Cosmetic Packaging Market Overview
The cosmetic packaging market has long held a strategic place in the economy, fostering innovation, employment, and growth. Rising demand for tailor-made packaging materials, increasing manufacturing activities, and rising sustainable packaging alternatives are among the key trends spurring the global cosmetic packaging market growth. However, the ongoing cost pressure, complex supplier portfolios, shortening value chains, and changing asset structure are increasing challenges for companies operating in the cosmetic packaging market. As such, companies in the cosmetic packaging market are pressurized to innovate manufacturing processes and integrate digital solutions to boost supply chain operations and enhance operational efficiency.
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Business Challenges Faced
Our client, a cosmetic packaging company in Italy, faced significant losses due to overproduction and drop in product demand. Also, the ongoing cost pressure caused by intensifying global competition made it difficult for the company to compete with low-cost cosmetic packaging manufacturers. They wanted to focus on pursuing digital technologies and investing into new machinery and infrastructure to achieve operational excellence and minimize their losses. Also, they wanted to achieve performance improvements in production, supply chain, and asset management. However, this demanded focusing on cost reduction and risk management approaches. The client, therefore, chose to partner with Infiniti Research to leverage their expertise in offering market research.
By partnering with Infiniti Research, the client also wanted to keep up with technological changes, choose packaging materials that withstand harsh environmental conditions, understand price fluctuations in the market, and improve packaging sustainability.
Keeping up with market development and engaging with the right business partners is crucial for cosmetic packaging companies to create a competitive advantage in the long run. Our market analysis can help you achieve all these strategic objectives. Contact us.
Our Integrated Approach
To cater to the specific needs of the cosmetic packaging market client, the experts at Infiniti Research adopted a combination of market research study, technology assessment, customer intelligence, and market intelligence engagement. Custom market research study involved a thorough analysis of the Italian cosmetics packaging market to generate actionable insights into profitable business opportunities, ongoing cost-pressure in the market, competitors’ strategies, and changing supplier structures to help the client identify process-related bottlenecks. Our engagement also covered an assessment of market risks and analysis of the performance of the client over the past few years. Besides, the engagement involved identifying emerging technologies and exploring new digitalized business models. Also, the experts provided insights into the challenges involved in the production, supply chain, and asset management and strategies to combat these bottlenecks.
Solutions Offered
By partnering with Infiniti Research, the client was able to develop and integrate digital technologies to boost operational efficiency and streamline supply chain operations. As recommended by the experts at Infiniti Research, the client invested into new machinery and infrastructure to create innovative packaging designs. Also, the experts analyzed the cosmetic packaging materials leveraged by the client’s key competitors and provided suggestions on the best packaging material that could withstand harsh environment and warehouse conditions. Besides, by keeping up with the fluctuating prices of the raw materials, the client was able to devise contingency plans and stock enough raw materials for long-term production requirements.
The cosmetic packaging industry client was also able to pursue digitalization projects to achieve operational excellence. Also, by implementing risk management approaches, they were able to assess and track risk dimensions constantly. Besides, by focusing on cost-effective technologies, they were able to achieve cost reduction in production processes.
Within one year of leveraging our market intelligence solution, the client was able to achieve performance improvements in production, supply chain, and asset management. In addition, they were able to enhance operational efficiency and increase profit margins by 34%.
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