The latest cosmetics packaging market data released by Transparency Market Research shows that by 2024, the global cosmetics packaging industry is expected to reach 33 billion U.S. dollars.
The global cosmetics packaging industry was valued at 23 billion U.S. dollars in 2015. The industry compound annual growth rate will stabilize at 4.4%. Among them, there are more and more beauty consumers in emerging markets such as the Asia-Pacific region, the Middle East and Latin America, which are considered to be the main driving force for the growth of the packaging industry.
According to a Chinese brand engineer, the Asia-Pacific region is the main source of income for the cosmetics packaging market. In 2016, the region accounted for 32.5% of the global cosmetic packaging market, and this growth rate is expected to maintain in the next few years.
Transparency market research said that as more and more young people gradually urbanize, obtaining more disposable income is also one of the driving forces of growth. The analysis pointed out: "Packaging innovation may have a greater impact on young people, and this group of people happens to be the main target group of most cosmetics companies."
In addition, studies have shown that plastics will still be the first choice for cosmetic packaging in the near future; however, glass is increasingly applied to high-end products. Besides, with the environmental awareness in recent years, paper packaging and the use of wood will also show an upward trend.
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