The global packaging machinery market size is projected to be valued at USD 65.18 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% during the forecast period. Increasing total manufacturing output, especially in the developing industrial economies of the world coupled with growing demand and booming e-commerce industry is predicted to boost the market. Also, several consumer packaged good (CPG) manufacturers are facing growing demands for their highly sophisticated and effective machinery and this has potential to push the market growth rate higher till 2025. In addition to this, market has seen major investments in R&D by major players to support automation, and include Big Data in the process among others, leading to immense boost in the manufacturing effectivity. These additional efforts are keeping the players on toes in order to cater to growing demands.
Recently, COVID-19 pandemic has caused some ruptures in the logistics supply chain, leading to slowing down of production output due to lockdown restrictions. However, as the restrictions are being lifted now, manufacturers are boosting the output to bring the production on track and rejuvenate the demands in the market. Market has been facing demands from several sectors, for instance, Food end-use industry was worth USD 10.18 billion in 2018 and is expected to reach USD 13.90 billion over the forecast period. The food sector includes processed fruits and vegetables, cereals, frozen food, chocolate, bakery products, snacks, and meat among others. Also, the pharmaceutical sector is anticipated to witness the fastest CAGR of 7.0% over the forecast period. Rising need of machinery in several sectors and growing popularity of flexible packaging coupled with trend towards small portions and single serve packages as well as changing consumer preferences is expected to foster the growth over the forecast period.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/packaging-machinery-market
Packaging Machinery Market Report Highlights
• Acquisition & Mergers play an important role in boosting the market expansion of major players. For instance, in February 2019, ProMach, Inc. acquired Code Tech Corporation thus expanding its labeling and coding solutions portfolio
• In January 2020, Syntegon Technology acquired the Bosh Packaging technology. Syntegon Technology’s business focus is on intelligent and sustainable technologies for the pharmaceutical and food industries. Extending the service range is a priority for the company.
• In September 2018, Robert Bosch Packaging Technology agreed to form a partnership with ASPIRx Ltd. located in Ghana, to produce pharmaceuticals. The role of Bosch Packaging Technology in this partnership was to design and provide a multi-purpose system, which will manufacture and package both solid and liquid pharmaceuticals
• The U.S. packaging machine market revenue is projected to register a CAGR of 9.2% over the forecast period. Several factors including customer preferences towards convenience foods coupled with the rapidly expanding e-commerce industry as well as various regulations with respect to serialization and traceability are projected to drive the growth
• Russia, in terms of revenue, was valued at USD 3.25 billion and is projected to reach USD 4.35 billion over the forecast period. Its efforts towards gradually increasing local production especially in the food and pharmaceutical sector is likely to augment the regional demand
• India is expected to reach USD 6.66 billion by 2025. In 2018, the country was among one of the largest markets in the region owing to the growing population, domestic consumption as well as huge investments taking place especially in the food, pharmaceutical, and personal care industries
• Key market players include Robert Bosch GmbH, Salzgitter AG, Krones AG, Coesia S.p.A, Tetra Laval International S.A, and I.M.A. Industria Macchine Automatiche S.p.A. among others.
Request for Sample Pages @ https://www.grandviewresearch.com/industry-analysis/packaging-machinery-market/request/rs1
Packaging Machinery Market Segmentation
Grand View Research has segmented the global packaging machine market on the basis of machine type, end use, and region:
Packaging Machinery Machine Type Outlook (Revenue, USD Billion, 2015 – 2025)
• Bottling Line
Packaging Machinery End Use Outlook (Revenue, USD Billion, 2015 – 2025)
• Personal Care
Packaging Machinery Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• The U.K.
• Asia Pacific
• South Korea
• Central and South America
• Middle East & Africa
• Saudi Arabia
Speak to Analyst @ https://www.grandviewresearch.com/inquiry/6061/ibb
About Grand View Research
Grand View Research is an India & U.S. based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company’s rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States