Jamie Matusow, Editor-in-Chief08.31.20
Covid-19 has dramatically altered the world—and the Beauty industry—in many ways, and will likely continue to do so for some time. Over the past six months, with country lockdowns, retail closures and stalled manufacturing, the economy has shifted, leaving both cosmetic brands and packaging providers—among scores of others—reviewing their supply chains and strategies.
Some experts say that fully serving a global marketplace requires brands to engage regional suppliers in key markets to hedge their bets and aim to prevent supply chain disruptions. Other brands favor suppliers that operate on a Made in USA/Canada-only credo as a way to control production and satisfy a growing list of customers.
According to analysts at Technavio, the global cosmetic packaging market, which stood at $25.23 billion in 2015, is likely to reach $32.31 billion by 2020, growing at a CAGR of 5.07%. But the partial halt of manufacturing in the first two quarters—and perhaps, the near future—has not yet been fully calculated.
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