The global packaging machinery market is projected to reach an output of 2,573,400 units by 2027. Hence, manufacturers in the market for packaging machinery are innovating in peel and reveal labels.
In terms of revenue, the global packaging machinery market is projected to expand at a CAGR of 6%, in terms of volume, during the forecast period, due to several factors, about which VRR offers detailed insights and forecast in packaging machinery market report.
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.
Growing demand from several Consumer Packaged Goods (CPG) manufacturers globally for highly sophisticated and efficient machinery at a competitive price is expected to boost the global packaging machine market by 2025. Moreover, rising demand for a wide variety of products as well as for different product sizes is expected to further boost the growth.
Increasing R&D investments by major players to manufacture machinery with overall equipment effectiveness is predicted to fuel the packaging machine market growth over the forecast timeframe. Growing demand for automation and machinery optimization by end-users as well as continued demand for complete packaging lines and modular machines is anticipated to encourage the market development in near future.
High Demand for Packaging Machinery from Food & Beverages Sector to Propel Market
Food & beverages industry is the single largest manufacturing sector in terms of value addition and job creation in most of the economies growing at phenomenal rate. Worldwide sales of processed and packaged food have increased substantially over the last decade. This is majorly attributable to the factor to population growth in developing economies in the Asia-Pacific, Latin America, and the MEA. The packaging machinery market is expected to witness substantial growth on the back of the rising popularity of on-the-go and packaged food products in developed as well as developing economies. Asia Pacific is expected to witness the highest growth in its GDP and middle-class households, driven by strong export orientation and manufacturing capabilities in China and India. Increasing private consumption is also anticipated to boost the demand for food service disposables in the region, which is expected to create a high-demand for packaging machinery in export-led economies. Consumer expenditure on food & beverages was estimated to be 8.5% of the global GDP in 2018. Moreover, consumer expenditure in the MEA and Asia Pacific is estimated to increase from 53% of the global expenditure to more than 60% in 2030, on the account of rise in disposable incomes of the middle class families in these regions.
Machinery Automation to Create Lucrative Opportunities
Integration of different systems into one is the latest trend observed in the packaging machinery market. Companies strive to offer smart maintenance services along with high optimization of packaging processes in their product lines. With the introduction of end-to-end information exchange systems in the product lines, the production efficiency has improved significantly with the reduction in complexities of the production processes. Crosslinking of automation, IT, and IOT in the production lines is anticipated to simplify inventory management for different machine components. Manufacturing companies are increasingly automating their production processes while reducing the number of workers on a production line. It is however necessary to provide seamless visualization and transparent solutions on the production line to continuously innovate and improve process and respond promptly when required. The growing need for easy integration of new machines into existing systems is expected to create immense opportunities for packaging machinery market.
Scope of the Report
Vision Research Reports (VRR) published a new report on the global packaging machinery market, providing forecast for the period of 2020-2027. The report provides valuable insights, which will enable readers to make effective business decisions for growth of their businesses. The report highlights significant factors constantly determining growth of the packaging machinery market, offering untapped opportunities for manufacturers along with trends and developments, and other key insights across various key segments. Macroeconomic factors that are directly or indirectly affecting the growth of the market are also included in the report.
Key Questions Answered Report
Key indicators associated with the packaging machinery market have been calculated thoroughly in the report. The study enumerates vital market dynamics, such as key drivers, challenges, and trends, along with opportunities in the global packaging machinery market. A comprehensive study on the supply chain, which includes service providers and end users, is included in the global packaging machinery market report. Other key aspects laid down in the market include the pricing strategy of leading market players and comparative analysis of the market. Furthermore, forecast factors and forecast scenarios of the packaging machinery market have been covered in the report to understand the prospects of the market.
A comprehensive evaluation and forecast on the packaging machinery market are provided based on product type, packaging technology, end-use, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The packaging machinery market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the packaging machinery market, in tandem with a dashboard view of all leading company profiles included in the report. The report depicts the presence of packaging machinery manufacturers with an intensity map. It also highlights key end users in the packaging machinery market.
Company profiles of key players in the packaging machinery market are incorporated in the report to analyze their recent developments, product offerings, financials, and strategies adopted to sustain their positions in the packaging machinery market. Key companies profiled in the packaging machinery market report include Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA, Tetra Pak International S.A., Coesia S.p.A., Marchesini Group S.p.A., OPTIMA Packaging Group GmbH, Omori Machinery Co. Ltd., ProMach, Inc., Herma GmbH, Videojet Technologies, Inc., Muller Load Containment Solutions, Premier Tech Chronos Ltd., Ishida Co. Ltd., PFM Group, GEA Group Aktiengesellschaft, Sidel S.A., Serac Inc., Nissei ASB Machine Co., Ltd., Krones AG, MULTIVAC, Reynolds Group Holding Limited, Hitachi America, Ltd., Markem-Imaje Corporation, and Fromm Packaging Systems, Inc.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the packaging machinery market for the study evaluation period. The VRR report comprises detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to obtain keen insights into the forecast study of the packaging machinery market. The report has further gone through cross-validation by in-house professionals to make the packaging machinery market report one-of-its-kind, with the highest credibility.
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