Our take: Asian market insights, economic statistics, regulations and formula trends for cosmetics and personal care products are driving packaging choice and innovations... | -------
Last year, Packaging Digest identified “5 advances and packaging trends in the beauty universe.”
We now take a deep dive into a narrower segment —the Asian market— which is exerting significant sway as it relates to new packages and digital technology innovations.
First, let’s look at an overview of the market, its regulations, diversities and commonalities. Then we’ll discuss the packaging impacts and digital vision of the future.
Estimated at €198 billion, the global cosmetics market is looking good.
The breakdown by country is: Relatively stable, the cosmetics market has had an average annual growth rate (AAGR) of 3.8 percent for the past 10 years (except 2009 because of the Great Recession). The global segment breakdown for 2016 was skin care (36.3 percent), hair care (22.9 percent), makeup (18.2 percent), fragrance (12 percent) and hygiene (10.5 percent).
The European cosmetics market in 2014 was estimated at €72.5 billion with this breakdown: Germany €13.01 billion, France: €10.58 billion, UK: €10.40 billion, Italy: €9.39 billion and...
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