"Overview of Packaging Machinery Market"
Global Packaging Machinery Market was valued at US$ 43.5 Bn in 2018 and is expected to expand at a CAGR of 5% during forecast period.
Packaging machinery market is driven by various factors such as increased production output, emerging industrial economies such as India, China. Morever, high demand for various innovative packaging formats in different countries along with flourishing e-commerce industry is expected to boost the growth of packaging machinery during forecast period.
In addition to this, high demand for wide range of product in turn has boosted the demand for flexible packaging machinery from diverse end use industries across the globe. In addition to this, high demand for small portions and single serve bags sizes is expected to contribute to the growth of packaging machinery from regions.
Moreover, other factors driving the market growth are high demand for effectiveness of the equipment that includes high maintenance and integration, high level of flexibility and low environmental impact.
In addition to this, automation and robotics has been widely accepted in last few years that also boosts the growth of packaging machinery market. They are also helpful in reducing costs and preventing waste that also boosts the growth of the market.
By Application, Beverages Accounted For a Maximum Share of Packaging Machinery Market during the Forecast Period
Beverages had accounted for a signficant share of xx% of packaging machinery and is expected to continue during the forecast period
Beverage market is expected to expand at a CAGR of 5% during the forecast period. High consumption of beverages, increase in variety of beverages and global trends towards consumption of healthy and organic beverages are some of the factors contributing to the overall growth of market. Also,high growth of beverage market is witnessed in various regions across the globe that boosts the adoption of packaging machinery across the globe.
Cutting-Edge Filling & Dosing Machines Are Gaining Traction
Filling and Dosing Machines had accounted for a signficant share of xx% in 2018 and is expected to remain dominant during the forecast period.
Advanced packaging machinery is being adopted by manufacturers as these save cost on time and manpower. Various companies in the packaging machinery market are launching and introducing new products and technologies for filling. Packaging machinery includes various machines such as automatic sealing, filling and dosing and these machines are highly adopted to sterile the environment. High investments in R&D and healthcare are expected to boost the packaging machinery market during forecast period.
Growth Prospects of Packaging Machinery Are High In Europe
Europe had accounted for a significant share of xx% in 2018 and is expected to remain dominant during forecast period. Various manufacturers of packaging machinery are located in countries such as Germany, Italy and US. These companies are focusing on export of these packaging machinery offerings to developing countries such as India, China to meet demand generated. Moreover, key manufacturers in Europe are focusing on strategies such as merger and acqusitions. High adoption of these strategies and presence of key players in Europe are expected to boost the growth of the market
However, emerging economies such as India and China are contributing to the growth of the market in Asia Paciifc. For example, Made in China 2025 is a development plan of China that aims to increase China domestic content of core materials to 40%. Flourishing manufacturing industry in these geographies is anticipated to boost the demand for packaging machinery during the forecast period.
Packaging machinery market is highly consolidated with various key players focusing on mergers and acquisitons. Key manufacturers in the market are ProMach, Inc., Videojet Technologies, Inc., OPTIMA Packaging Group GmbH, Coesia S.p.A., PFM Group, Omori Machinery Co. Ltd, Premier Tech Chronos Ltd., Marchesini Group S.p.A., Sidel S.A., Tetra Pak International S.A., Muller Load Containment Solutions, Omori Machinery Co. Ltd. and others
Packaging Machinery Market Segmentation
Packaging Machinery Market By Equipment Type
- Bottling Line
- Cartoning Machines
- Case Handling
- Filling and Dosing
- Form, Fill, and Seal
- Labelling, Deco., and Coding
- Palletizing & De-palletizing
- Wrapping & Bundling
Packaging Machinery Market By End User
- Personal Care
Packaging Machinery Market By Region
- North America
- Latin America
- Asia Pacific