Cosmetic Packaging Machinery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 29, 2021 by manojshinde

The cosmetic packaging machinery market was valued at USD 3.52 billion in 2020 and is expected to reach USD 4.98 billion by 2026 and grow at a CAGR of 5.62% over the forecast period (2021-2026).
 
The next-generation automated packaging machines are replacing the traditional cosmetics packaging machines. These machines are designed without control cabinets and are vertically and horizontally connected.

- The industries are moving toward significant automation for improving their cost and energy utilization. With automation, human intervention has reduced significantly, which has helped in reducing human errors considerably. For the same reason, the packaging industries are also adopting integrated and next-generation automated machinery. These factors are driving the growth of the packaging machinery market.

- Owing to the improving economic conditions and increasing disposable income globally, the demand for personal care and consumer goods is increasing. The cosmetic companies have expansions globally. For instance, L'Oreal is planning to invest EUR 15 million for the expansion of its plant in France; the plant will be a part of its luxury Excellence Manufacturing Centre.

- The usage of vacuum machinery for cosmetics products is increasing for aseptic packaging, as conventional packaging machines are not capable of it. This factor is driving the growth of the market for cosmetic packaging machinery market.

- On the other hand, the requirement of high initial capital is restricting the companies from replacing their existing packaging line. The stringent government regulations for cosmetics and their equipment are also limiting the growth of the market for cosmetic packaging machines.

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Key Market Trends

Labelling Machines to Witness Significant Growth

- With technological advancements and digital transformation, the importance of labeling has increased tremendously over the years. Cosmetic products are available in different forms of packagings and material. Hence, there is a demand for different kinds of labeling machines to suit various packaging needs.

- The FDA and the EU do not have many restrictions on the ingredients for cosmetic products and the testing of products is left up to the manufacturers. The regulations for listing the ingredients are mandatory. This factor makes the labeling machine essential for each packaging.

- The companies manufacturing cosmetics are expanding their production facilities, owing to the increase in sales of consumer goods for personal care. According to the Centers for Medicare and Medicaid Services, the United States is expected to spend USD 3.2 trillion in 2019 on personal healthcare.

- Owing to this increase, the adoption of packaging machinery for cosmetics is also expected to increase subsequently. In addition to this, according to the Association for Packaging and Processing Technologies, labeling machines witnessed a high demand in the packaging sector. This factor and the increasing demand for cosmetics are expected to drive the growth of the market.

North America is the Key Market for Cosmetic Packaging Machinery

- The United States is a hub for cosmetic products and is known for its innovative and quality products. The consumers in the United States are seeking out products geared toward their specific needs and preferences.

- The country has the footprint of many multinational companies, such as Revlon, MAC Cosmetics, Avon, and L’Oreal. The United States is the biggest market for skin care products, including anti-aging and anti-wrinkle products.

The formation of the Advanced Manufacturing Partnership (AMP) is an initiative, undertaken by the United States to make the industry, universities, and the federal government invests in emerging technologies. This initiative has helped the country gain a competitive edge in the global economy, by investing in packaging equipment, which is used in the final line of production.

Competitive Landscape

The cosmetic packaging machinery market is concentrated with the presence of many big players offering solutions. Companies are engaged in new product innovation and acquisitions to increase there market share.

- Apr 2019 - Zhejiang Zhongke Packaging Machinery launched multiple products to meet the changing market demand and to strengthen its product portfolio in the rigid box manufacturing segment. The ZK 5540 B is an automatic folder gluer for rigid box manufacturing. It is equipped with servo motor, PCL programmable controller, photoelectric tracer, touchscreen HMI, and other systems.

- March 2018 - Leonard Green & Partners completed the acquisition of the US-based packaging machinery company, ProMach from AEA Investors. The terms of the deal have not been disclosed, and it is reported that the management team and employees of the acquired business will continue to operate from the facilities worldwide.

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Issued By Statzy Market Research
Country India
Categories Miscellaneous
Tags cosmetic packaging machinery market , cosmetic packaging machinery market forecast , cosmetic packaging machinery market share , cosmetic packaging machinery market size
Last Updated April 29, 2021