Global Market Size, Forecast, and Trend Highlights Over 2023-2033
The China Plastic Spouts Market size is expected to surpass USD 145.0 Million by the end of 2033, witnessing around 6.61% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of china plastic spouts was USD 71.9 Million. The growth of the market in this region can be attributed to the growing working class women who are demanding more cosmetics products in China. According to a poll, almost 42% of Chinese women stated they spend an average of USD 73 to about USD 300 year on makeup, according to China Youth Daily. Also, there has been growing young population which is also estimated to increase the demand for cosmetics in China. Compared to older women (about 82%), a higher percentage of young women (approximately 87%) make up regularly. The women in China stated that often wear "little makeup" on ordinary days but "full makeup" while going to formal occasions such as banquets or business client meetings. Hence owing to the increasing demand for cosmetics in China, the market is expected to grow further.
Additionally, there has been growing demand for ready-to-eat products in China. Further, since COVID-19 the demand for read-to-eat meal went much higher since more people were staying at home. Also, the prices for raw material went up during COVID-19, hence consumers appeared to believe it was wise to store up food. Hence the demand for ready-to-eat food went up. Moreover, young people especially who are working prefer ready-to-eat food, since they find it more convenient than cooking at home. However, the geriatric population in China who are leaving alone is also estimated to demand for more ready-to-eat food. In China, the percentage of senior persons living alone has risen from about 17% in 1993 to approximately 26% in 2007 and may reach about 89% by 2030. Hence growing geriatric population in China who are living alone is also estimated to boost the growth of the market.
