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Global Industrial Packaging Machinery Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 64.4 Bn by 2028, Likely to Grow with the CAGR of 6.3% During the Forecast Period.
The global Industrial Packaging Machinery market has shown significant growth and is anticipated to grow rapidly in coming years. Some of the factors fuelling the growth if global market includes rising adoption of automated packaging products, growing e-commerce industry, and availability of wide range of products depending upon end-user’s requirement.
High Demand from CPG Manufactures and Supportive Government Initiatives Are Fuelling the Demand for Industrial Packaging Machinery
With the wide availability of products, the Industrial Packaging Machinery has gain popularity among CNG manufacturers. These machines help the companies to ensure effectiveness of overall equipment which includes low environmental footprint, low rejection rate, high level of flexibility, integration and maintenance, and ease of operations. This is expected to surge the demand for Industrial Packaging Machinery across the globe.
Moreover, supportive government policies are expected to fuel the growth of global market. Several government organizations including American National Standards Institute and European Committee for Standardization have announced specific standards and certification for safety requirement in packaging industry.
Additionally, use of robotics and automation process throughout the packaging line in order to reduce operational cost and improve productivity has become a major trend in global Industrial Packaging Machinery market.
Based On Machine Type, the Form-Fill-Seal Machine Accounted For Significant Share In Global Market
On the basis of machine type, the form-fill seal machine accounted for maximum share in 2019. The segment is anticipated to lead the global market throughout the forecast period. The growth of the segment is equally proportional to rising popularity of flexible packaging. These machines form the packages, fill it with the product and pack it. The used material in these machines are fed off a roll. These machines are applicable for wide range of packaging materials and have demand in multiple industry verticals including cosmetics, beverages, and food.
Moreover, the wrapping machine type has shown tremendous growth since last few years. Some of the wrapping machines include shrink wrapping and scratch wrapping. These machines are designed to equip with flexible wrapping materials including plastic film, aluminium, and paper.
Food Industry had dominated the Global Industrial Packaging Machinery Market in 2019
Based on end-use industry, the food segment is projected to dominate the global market over the forecast period. The growth of the segment is fuelled by rising popularity of convenience and ready-to eat food items across the globe. Moreover, the high adoption of single serve and smaller portion bag sizes is expected to poise a positive impact on the segment growth.
On the other hand, the beverages industry is forecasted to witness rapid growth in coming years. The inclination towards organic and healthy beverages and availability of multiple varieties are expected to drive the segment growth.
The pharmaceutical sector is projected to witness remarkable growth in coming years. This is due to huge investment in R&D activities for the study of generic drugs coupled with rising aging population across the globe.
Asia Pacific Is Anticipated To Hold Key Share In Global Industrial Packaging Machinery Market During The Forecast Period
By geography, Asia Pacific is anticipated to lead the global market throughout the forecast period. China is the largest contributor for Industrial Packaging Machinery market in Asia Pacific. The rapid growth in China population, rising concern regarding environment friendliness, rising disposable income are some of the factors fuelling the regional growth. Moreover, the supportive government initiatives to promote environment friendliness, energy saving, and domestic consumption is expected to create growth opportunities for Asia Pacific.
Europe is estimated to be the second largest revenue contributor in global market. The Industrial Packaging Machinery has registered high demand from European continents among several industry verticals including pharmaceutical, food & beverages, personal care, and chemical.
Key players operating in global market are I.M.A. Industria Macchine Automatiche S.p.A, Robert Bosch GmbH, Tetra Laval International S.A, Coesia S.p.A, Krones AG, and Salzgitter AG.
Global Industrial Packaging Machinery Market by Machine Type
- Bottling Line
Global Industrial Packaging Machinery Market by End-Use
- Personal Care
Global Industrial Packaging Machinery Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America