Data show that in 2024, the cosmetics packaging market will reach RMB 223.5 billion. Among these, plastic remains the dominant material, while the use of paper and wood is on the rise.

Recently, Transparency Market Research, a globally renowned market research firm, released data on the cosmetics packaging market. The figures indicate that by 2024, the global cosmetics packaging industry is expected to reach US$33 billion (approximately RMB 223.5 billion).

According to available data, the global cosmetics packaging industry was valued at US$23 billion (approximately RMB 115.6 billion) in 2015. Research indicates that from 2014 to 2024, the sector’s annual compound growth rate will remain steady at 4.4%. Notably, the growing consumer base for beauty products in emerging markets—including the Asia-Pacific region, the Middle East, and Latin America—is seen as the primary driver of growth in the packaging industry.

An engineer from a domestic brand told a reporter at Cosmetics Finance Online that, to their knowledge, the Asia-Pacific region is the primary source of revenue for the cosmetics packaging market. In 2016, the region accounted for 32.5% of the global cosmetics packaging market, and this growth rate is expected to persist in the coming years.

Transparency Market Research notes that, as more young people become urbanized and gain greater disposable income, this is also one of the key drivers of growth. The analysis points out: “Packaging innovation may have an even stronger appeal to younger consumers—precisely the demographic that constitutes the primary target group for most cosmetics companies.”

Furthermore, research indicates that plastics are expected to remain the material of choice for cosmetic packaging in the future; however, with the growing use of glass in premium‑segment products, it too will capture a “significant share.” As environmental sustainability has become a major topic in recent years, the use of paper and wood in packaging is also poised to increase.