Market Trends of Asia Pacific Cosmetic Packaging Industry
This section covers the major market trends shaping the APAC Cosmetic Packaging Market according to our research experts:
Plastic Packaging is Expected to Drive the Market Growth
- Plastic is one of the most commonly used and preferred materials for cosmetic packaging. Numerous cosmetic products on the market come in plastic bottles and containers, owing to the material's easy molding, structuring, design capability, and protection.
- Plastic bottles and containers are the most popular types of primary packaging in the cosmetics industry. They have held a large share of the market for the past five years without any competition.According to a National Geographic study, plastic packaging is used 120 times more in cosmetic packaging today than it was in 1960.
- Plastic packaging is used in multiple personal care products, such as cosmetics, toiletries, and more. Also, sophisticated cosmetics, such as special oils, vitamins, and herbal compounds, need high protection from light and contamination. These products also require an extended shelf life. Thus, flexible and multi-layer barrier plastic packaging films are used.
- In March 2021, cosmetics brand Garnier stated that it aims to stop using virgin plastic for all packaging by 2025. Also, the company indicated that its factories and manufacturing units would become carbon-neutral by 2025. The company would use reusable, recyclable, or compostable materials in all packaging, saving 37,000 metric tons of plastic annually under its sustainability program, Garnier Green Beauty.
- Chinese beauty brands are innovating sustainable cosmetic packaging solutions. For instance, in July 2022, Top Cosmetics launched its core facial cream products with packaging made from Eastman's mass-balanced Cristal Renew copolyester with 50% certified recycled content. The new packaging is developing close collaboration in the value chain between onTop, WWP Beauty, and molecular recycling company Eastman.
Additionally, according to Plast India, the demand for polypropylene (PP) is on the higher side and was around 6.1 million metric tons in 2021-2022, while high-density polyethylene (HDPE) and polyvinyl chloride (PVC) stood at 2.9 and 2.8 million metric tons, respectively.
Understand The Key Trends Shaping This Market
Download Sample
China is Expected to Register Significant Growth
- The cosmetics market in China has been one of the fastest-growing sectors in the last few years, benefiting from an increasingly engaged consumer base, which is augmenting the growth of the market studied.
- Consumer spending on cosmetics continues to grow, facilitating the trend toward adopting processed, packaged, and expensive products. Skincare and decorative cosmetics are growing soundly, with facial care and medical skincare witnessing robust demand. Moreover, growth potential is also provided by anti-aging products and those intended to protect against environmental pollution.
- China's State Administration for Market Regulation's China GB 23350-2021 "Requirements of Restricting Excessive Package-Foods and Cosmetics" announced in March 2021 that September 2021 would be an amendment to existing standards released in 2009, giving cosmetics companies two years to redesign their product presentation.The new Chinese standard targeted at controlling excessive packaging is planned to come into force in September 2023. This is expected to be a challenge for the cosmetics sector in the short term but is anticipated to promote sustainability in the long run.
- The inevitability of the sustainable beauty trend is pushing companies in the cosmetic manufacturing industry to develop more eco-solutions for consumers in the country. Moreover, due to government regulations, many Chinese cosmetics brands have been shifting to sustainable packaging. For instance, in July 2022, onTop launched packaging made with Eastman Cristal Renew copolyester with 50% certified recycled content.
- Owing to the increasing demand for paper-based packaging products, global companies are also investing in China. For instance, in June 2021, Huhtamaki completed the acquisition of Jiangsu Hihio-Art Packaging Co. Ltd., a China-based manufacturer of paper bags, wraps, and folding carton packaging. Developments like these are also expected to occur in paper packaging for cosmetic packaging.
- Also, China is the world's largest plastic producer by far, accounting for nearly one-third of global plastic production. According to the National Bureau of Statistics of China, the production of plastic products in December 2021 was 7.95 million metric tons, the highest since January 2020.
Get Analysis on Important Geographic Markets
Download Sample
