Global personal care packaging market predicted to reach value of US$38.1bn by 2019

Global personal care packaging market predicted to reach value of US$38.1bn by 2019

The global market for personal care packaging is expected to reach a value of US$38.1bn by 2019, according to a new report by The Association for Packaging and Processing Technologies.

The market is predicted to grow at a compound annual growth rate (CAGR) of 5.5 percent over the next five years, the Personal Care Market Assessment found.

Bottles are the most common type of packaging used, accounting for 30 percent of the market. Demand for bottles is expected to grow by 28 percent by 2019.

Demand for cartons is also predicted to rise. Cartons have recorded the highest growth since 2010, increasing from 9 percent of the market to 19 percent.

Plastic is the most common packaging type used, dominating 61 percent of the market. The study found that projects plastic will remain dominant, growing by 12 percent by 2019.

Despite the rising demand for plastic packaging, the report highlighted sustainability as a key trend in the market and predicted that brands will increasingly seek biodegradable alternatives to plastics such as plant-based resins. It also noted that companies will start using less packaging material to present products.

Demand for “convenience” products in smaller and more portable packaging is expected to increase. For example, consumer appetite for travel-sized toothbrushes, makeup remover wipes and hand sanitizers is surging, the report found.

Well-developed markets, including North America and Europe, are expected to see slower growth rates in cosmetics than developing markets such as Asia-Pacific and Latin America.