Packaging Machinery Market Projected to Grow at CAGR of ~6% Through 2023.
Global Packaging Machinery Market – Overview
The global packaging machinery market is a very dynamic market and is expected to witness high growth over the forecast period. The market is driven with the rising demand from various industries such as food, beverages, pharmaceutical, personal care, and others. There has been a high dependency on the packaged ready to eat products. This is backed by the increasing population, automation and increase in investments by packaging companies. In addition to this, the increasing demand for packaging robots from several end-user industries is also expected to drive the growth of market over the forecast period.
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With global increase in disposable income, and changing tastes and preferences, there is seen increasing demand for food & beverages, consumer goods, and electronics. This induces the demand for packaging in the same. Also the growth in e-commerce packaging along with expanding online shopping market in APAC region has given a way to the packaging machinery industry into the region.
Based on end users the market has been segmented as food, beverages, pharmaceutical, personal care, and others. Amongst all the end users, the food and beverage segment is expected to grow at the highest CAGR. Packaging is important for the safety of the food products and it also plays an important role in the products marketing mix. Therefore, food and beverages industry together are expected to contribute the highest to the growth of the packaging machinery market.
Barry-Wehmiller (U.S.), Illinois Tool Works Inc. (U.S.), Krones AG (Germany), Bosch Packaging Technology (U.S.), GEA Group AG (Germany), Automated Packaging Systems (U.S.), Dover Corporation (U.S.), Graphic Packaging Holding (U.S.), Mamata Enterprises (India), MULTIVAC Group (U.S.), Nordson Corporation (U.S.), Pro Mach, Inc. (U.S.), Sato Holdings Corporation (Japan), Tetra Level International (Switzerland), Reynolds Group Holdings (New Zealand) are some of the prominent players at the forefront of competition in the global Packaging Machinery market and are profiled in MRFR Analysis.
Global Packaging Machinery Market – Competitive Analysis
Extensive growth in global packaging machinery industry has brought to light that partnerships & collaborations on large scale for sustainable product development and merging & acquisitions of small scale packaging industries by key players, is a key strategy adopted extensively by the players to spread their geographical presence and improve operational efficiencies.
Calif, a national leader in formed paperboard packaging, launched CanNester A.D. at PACK EXPO Booth. Utilizing Interpress’ NEW SeamSeal technology, CanNester A.D high-barrier containers offer a paper-based packaging option for many food products which have historically been confined to plastic, foil or glass packaging due to shelf-life requirements. SeamSeal technology is a revolutionary process which improves shelf-life by sealing the raw edge of the inner seam, preventing migration of moisture, grease and oxygen.
Bosch Packaging Technology launched new filling and closing machine AFG 5000. The filling and closing machine for pharmaceutical powders in glass vials offers manufacturers a wide range of options. “During development, our main focus was on flexibility,” explains Dieter Bandtel, product manager at Bosch Packaging Technology. “With the AFG 5000, customers can choose between several different versions and various features. In addition, we have significantly increased the output rate in the high-performance segment.
Global Packaging Machinery Market – Segments
Global Packaging Machinery Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type: Comprises – Form Fill Seal, Labelling & Coding, Closing & Sealing, Wrapping & Bundling and others
Segmentation By End-user: Comprises – Food, Beverages, Pharmaceutical, Personal care, and others
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Packaging Machinery Market – Regional Analysis
North America is expected to witness the fast growth of food packaging as the people in the region are more inclined towards convenience products. The demand for packaging Machinery in the region is also expected to be driven, owing to factors such as demographic shifts and increase in global population. In US, demand for packaging machinery will increase as flexible packaging will continue to outpace rigid types of packaging.
Factors such as the introduction of active and intelligent packaging solutions by vendors such as Amcor and the growing demand for flexible packaging will boost packaging machinery market growth in Asia Pacific region during the forecast period. China holds the largest share in Asia Pacific due to growing demand for fresh vegetables and fruits. China meat packaging is expected to show a significant growth during the forecast period, owing to factors such as rise in personal disposable income and rise in consumption of beef, pork and other meat.
Also, favorable economic factors such as changing eating habits, higher purchasing power, urbanization, increasing health consciousness towards protein rich diet India has witnessed an increase in demand for meat and the sector has gained importance in terms of contribution to income, employment and foreign exchange earnings.
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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