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Industry Insights, Market Size, CAGR, High-Level Analysis: Cosmetics & Personal Care Packaging Equipment MarketThe global cosmetics and personal care packaging equipment market size was estimated at USD 3.86 billion in 2018 and is expected to register a CAGR of 5.4% over the forecast period. The market is backed by the rising consumer preferences for personalized, healthier, convenient, and affordable products which has led to demand for innovative and efficient manufacturing to deal with stock keeping unit (SKU) proliferation. Development of innovative and new packaging technologies in various segments including cosmetics and personal care is expected to propel the market growth. The focus of manufacturers on creating sustainable packaging by using biodegradable materials is anticipated to benefit the demand for cosmetics and personal care packaging equipment over the forecast period. The market for e-commerce has expanded exponentially in recent years especially in U.S. The packaging needs for e-commerce differs from traditional retail outlets as it requires increased protection and imposes several supply chain challenges. The rising need for adaptable solutions to provide packaging solutions that do not correspond to existing sizing standards is expected to boost the product demand over the next seven years. Rising awareness pertaining to the depletion of natural resources followed by regulatory, social, and tax pressures is expected to drive the demand for eco-friendly solutions from leading manufacturers. This has increased the focus on optimizing machinery by incorporating Artificial Intelligence (AI)-enabled or fully automated filling and warehousing technologies along with customizing machinery on the basis of new regulation standards of sustainability. The market is seeing an uptick in demand for rental machinery. Continuously evolving consumer demands and the explosion of SKUs especially in the consumer goods sector wherein there is constant change in the packaging needs has created opportunities for the manufacturers providing rental machineries. Beauty giants are experiencing a decline in sales due to changing consumer tastes and nimble competitors, especially in U.S. The market for cosmetics and personal care packaging equipment is expected to witness slower growth owing to the current economic uncertainties along with the rising demand for inexpensive over-the-counter skincare products in emerging economies, such as India and China. Such factors are projected to restrict the growth of the market over the forecast period.
Product Insights of Cosmetics & Personal Care Packaging Equipment MarketIn terms of product, the cosmetics and personal care packaging equipment market is categorized into filling, labeling, cleaning, form-fill-seal, cartoning, wrapping, and palletizing. The demand for labeling equipment is anticipated to witness a CAGR of 5.4% over the forecast period, owing to the increasing consumption of label-intensive non-durable goods along with a rising need for shippers to accurately track items for security and safety reasons, especially in the personal care industry. The filling machine is one of the most prominent product types in the packaging equipment industry owing to its high-performance ratio, low maintenance costs, and user-friendly characteristics. Aseptic filling machines are gaining traction in the market as they offer uniform product quality, desired performance benefits, and high nutrient retention, which is projected to boost the segment growth over the forecast period. The market for cosmetics and personal care packaging is highly affected by the trend toward greater efficiency and the rising demand for digitization. New technological developments and demand for advanced materials such as printed RFID chips are emerging as an enabler for more transparency and efficiency. In addition, predictive maintenance and process automation are anticipated to increase the demand for smart products and factories creating opportunities for machinery manufacturers in the forthcoming years.
Application Insights of Cosmetics & Personal Care Packaging Equipment MarketIn terms of application, the market for cosmetics and personal care packaging equipment is categorized into skincare, haircare, decorative cosmetics, bath and shower, and perfumes. The rising demand for hair care and styling products to suit myriad customer profiles coupled with the changing consumer shift towards personalized products and new trend of mix-your-own products is anticipated to drive the segment growth in near future. The skincare category has grown exponentially on account of the increased demand for natural products. The demand for serums and anti-aging creams has increased substantially in the younger generation looking for preventative measures for acne, dullness and early signs of aging. Consumer shift toward natural products coupled with the rising demand for sustainable packaging is anticipated to boost the segment growth over the forecast period. Cosmetic brands are focusing on creating a look that appeals to a target demographic that needs to be memorable and easy to understand owing to the increasingly widespread online distribution channels. In addition, cosmetic manufacturers are exploring the usage of smart tools to provide personalized options which has increased the product demand in recent times.
Regional Insights of Cosmetics & Personal Care Packaging Equipment MarketThe demand for cosmetics and personal care packaging machinery is growing exponentially in the developing regions, such as Middle East and Africa and Asia Pacific on account of the burgeoning economies, population growth, greater automation of manufacturing, increase in mean wealth and a rising interest in health and wellness. Factors including high consumer disposable income coupled with altering consumer tastes have posed challenges for manufacturers to position their brands to represent quality and product safety. As a result, manufacturers are adopting advanced solutions that provide superior design and efficient packaging. These factors are expected to ascend the product demand in cosmetics or personal care application in this economy over the forecast period. The demand for packaging machinery in Europe is expected to grow owing to the changing consumption patterns of the consumers, high levels of urbanization coupled with the increasing popularity of luxurious and single-use personal care packaging products. Increasing investments in R&D by the equipment manufacturers to enable the incorporation of new features including shape, size, features is likely to increase the product demand in the forthcoming years.
Cosmetics and Personal Care Packaging Equipment Market Share InsightsMajor market players include Wimco; Bosch Packaging Technology, Inc.; Marchesini Group S.p.A.; Wimco Ltd; Prosys Innovative Packaging Equipment; and AMET Packaging, Inc. (acquired APACKS). Products with multifunctional quality, pricing, and their compliance with the regulations are expected to be the driving factors for the market growth over the forecast period. The cosmetics and personal care packaging equipment manufacturers are focusing on investing in R&D and innovation to secure a portfolio of competitive options. In addition, the companies are reallocating resources and assets and pursuing mergers and acquisitions to strengthen their global presence. Furthermore, the companies are investing in technologies that provide a more flexible and agile process along with faster new product development and time to market. Technology and innovation are transforming the packaging machinery industry as cosmetics and personal care manufacturers are reducing their machinery suppliers and internal engineering capacities and are increasingly looking for integrated machines and advancements in supply chain for a flexible and transparent process.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Cosmetics & Personal Care Packaging Equipment Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global cosmetics and personal care packaging equipment market on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Skin Care
- Hair Care
- Decorative Cosmetics
- Bath and Shower
- Other Applications
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1.6. Data Validation & | read more...