Growth in premium anti-aging products points to packaging opportunities
If consumers are going to pay a high price for the best anti-ageing products on the market, then it goes without saying that they will require packaging that performs as well as the claims made by the formulation experts.
But not only is the functionality and aesthetics of the packaging often of vital importance to the consumer, it is also of the highest importance to ensure the correct dosing, as well as ensuring the integrity and safety of the formulation.
Premium anti-agers reign supreme
According to market research experts Euromonitor, the figures for the global anti-ageing market shows that it was valued at $24 billion in 2012, and demonstrated a consistently strong CAGR of 7 per cent in the period 2007 – 2012.
Although the premium anti-ageing market only accounts for an approximately one eighth slice of the market volume the premium pricing means that in terms of value, the share is much higher, while in terms of packaging it is also very important because the shape, colour and design of the product plays such an integral part in the product.
A total of 1.6 billion packaging units were produced in 2012, which according to the researcher put glass and squeezable plastics tubes at the top, carving out 21 per cent and 12 per cent of the market, respectively.
Digging deeper to the pumps and closures aspect of the packaging, plastic screw closures remain the most common closures for the packaging of anti-ageing products in general.
Airless pumps are synonomous with the rise of premium anti-agers
However, airless pump dispensers are becoming an increasingly popular option, because of the fact that the container takes in no air during the dispensing, thus offering heightened protection against drying out, discolouration and general degradation of the formula.
Specific to the degradation of the formula, premium products are increasingly being formulated with complex ingredient combinations, while also using less preservatives, which makes packaging that helps to protect the formula all the more appealing.
Euromonitor also says that pump closures are likely to see benefits from the rise in popularity of the airless technology, with demand expected to rise at approximately 5 per cent CAGR during the period 2012 to 2016.