Market Size of Personal Care Packaging Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 24.17 Billion |
| Market Size (2029) | USD 29.60 Billion |
| CAGR (2024 - 2029) | 4.14 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Personal Care Packaging Market Analysis
The Personal Care Packaging Market size is estimated at USD 24.17 billion in 2024, and is expected to reach USD 29.60 billion by 2029, growing at a CAGR of 4.14% during the forecast period (2024-2029).
The personal care and cosmetic industry packaging has witnessed robust growth in recent years. The cosmetic industry has the most varied packaging requirements of all the other sectors, and it now seems united to reduce the impact on the environment with new thoughtful packaging strategies and refined formulations.
- With a growing focus on sustainability, many cosmetics manufacturers seek more natural and eco-friendly ingredients and emulsifiers. The advantages of ‘green’ beauty products go beyond trends. More and more research shows the toxicity of traditional cosmetics, and the market for natural cosmetics continues to grow quickly and sustainably.
- The global shifting consumer preferences toward the beauty industry drive the potential market for organic and natural cosmetic products, mainly due to the awareness of the effects of synthetic ingredients and the desire for natural ingredients.
- The rise in demand for personal care products, increase in consumer awareness, premium on personal grooming, changes in consumption patterns and lifestyles, and raising awareness of beauty products in emerging countries are driving companies’ investments to develop innovative packaging solutions.
- Since the start of 2023, the cost of regulation has dropped by as much as 50% in the European Union (EU), and low-cost imports from non-EU countries have increased. The European plastics industry may be at risk due to low demand for EU-produced recycled and high imports from non-European countries. Plastics Recyclers Europe recommends an independent third-party certification system to guarantee transparency and traceability.
- The cosmetics industry started to recover as the effects of COVID-19 dissipated. However, beauty brands might face new challenges in 2024 as inflation, an uncertain economic climate, and geopolitical tensions continue to weigh on consumer confidence. As a result, consumers are increasingly looking for multi-functional and cost-effective beauty and personal care solutions. During the Post-pandemic period, customers seek recycled, sustainable packaging with the least possible adverse environmental effects. Recycled materials are not used in the several varieties of plastic packaging the cosmetics industry employs due to technical limitations and current laws.
