4 key global packaging trends revealed
According to the market research firm, the worldwide beauty packaging industry showed good volume growth over the five year period of 2011 - 2016, rising at a 3% CAGR. It exceeded 146 billion units in 2016.
“While developed regions slowed down global growth during this period, stronger expansion remains in developing regions, particularly in Asia Pacific, where larger gains in absolute growth terms are found in oral care, hair care and skin care packaging,” the firm explains.
It pulls out the following as its key trends for BPC packaging: changing habits in developing markets, convenience of us, value for money and eco-friendly packaging.
Changing habits in developing markets
According to the new report, emerging countries are continuing to drive volume sales, with single use flexible plastic sachets a dominant solution in countries such as India and Indonesia where per capital spending remains low.
The firm reckons that as emerging markets develop, the evolving demands of consumers will be one of the four key global trends for the BPC packaging market to consider.
“Consumers’ purchasing habits and preferences evolve, particularly in fast-growing developing regions, impacting packaging and creating shifts between packaging types.”
Convenience of use
Another key global trend highlighted in the report is convenience of use, with beauty consumers increasingly demanding functional packaging.
“As consumers become more demanding in terms of packaging, brand owners and packaging manufacturers innovations go towards more functional packaging,” the firm states.
Value for money
Hand in hand with convenience and functionality is a rising emphasis on value, according to the report.
“Consumers continue to be cautious about their spending when it comes to beauty and personal care product,” the firm notes.
“Meanwhile, they also want to have a wider choice of beauty products available at home.”
Eco-friendly packaging
As the global market continues to grow, with it grows consumer awareness of its environmental impact, and concern for eco-friendly solutions.
“Globally, consumers are increasingly aware of the impact that packaging has on the environment. They are therefore seeking greener packaging solutions.”
Practical results of these trends
The firm’s analyst, Mylan Ngyuen, notes: “Increased consumer interest in greener packaging coupled with brand owners and packaging manufacturers’ growing involvement in sustainability will continue to ensure that new innovations come on stream.”
He reckons that refillable pouches are likely to gain ground, alongside compressed metal aerosol cans in smaller pack sizes.
“Developing more environmentally-friendly packaging solutions will be an important influencer for both brand owners and packaging manufacturers, if also communicated well to consumers.”
