05.23.16
According to Technavio research analysts, the future looks bright for the cosmetics packaging industry. The category is one of three which the global technology research and advisory company is forecasting positive growth for over the next four years. The two others that will experience a gain in values are insulated packaging and vacuum packaging.
Technavio research analysts predict the global cosmetic packaging market will grow at a CAGR of around 5% between 2016 and 2020. Due to the high demand for packaging solutions, the cost of raw material is predicted to increase substantially during this period to directly impact packaging cost and profit margins of vendors. In terms of material types, the plastic packaging segment has dominated the cosmetic packaging market with a significant share and this trend will continue over the next four years.
Technavio research analysts predict the global cosmetic packaging market will grow at a CAGR of around 5% between 2016 and 2020. Due to the high demand for packaging solutions, the cost of raw material is predicted to increase substantially during this period to directly impact packaging cost and profit margins of vendors. In terms of material types, the plastic packaging segment has dominated the cosmetic packaging market with a significant share and this trend will continue over the next four years.
