Packaging Machinery Market Share, Growth, Global Industry Trends, CAGR Status, Key Manufacturers and Future Competition till 2033: SPER Market Research
Various pieces of equipment utilized in the whole packaging process, from making the packaging to filling, sealing, labelling, and palletizing the finished product, are collectively referred to as packing machinery. It plays a key role in enabling the packing of small sachets to big cartons as well as providing temper resistance and maintaining the safety of the items. To sort, count, and accumulate different goods, different kinds of packing machines are used. Packaging is used to improve the look of fast-moving consumer goods (FMCG) like over-the-counter medications, processed food and beverages, and cosmetics in addition to prolonging the shelf life of the contents and shielding them from outside factors like biological contamination, degradation, physical damage, and counterfeiting.
According to SPER market research, ‘Packaging Machinery Market Size- By Machine Type, By Technology, By Business, By End User, By Operations, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Packaging Machinery Market is predicted to reach USD 77.88 billion by 2033 with a CAGR of 4.84%.
The primary factors propelling the growth of the global packaging machinery market are the escalating health concerns and the application of wrapping techniques to enhance the product’s aesthetic and financial worth. Packaging is required by many logistics and transportation firms in order to package, bundle, and wrap their products. Therefore, it is anticipated that the need for packing machines would increase as the logistics and transportation sector continues to grow.
Apart from that, growing demand for flexible and integrated packaging machinery as a result of the shift in focus towards the creation of dependable packing lines that provide speedy packaging of multiple products without sacrificing quality, protection, etc. Packaging that can preserve product stability is becoming more and more necessary as a result of this improvement.
The expansion of the global packing machinery market is being hindered by multiple issues. Here are a couple of these factors:
- Complicated Regulatory Framework: Market participants face difficulties due to strict rules, which can make the use of packing machines costly.
- Supply Chain Disruptions: The supply chain may be impacted by the lack of raw materials, parts for machines, and tensions in international politics, which would restrict market expansion.
- Competition: Because of the influx of start-ups and the existence of well-known players, the worldwide market is extremely competitive. Price pressure and new product innovations are the results of this rivalry.
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Furthermore, Labor shortage, complex customization and other factors are also hampering tha growth of this industry.
The COVID-19 pandemic spurred market expansion, especially for suppliers of pharmaceutical and food and beverage packaging equipment. This is because there is an increase in demand for various food items and medications both offline and online. To avoid making repeated trips and to stockpile supplies in case of a lengthy quarantine, many purchase in bulk. Packaging businesses therefore put in endless hours to keep up with the rising demand.
Asia-Pacific region is dominating this market and will see a significant growth during the forecast period due to increase in number of active local and foreign competitors in the packaging machinery sector. This regions market growth is being fueled by the presence of multiple emerging economies, including China and India, as well as factors like population growth, rising disposable income, and the expansion of the food and beverage industry in the region are also contributing to the growth of this region.
Packaging Machinery Market Key Players:
The key market players profiled in this Industry are Barry-Wehmiller Companies Inc., B&H Manufacturing Company Inc., and many others.
Packaging Machinery Market Segmentation:
By Machine Type: Based on the Machine Type, Global Packaging Machinery Market is segmented as; Bottling Line, Cartoning Machines, Cleaning & Sterilizing Machines, FFS (Form, Fill and Seal) Machines, Filling Machines, Labelling Machines, Palletizing Machines, Wrapping Machines, Others.
By Technology: Based on the Technology, Global Packaging Machinery Market is segmented as; General Packaging, Modified Atmosphere Packaging, Vacuum Packaging.
By Business: Based on the Business, Global Packaging Machinery is segmented as; Aftermarket, OEM.
By End User: Based on the End User, Global Packaging Machinery is segmented as; Food and Beverages, Industrial and Chemicals, Personal Care, Pharmaceuticals, Others.
By Operation: Based on the Operation, Global Packaging Machinery Market is segmented as; Autonomous, Semi-Autonomous.
By Distribution Channel: Based on the Distribution Channel, Global Packaging Machinery Market is segmented as; E-Commerce, Direct.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Packaging Machinery Market Challenges
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