Packaging Machinery Market Size to Surpass USD 52.83 billion by 2027 | Substantial Demand for Packaged Products to Aid Expansion, states Fortune Business Insights™
According to Fortune Business Insights, the global Packaging Machinery Market size is projected to grow from USD 40.08 billion in 2019 to USD 52.83 billion in 2027 at CAGR of 3.6% during forecast period.
Pune, India , Oct. 26, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Packaging Machinery Market size is projected to reach USD 52.83 billion by 2027, at a CAGR of 3.6% over the estimated period. The global packaging machinery market is experiencing robust and sustained growth as it responds to the evolving needs of various industries. Key factors driving this growth include technological advancements, increasing demand for automation and efficiency, changing consumer preferences, and the growing importance of sustainable packaging practices. Fortune Business Insights, in a report, titled “Packaging Machinery Market Size, Share & Industry Analysis, By Machine Type, By End User and Regional Forecast, 2020-2027.”
*Industry Development:*
*February 2019: *BLAŽEK announced the launch of a fully automated ‘AMS 10-05 manipulator’, an addition to packaging equipment product range. The high performing equipment is equipped with a FESTO drive and control system that ensures fast operation. * *
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*Report Scope & Segmentation:*
*Report Coverage* *Details*
Forecast Period 2020 to 2027
Forecast Period 2023 to 2027 CAGR 3.6%
2027 Value Projection 52.83 billion
Base Year 2019
Packaging Machinery Market Size in 2019 40.08 billion
Historical Data for 2016-2018
No. of Pages 120
Segments covered By Machine Type, By End-User, By Region
*Drivers and Restraints:*
*Heavy Demand from Transportation Industry to Amplify Growth*
The rising demand for packaging in logistics and transportation can be a vital factor propelling the growth of the market. Various logistics and transportation companies require packaging machinery to wrap and bundle their goods and commodities before shipping. The surging logistics and transportation industry is expected to have a tremendous influence on the global market during the forecast period. Packaging enables the safety of products and consignment during transportation. Additionally, the flourishing E-commerce industry is expected to spur opportunities for the market in the foreseeable future.
*Rising Shift towards E-Commerce to Uplift Packaging Industry Amid COVID-19*
The disruption in the supply chain of various sectors has also impacted the packaging industry. Manufacturers are limiting the workforce at manufacturing facilities due to the regulations imposed by the governments. However, the implementation of advanced techniques by OEMs to increase production capacity will augur well for the market. Similarly, the rising consumer inclination towards E-commerce due to the outbreak will significantly accelerate the revenue of the industry.
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*Report Coverage:*
· It assimilates key market drivers and restraints.
· It profiles the rankings of key market players accordingly.
· It includes key market developments and information on different market segments.
· It provides a comprehensive market assessment.
· It assesses the COVID-19 pandemic’s impact on the market.
*Packaging Machinery Market** Segmentation Analysis:*
Based on machine type, the market is classified into bottling line, cartoning, case handling, closing, filling & dosing, form, fill & deal, labelling, decorating & coding, palletizing, wrapping & bundling, and others which includes inspection machines, etc.
The end-user segment is divided into food, beverages, pharmaceuticals, personal care and toiletries, household, industrial and agricultural chemicals, and others. Wherein, the food sub-segment is estimated to hold the largest market share owing to the increasing investments by government and private companies in building new warehouses to store the food products.
*COVID-19 Impact: *
The COVID-19 pandemic had a significant impact on the packaging machinery market, influencing market dynamics in various ways. As the world faced unprecedented challenges, the packaging machinery industry adapted to new demands and opportunities.
The pandemic exposed the importance of resilient supply chains and efficient manufacturing processes. Packaging machinery, which plays a crucial role in packaging products for various industries
*Increased Demand for Essential Products*
The pandemic demand for necessities like food, drink, medications, and personal hygiene products. As a result, packaging machinery used for these products experienced increased orders and production. Manufacturers had to adapt to meet the sudden uptick in demand.
*Safety and Hygiene*
The importance of safety and hygiene in packaging became more pronounced during the pandemic. This led to an increased demand for packaging machinery that could ensure safe and contactless packaging. Machines capable of packaging single-use or individually wrapped items gained prominence.
*Regional Insights:*
*Enormous Investments in Manufacturing Sector to Favor Market in Asia Pacific *
The market in Asia Pacific stood at USD 13.34 billion and is expected to account for the highest share in the market owing to, the heavy investments in the manufacturing sector. The rising government support in countries such as India and China are expected to enable speedy expansion of the market. North America and Europe are expected to witness a steady growth rate during the forecast period due to the low adoption of packaging machinery in the regions.
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*Competitive Landscape:*
The competitive landscape of the packaging machinery market is influenced by factors such as technological advancements, evolving customer demands, sustainability concerns, and regulatory requirements. Companies that can adapt to changing market conditions and offer solutions that cater to these factors tend to maintain a strong position in the market.
Since the market is subject to ongoing developments, it's essential to conduct up-to-date market research to get the most current information on the competitive landscape in the packaging machinery industry.
*A List of Key Manufacturers Operating in the Global **Packaging Machinery **Market:*
· Krones AG (Bavaria, Germany)
· Robert Bosch Packaging Technology GmbH (Baden-Württemberg, Germany)
· Coesia S.P.A. (Bologna, Italy)
· I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Bologna, Italy)
· Salzgitter AG (Salzgitter, Germany)
· BW Packaging Systems (Illinois, U.S.)
· Viking Masek Global Packaging (Wisconsin, U.S.)
· Nichrome Packaging Solutions (Maharashtra, India)
· Asian Packing Machinery Pvt. Ltd. (Haryana, India)
· Aagard Group, LLC (Minnesota, U.S.)
· MG America (New Jersey, U.S.)
· Mollers North America (Michigan, U.S.)
· Kalamazoo Packaging Systems (Michigan, U.S.)
· Frain Industries, Inc. (Illinois, U.S.)
· Sun Packaging Technologies, Inc. (Florida, U.S.)
· VELTEKO s.r.o. (Central Bohemian, Czech Republic)
· BLAŽEK (Central Bohemian, Czech Republic)
· The Adelphi Group of Companies (West Sussex, U.K.)
· Fuji Machinery Co., Ltd. (Aichi Prefecture, Japan)
· SAMPACK India Pvt. Ltd. (Tamilnadu, India)
· UnionPack International Co., Ltd. (Zhejiang, China)
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*Table of Content:*
· *Introduction*
· *Definition, By Segment*
· *Research Methodology/Approach*
· *Data Sources *
· *Executive Summary*
· *Market Dynamics*
· *Macro and Micro Economic Indicators*
· *Drivers, Restraints, Opportunities and Trends*
· *Impact of COVID-19 on Packaging Machinery Market*
· Short-term Impact
· Long-term Impact
· *Competition Landscape*
· *Business Strategies Adopted by Key Players*
· *Consolidated SWOT Analysis of Key Players*
· *Global Market Share Analysis and Matrix, 2019*
· *Key Packaging Machinery Market Insights and Analysis, By Segments*
*Continued….*
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