Market Trends of Personal Care Packaging Industry
Skincare Segment to Witness Growth
- Effective skincare product packaging is essential for captivating customers and guaranteeing product safety and effectiveness. For skincare brands, choosing the right packaging is critical in making a favorable initial impact and improving overall user satisfaction. Skincare packaging primarily shields the product from external elements like light, air, and impurities. The growing global demand for skincare products is anticipated to boost opportunities in the packaging industry.
- The packaging of skincare items may vary depending on the type of product, but the main purpose of the packaging remains to protect the contents within. The increasing demand for skincare products from numerous companies is fueled by factors like people鈥檚 desire to combat aging signs, the growing awareness of skincare regimens, and the impact of social media. This rising demand significantly affects the market demand for skincare packaging production.
- As a result of the impact of famous individuals and the growing need for top-notch skincare items, the surge of these celebrity-endorsed brands is boosting the global demand for skincare products. Many skincare products include light-sensitive ingredients such as oils, which can easily interact with other substances when exposed to light. This can lead to faster breakdown or destabilization, rendering the products ineffective. To avoid these issues, the importance of skincare packaging that can block out light is on the rise.
- Expenditure on skincare has risen across different age demographics in recent times. The skincare industry has seen an increase in demand, necessitating tailored solutions to meet the diverse needs of consumers. Customized skincare items have become popular among individuals in developing nations due to the growing preference for natural beauty products. For example, Est茅e Lauder, a leading global skincare and cosmetics company, reported net sales of USD 8.2 billion for skincare products as of August 2023. This high demand for skincare products worldwide is projected to boost opportunities in the packaging industry and expand the market's potential.
- The change in consumer behavior has resulted in a rise in the need for contract manufacturers to create male-focused personal care items that cater to the changing preferences and demands of both male and female consumers. Contract manufacturers play a crucial role in assisting brands with the efficient and effective development and production of gender-specific products. Their capacity to adjust to consumer requirements is a key factor driving the expansion of the contract manufacturing industry within the skincare and specialty products categories. The growing focus on research and development, along with the increasing popularity of skincare products based on natural ingredients, has motivated manufacturers to introduce innovative products.
- Creative packaging options, such as airless pumps and dropper bottles, play a crucial role in maintaining the effectiveness and longevity of products, all while promoting cleanliness. Interactive packaging, similar to QR codes, enables virtual product trials and tailored suggestions. Moreover, there is an increasing emphasis on sustainability, offering choices like recyclable plastic or packaging crafted from eco-friendly materials such as bamboo or biodegradable substances.
- In March 2024, APC Packaging, a sustainable packaging solutions provider based in the United States, introduced the EcoReady All Plastic Airless Pump (EAPP), a novel solution for skincare items. This pump is crafted with cutting-edge airless technology and is constructed entirely from top-notch, long-lasting plastic. Unlike traditional pumps, it does not rely on a metal spring. The cap, actuator, and bottle of the pump are all fashioned from polypropylene (PP) material. The EAPP is offered in capacities of 15ml, 30ml, and 50ml. Its airless technology guarantees precise and consistent volume dispensing while safeguarding the quality of skincare formulations. Such significant vendor developments are expected to drive the market鈥檚 growth.
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Asia-Pacific Expected to Register Major Growth
- The personal care packaging market is anticipated to be dominated by Asia-Pacific countries. This dominance is projected to persist over the forecast period due to the increasing need for personal care products with lightweight packaging in countries such as India, China, Korea, and Japan, thereby propelling the personal care packaging market in the region. Additionally, the growth of the middle-income group, Western cultural influences, and rising incomes all contribute to the market's upward trajectory in Asia-Pacific.
- For example, the skincare industry in Korea is projected to experience rapid growth in the upcoming years. With the elevated pollution levels in Korean urban areas, a significant number of individuals are experiencing dry skin, irritation, and skin rashes. These circumstances are anticipated to drive the need for skincare products, consequently contributing to the demand for personal care packaging in Korea. In response to the increasing interest in Korean beauty items, many companies have launched skincare products that are either manufactured in Korea or influenced by Korean beauty traditions.
- High-tech anti-aging beauty products are a key focus at Asian trade shows, particularly at Korean beauty shows. In September 2023, Hy Co. Ltd, formerly known as Korea Yakult, introduced Leti7714 triple lift-up anti-aging cream with three powerful anti-aging ingredients. To preserve the efficacy of these active ingredients, specialized packaging like glass containers is necessary to shield them from oxidation caused by air and light exposure. The increasing popularity of these cosmetics will drive the expansion of packaging materials for cosmetics.
- Cosmoprof India 4th Edition, which occurred in December 2023, was a vital platform for the cosmetic packaging industry, offering various opportunities for growth and advancement. It showcased the latest trends and product launches, enabling packaging manufacturers and cosmetic brands to stay informed about evolving consumer preferences and market demands. Such insights drive innovation and adaptation in packaging solutions. Furthermore, these events foster networking and collaboration by bringing together diverse stakeholders such as suppliers, brands, retailers, distributors, and industry professionals.
- Moreover, there is anticipation of a notable surge in the Japanese market. According to the Statistics Bureau of Japan, the revenue generated by the make-up and skincare industry (including perfume and eau de cologne) in Japan is projected to hit USD 18.12 billion by the end of 2024, marking a 2.89% increase from 2023, when it stood at USD 17.61 billion. This heightened demand is fueling the expansion of the personal care packaging market in Japan. Additionally, the growing awareness of grooming, especially among men, the rise in income levels, and the increasing consumption of various personal care products in the region will drive the growth of the Asia-Pacific market.
- In recent years, consumers have placed a growing emphasis on beauty and personal care trends that prioritize being 'natural' and 'cruelty-free.' This shift toward more sustainable and eco-friendly products, as well as those made with natural ingredients instead of chemicals, has led to a rise in the popularity of such items in Southeast Asian countries. Moreover, the rise in online shopping in nations like Korea and China has significantly influenced the growth of personal care packaging in Asia-Pacific.
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