Asia Pacific Cosmetic Packaging Market Size, Growth | 2031

Report Description

The Asia Pacific cosmetic packaging market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.5% during 2023–2031. The growth of the market is attributed to innovative package designs, changing style of packaging, and increasing demand for cosmetics owing to the growing youth population.

The cosmetic industry is driven by rising engaged customer base economies such as India, Japan, China, and Indonesia. Moreover, factors such as cosmetic products based on affordability, increasing beauty consciousness in the consumers, and e-retailing are boosting the market.

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Consumer spending on cosmetics in the region continues to expand, facilitates the trend toward adopting packaged, processed, and expensive products. Decorative and skincare cosmetics are growing steadily, with medical skincare and facial care observing a rapid demand. Furthermore, growth potential is also provided by anti-aging products and those intended to protect against environmental pollution.

The Covid-19 pandemic had an unpleasant impact on the cosmetic packaging market. The companies moved to source away from China and reconsidering the raw materials that are used in packaging and suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for cosmetics owing to shifting trends of grooming among both gender types is expected to boost the market in the forecast period.

• Innovation in packaging is the key factor for attracting consumers, thereby; increasing new entrants in the cosmetic industry is impacting the overall expansion of the packaging industry in the near future.

• Emerging economies with increasing disposable income and changing lifestyles is estimated to propel the demand of cosmetics and aid in growth of Asia Pacific cosmetic packaging market.

• Growing e-commerce and internet penetration in rural as well as urban areas is projected to fuel the market growth in coming years.

• The introduction of eco-friendly and sustainable packaging has caused upsurge demand and enormous opportunities for cosmetics packaging industry

• R&D investment and technological advancement in cosmetic packaging market are expected to offer lucrative opportunities for the market players.

Scope of Asia Pacific Cosmetic Packaging Market Report

The report on the Asia Pacific cosmetic packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Asia Pacific Cosmetic Packaging Market Segment Insights

The plastic segment is projected to constitute a large market share

Based on material type, the Asia Pacific cosmetic packaging market is segregated into plastic, glass, metal and paper. The Plastic segment is expected to account for a key share of the market during the forecast period owing to its wide application and low-cost properties.

In order to pack the product into small units, companies prefer plastic as a packaging material, thus fueling the segment growth. However, paper segment is anticipated to expand at a rapid pace during the forecast period due to its wide application in the market and growing trend of eco-friendly packaging.

Plastic bottles and containers segment is expected to register a substantial CAGR

Based on product type, the Asia Pacific cosmetic packaging market is divided into plastic bottles and containers, glass bottles and containers, metal containers, folding cartons, corrugated boxes, tubes and sticks, caps and closures, pump and dispenser, droppers, ampoules and flexible plastic packaging.

The plastic bottles and containers segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to its significant and versatile properties and low cast incurred by the manufacturers.

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Skin care segment is expected to grow at a robust pace

Based on cosmetic type, the Asia Pacific cosmetic packaging market is segregated into hair care, color cosmetics, skin care, men's grooming and deodorants. The skin care segment is expected to grow at a rapid pace due to rising awareness about the natural products for skin, which have no adverse effect and are beneficial for skin and ecommerce and advertisement of skin care products.

China is expected to dominate the market

In terms of geography, the market is broadly classified as China, India, Japan, Australia, South Korea, Indonesia, Thailand and Rest of Asia Pacific. China is anticipated to expand at a robust CAGR during the forecast period.

Introduction of different varieties of the product and growing adoption by the consumers due to increasing awareness about different benefits such as anti-tanning solution has driven the market in the region are anticipated to boost the market growth over the coming years.