The Europe plastic cosmetic packaging market is set to gain traction from the increasing demand for packaging made of recyclable and eco-friendly materials. In January 2020, for instance, Colgate-Palmolive unveiled a new range of toothpaste named Smile for Good in Europe. It comes in fully recyclable tubes and is certified vegan. The company wants to share the recyclable plastic packaging technology with its rivals. This information is given by Fortune Business Insights™ in a new study, titled, “Europe Plastic Cosmetic Packaging Market, 2021-2028.” As per the study, the market size was USD 1,266.7 million in 2020 and is projected to reach USD 1,584.0 million by 2028, exhibiting a CAGR of 2.9% during the forecast period.

COVID-19 Pandemic: Limited Socializing to Reduce Demand for Cosmetics

The outbreak of the COVID-19 pandemic has severely affected the supply chain of various manufacturers operating in this industry because of restrictions on raw material transportation and lockdown measures. Also, the demand for cosmetics has reduced on account of work-from-home practices and limited socializing. We are providing accurate research reports to help you find the best strategy.

Report Coverage:

We have utilized econometric models for short-term forecasting. But, technological models were used for long-term estimations. These are based on the business principles, economic outlook, regulatory frameworks, and the technology landscape. We have also conducted interviews with domain experts, suppliers, buyers, and technology providers to get a holistic picture of the market for Europe plastic cosmetic packaging.

Source: https://www.fortunebusinessinsights.com/europe-plastic-cosmetic-packaging-market-105171