The latest report by IMARC Group, titled “Packaging Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global packaging machinery market size is experiencing moderate growth. Packaging machinery is widely utilized for packing products and components. They perform numerous functions, which are essential for ensuring the safety of packaged goods. Apart from this, the packaging improves the appearance of products, protects them against biological contamination and extends their shelf life. It also plays a pivotal role in product differentiation. Packaging machines are employed for bagging, packing, unpacking, bottling, sealing, lidding, inspection, wrapping, labeling, encoding and palletizing the products. The packaging process is automated at different levels by using films, seals, wraps, forms and packages.
Global Packaging Machinery Market Trends:
Various factors such as hectic lifestyles, changing dietary preferences and inflating per capita income have led individuals to shift towards convenience and ready-to-eat food products. Consequently, a thriving food and beverage industry, in confluence with the escalating popularity of online food delivery services, has catalyzed the demand for packaging solutions. Moreover, there has been a rise in the demand for convenient packaging solutions for medicines and other related products due to an increase in the prevalence of lifestyle diseases. Furthermore, developments, such as the advent of energy-efficient packaging machinery, are also expected to provide a thrust to the market growth. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 6% during 2019-2024.
- On the basis of the machine type, the market has been segmented into form filling machines, FFS (Form, Fill and Seal) machines, cartoning machines, palletizing machines, labeling machines, wrapping machines, cleaning & sterilizing machines, and others. Amongst these, filling machines represent the most preferred type of packaging machine.
- Based on the technology, the market has been categorized as general packaging, modified atmosphere packaging and vacuum packaging.
- On the basis of the end use, the food industry accounts for the majority of the total market share. Other major segments include beverages, pharmaceutical and personal care, chemicals, and others.
- On the geographical front, Asia Pacific holds the leading position in the market. This can be attributed to the buoyant demand for flexible packaging and various smart packaging elements, including augmented reality and QR codes. Other key regions include North America, Europe, Middle East and Africa and Latin America.
- The competitive landscape of the market has also been analyzed with detailed profiles of the key players operating in the market including Bsarry-Wehmiller Companies, GEA Group, Illinois Tool Works, Krones, Robert Bosch GmbH, Adelphi Packaging Machinery, Aetna Group, B&H Labelling Systems, B&H Labelling Systems, Bosch Packaging Machinery, Bradman Lake Group, CKD Group, Coesia SpA, Fuji Machinery Company and Harland Machine Systems Ltd.
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