The latest data show that in 2024, the cosmetics packaging market will reach 223.5 billion yuan. Among them, plastic is still the first choice, and the use of paper and wood is showing an upward trend.

Recently, the world-renowned market research company Transparency Market Research (TransparencyMarketResearch) 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 223.5 billion yuan).

It is understood that the overall valuation of the global cosmetics packaging industry in 2015 was 23 billion U.S. dollars (approximately RMB 115.6 billion). The latest research shows that from 2014 to 2024, the industry’s 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.

A domestic brand engineer told the reporter of Cosmetic Finance Online that according to his 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 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 these people happen to be the main target groups of most cosmetics companies.”

In addition, studies have shown that plastics are still expected to be the first choice for cosmetic packaging in the future; however, due to the increasing application of glass in high-end products, it will also occupy an “important share”; environmental protection has been a hot topic in recent years. The use of wood will also show an upward trend.