The latest IPACK-IMA Business Monitor sheds light on key trends in the beauty and personal care packaging technology sector, revealing insights that will shape the industry’s future growth. Valued at €2.42 billion in 2023, the market is expected to reach €2.95 billion by 2028, driven by an annual growth rate of 4.1 per cent.
The report outlines key growth projections, with North America poised for the highest annual growth rate (CAGR) of 4.7 per cent from 2024 to 2028, contributing an additional €165.4 million to the market. Asia follows with a 4.2 per cent growth rate, adding €190.4 million, while Europe and other regions are also set to experience steady growth.
The monitor also mentions the growing dominance of plastic in packaging materials, which makes up 84.1 per cent of the sector’s total. Flexible plastic is the largest segment, accounting for 45.3 per cent, while rigid plastic comprises 38.7 per cent. Paper and glass packaging are increasingly gaining ground, with glass packaging contributing 4.9 per cent.
Additionally, global consumption of beauty and personal care packaging is projected to grow from 108.4 billion units in 2023 to 121.4 billion units by 2028, with Asia holding the largest share at 40.7 per cent in 2023 and expected to see significant growth.
IPACK-IMA will take place from 27 to 30 May this year, showcasing innovations in packaging technologies for multiple industries. Over 1,200 exhibitors from 27 countries have already confirmed their participation for the event.
