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Cosmetics And Personal Care Packaging Equipment Market Size, Share And Drivers Report 2024 To 2033
Cosmetics And Personal Care Packaging Equipment Market Share
According to The Business Research Company's, The cosmetics and personal care packaging equipment market size has grown rapidly in recent years. It will grow from $4.73 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to rising consumer demand for personal care products, innovation in packaging designs and formats, brand differentiation and aesthetics, globalization of cosmetic brands, changing consumer lifestyles and preferences..
The cosmetics and personal care packaging equipment market size is expected to see strong growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to sustainable packaging practices, customization and personalization trends, e-commerce growth and packaging considerations, focus on packaging efficiency and speed, clean beauty movement and ingredient transparency.. Major trends in the forecast period include automation and industry 4.0, innovations in design and materials, e-commerce impact, stringent regulatory requirements, global market expansion..
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Market Drivers and Trends:
Rising growth of the e-commerce industry across the globe is expected to propel the growth of the cosmetics and personnel care packing equipment market going forward. Electronic commerce, or e-commerce, is the exchange of products and services, the transferring of money or data through an electronic network, typically the Internet. The rise of e-commerce may have an impact on the packaging materials used for both single products and groups of products, and e-commerce shipping may change the product packaging from boxes to cases, so the rising growth of the e-commerce industry across the globe will propel the growth of the market. For instance, in October 2021, according to the International Trade Administration, a US-based, trade data and analysis agency in the United States Department of Commerce, global retail e-commerce sales reached $5,424 billion in 2022, from $4,831 billion in 2021, however, the e-commerce revenue is forecasted to grow with 8% by 2025. Therefore, the rising growth of the e-commerce industry across the globe is driving the growth of the cosmetics and personnel care packing equipment market.
Creating vegan packaging by using biodegradable materials, is a key trend gaining popularity in the cosmetics and personnel care packing equipment market. Companies operating in the cosmetics and personnel care packing equipment market are adopting new technologies to sustain their position in the market. For instance, in November 2022, CJ Biomaterials, Inc., a US-based bioengineering company, introduced Wakeme Water Velvet Vegan Cushion, a new biodegradable cosmetic case. It is uniquely made PHA (polyhydroxyalkanoate) and PLA (polylactic acid) which improves the impact resistance and the creation of elegant shapes. It is eco-friendly packaging made using vegan cosmetic ingredients to improve the mechanical properties of PLA.
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Major Key Players of the Market:
Wimco Ltd.; Bosch Packaging Technology Inc.; Ronchi Mario S p A; AMET Packaging Inc.; ProSys Fill LLC; Reagent Chemical; Industria Macchine Automatiche SpA; TurboFil Packaging Machines LLC; VPack Technologies; Zhejiang Rigao Machinery Corp.; Liquid Packaging Solutions Inc.; Turpack Packaging Machinery Ltd.; VK Engineering & Company; Accutek Packaging Equipment Company Inc.; OPTIMA packaging group GmbH; E-PAK Machinery Inc.; Sonoco Products Company; Marchesini Group S.p.A.; PackSys Global AG; Albea SA; Amcor plc; Silgan Holdings Inc.; Gerresheimer AG; AptarGroup Inc.; RPC Group plc; Cosmopak Ltd.; Quadpack Industries SA; Rieke Packaging Systems Ltd.; Raepak Ltd.; DS Smith plc; Graham Packaging Company; Libo Cosmetics Company Ltd.
Cosmetics And Personal Care Packaging Equipment Market 2024 Key Insights:
• The cosmetics and personal care packaging equipment market will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
• E-Commerce Boom Fuels Expansion In Cosmetics And Personal Care Packaging Equipment Market
• Vegan Packaging Surges With Biodegradable Materials In Cosmetics And Personal Care Packaging Equipment Market
• Europe was the largest region in the cosmetics and personnel care packing equipment market in 2023
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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