Choosing the right pack size could spell the difference between success and failure in the beauty industry according to a new study. Euromonitor International’s 4 Key Global Trends for Packaging in Beauty and Personal Care states that affordable pack sizes are an essential key when targeting price-conscious consumers.
“Choosing the right pack size can help brand owners and packaging manufacturers to keep prices low in order to ensure that products remain affordable and are marketed at the right price point,” Mylan Ngyuen, Packing Analyst at Euromonitor, told Cosmetic Business.
“For example, single-use flexible plastic sachets in offer an entry price point to consumers with lower disposable income, while it also fits these markets’ independent retail landscape.”
According to the market analysis company, the beauty and personal care packaging industry has seen increased volume growth over the 2011-16 period, rising at a CAGR of 3% to exceed 146 billion units.
“With consumers demanding more from products, packaging that also delivers added value and functionality will continue to play a strong role in the purchasing decision,” said Ngyuen.
Other driving trends mentioned in the report included value for money, convenience of use and eco-friendly positioning. “Refillable pouches with their lightweight and sustainable properties are likely to continue to gain ground while compressed metal aerosol cans in smaller pack sizes that address both green concerns and convenience are another candidate for growth,” said Ngyen.