Plastic packaging is dominating the personal care market, with 61% market share, bottles, jars, compacts and tubes for cosmetics and other personal care products are in high demand. Plastic will keep its crown for the foreseeable future, with an expected 12% growth by 2019. Bottles are the most commonly used container, accounting for 30% of the market and are expected to grow 28% through 2019.
Seeing as a lot of packages for health and beauty products need to be break-resistant and/or portable, the demand for plastic isn't a shock to the system. By 2019, this ever expanding market is projected to be worth $38.1 billion, with developing nations such as Latin America and Asia-Pacific seeing higher growth rates than developed countries. As of now, the U.S alone represents about one-sixth of the worldwide total, spending an estimated $4 to $5.1 billion each year on beauty and personal products.
These figures come from the 'Personal Care Market Assessment' report by PMMI and identifies the top five global trends and challenges in the personal care market:
The future looks bright for the plastic packaging market and we look forward to growing with it as a company.
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