Market Research Report
Global Cosmetic Packaging Machinery Market - Segmented by Machine Type (Fillers, Unscramblers, Sealing Machine, Conveyors, Labeling Machine), and Region - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||646743|
|Published||Content info||109 Pages
Delivery time: 1-2 business days
|Global Cosmetic Packaging Machinery Market - Segmented by Machine Type (Fillers, Unscramblers, Sealing Machine, Conveyors, Labeling Machine), and Region - Growth, Trends, and Forecast (2018 - 2023)|
|Published: April 26, 2018||Content info: 109 Pages||
The global cosmetic packaging machinery market was valued at USD 3.22 billion in 2017 and is expected to reach a value of USD 4.47 billion by 2023 at a CAGR of 5.62% over the forecast period (2018-2023). The traditional cosmetics packaging machines are being replaced by next-generation automated packaging machines. These machines are being designed without control cabinets, and are vertically and horizontally connected. Integration of Big Data analysis, smart maintenance, and model-based engineering are providing scope for improvement. Further, the integration of open interfaces, with functions, is enabling automation of typical tasks. This factor is improving labor productivity, ensuring quality, and reducing packaging & storage costs. The industry holds a significant opportunity, owing to the need to cater to multiple requirements in order to facilitate product changeover. Furthermore, the market is witnessing a shift from traditional palletizers to hybrid palletizers, thereby, boosting the sale of palletizers.
Focus of Manufacturers on Cost Cutting and Business Process Improvement Driving the Market Growth
To remain productive and competitive, manufacturers are adopting creative and energy-efficient ways to conserve resources, improve recycling levels, and develop new generations of materials. The seamless integration of hardware and software is enabling manufacturing industries to reduce wastage, lower accident rates, and produce robust as well as accurate products in an economically profitable way. These systems offer better monitoring and maintenance options, thereby, reducing glitches in the manufacturing process. With technologies, like DCS, PLC, SCADA, and MES, the automation equipment have become more sophisticated and can perform more complex actions at a comparatively low operating cost. Also, coupled with advances in the sensor technology, these technologies have started the era of smart packaging, which results in an improvement in manufacturing processes.
North America is the Key Market for Cosmetic Packaging Machinery
The United States is a hub for cosmetic products and is known for 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. North America accounts for the third-largest market share, due to the high-level of penetration of packaging machinery in the region.
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 the 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
Key Developments in the Market
March 2018 - Leonard Green & Partners has 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 their facilities across the globe.
The major players include - A PACKAGING SYSTEMS, BOSCH PACKAGING TECHNOLOGY, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., MARCHESINI GROUP S.P.A., PACKSYS GLOBAL LTD, PROSYS INNOVATIVE PACKAGING EQUIPMENT, and TURBOFIL PACKAGING MACHINE, amongst others.
Reasons to Purchase this Report
To analyze various perspectives of the market with the help of Porter's five forces analysis
To identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
List not exhaustive