2014-11-27 14:24:19

World cosmetic packaging market to reach £19bn by 2018

2014-11-27 14:24:19

According to Markets & Markets new report, its time to pay attention to cosmetic packaging.

In 2012 the global market for cosmetic packaging was worth around £14.3bn, and is now predicted to grow to £19.7bn by 2018.

The new figures were released in a new report by Markets & Markets, a market research company.
Markets & Markets suggest that due to rising disposable income and population growth, the cosmetic industry is growing rapidly, along with the demand for packaging.

The demand for packaging machinery will grow simultaneously, estimated to reach £1.5bn by 2018, primarily driven by the Asia-Pacific region.
The report said the leading companies playing an active role in the market include Amcor (Australia), HCP Packaging (China), and Albea (France).

 
The report stated: “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,”