Recently, Transparency Market Research, a world-renowned market research company, released the latest cosmetic packaging market data. Data show that by 2024, the global cosmetics packaging industry is expected to reach 33 billion US dollars (about 232.5 billion yuan).
It is understood that the global cosmetics packaging industry in 2015 as a whole valuation of 23 billion US dollars (about 115.6 billion yuan). The latest research shows that from 2014 to 2024, the compound annual growth rate of the industry 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 drivers of growth in the packaging industry.
2024 Global Cosmetics Packaging Market 2
A domestic brand engineer told reporters that according to its understanding, 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 cosmetics packaging market and is expected to maintain this growth rate in the coming years.
Transparency market research states that as more and more young people gradually urbanize and gain more disposable income, it is also one of the drivers of growth. The analysis pointed out: "Packaging innovation may have a greater impact on young people, and this part of the population happens to be the main target group for most cosmetic companies."
In addition, research shows that plastics are still expected to be the first choice in cosmetics packaging; however, due to the increasing use of glass in high-end products, it will also occupy an “important share”; environmental protection is a hot topic in recent years, packaging paper and The use of wood will also show upward momentum.
