper market generated a revenue of USD 87.7 million in 2023.
- The market is projected to experience a Year-on-Year (Y-o-Y) growth of 3.7% in 2024.
- The number of personal care stores in the USA saw a nearly 10% Y-o-Y increase in 2023.
- The United States is expected to dominate the North American market, holding a 78.2% value share through 2034.
- The German cosmetic dropper market is forecasted to reach USD 7.2 million by 2034, creating an incremental opportunity of USD 4.3 million between 2024 and 2034.
- South Korea’s cosmetic dropper market is anticipated to grow at a CAGR of 5.8% over the forecast period, reaching a valuation of USD 4.7 million by 2034.
- In 2022, cosmetics accounted for nearly 5% of overall sales in South Korea, with a consistent increase in market share predicted through 2030 according to the Korea Customs Agency.
Competitive Landscape
The majority of worldwide manufacturers are working on the development of cosmetic droppers to improve controlled dispensing. Some other significant players are working to develop cosmetic droppers that can meet the ESG objectives of cosmetic and personal care companies. Meanwhile, a few other companies are looking for additional funding to expand their operations, increase sales, and acquire a huge global consumer base.
To preserve their competitive advantage, key market manufacturers are working on growing their geographical presence, technical advances, meeting sustainability targets, executing mergers and acquisitions, and enhancing customer service.
Key Players
- Virospack SL.
- AptarGroup, Inc.
- LUMSON S.p.A
- Comar LLC
- FusionPKG
- Quadpack
- HCP Packaging
- DWK Life Sciences Ltd
- Taiwan K. K. Corp
- Bandall Company
- Carow Packaging, Inc
- Paramark Corporation
- APackaging Group
- Adelphi Healthcare Packaging
- SONE Products Ltd
Recent Industry Developments in the Cosmetic Dropper Market
- In May 2024, Aptar Beauty, a group company of Aptar Group introduced the NeoDropper, which will cater to the precision skincare market.
- In February 2024 APackaging Group announced the launch of the Infinity Dropper, an all-plastic, fully recyclable dropper. The product is expected to meet the growing demand for sustainable packaging solutions across the cosmetic industry.
- In September 2023, Investindustrial, a private equity firm announced the acquisition of the majority stake in Virospack, a manufacturer of premium cosmetics droppers.
Key Segments of the Cosmetic Dropper Industry
By Material:
In terms of material, the industry is divided into glass cosmetic dropper and plastic cosmetic dropper.
By Capacity:
In terms of capacity, the industry is segregated into up to 2 ml, 3 ml-6 ml, 7 ml- 10 ml, and above 10 ml.
By Application:
In terms of application, the industry is segregated into hair care, skin care, makeup, and nail care.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa (MEA) have been covered in the report.
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Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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