2014-07-18 22:56:19

World cosmetic packaging market to reach £19bn by 2018

2014-07-18 22:56:19

 

These are the figures in a new report released by market research company Markets & Markets, which found the cosmetic industry is exhibiting buoyant growth driven by population growth and rising disposable income.

North America dominated the global market with a 29% share in 2012, while Europe commanded the cosmetic packaging machinery market.

The cosmetic packaging machinery market value is projected to reach $2.5bn (£1.5bn) by 2018, driven primarily by the Asia-Pacific region and the development of emerging markets such as China and India.

The Asia-Pacific region is estimated to grow with the fastest CAGR, due to the developing economy and increasing beauty-conscious consumers.

The report said the leading companies playing an active role in the market include Amcor (Australia), HCP Packaging (China), and Albea (France).

“The industry players prefer strategies such as new product launches and agreements with the regional players to garner a larger share in the market. The cosmetic packaging machinery players are adopting market development strategies such as expansion,” the report stated.

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