The global packaging machinery market size is expected to grow at a CAGR of around 6% during 2019-2024. Packaging machinery refers to a device that is used for packing different products and components. It plays a significant role in facilitating the packaging of small sachets to big cartons as well as providing temper resistance and ensuring the safety of the products. Different types of packaging machines are utilized for sorting, counting and accumulating various items. Due to technological progress, packaging machines have become more advanced and include numerous process operations such as fabrication, filling, sealing, cleaning, combining, labeling, palletizing and overwrapping.
Apart from extending the shelf-life of the contents and protecting them against external elements like biological contamination, degradation, physical damage, and counterfeiting, packaging is also utilized for enhancing the appearance of fast moving consumer goods (FMCG) such as over-the-counter pharmaceuticals, processed food and beverages, and cosmetics. Moreover, consumers nowadays prefer flexible, lightweight, easy-to-carry packages. This is further supported by changing lifestyles and hectic schedules which have led to an increase in the need for convenient packaging solutions, thereby driving the demand for modern packaging machinery across the globe. Besides this, the leading packaging machinery firms are engaging in merger and acquisitions (M&A) activities to expand and increase the efficiency of their existing production facilities.
IMARC Group’s latest report provides a deep insight into the global packaging machinery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global packaging machinery market in any manner
The report has also analysed the competitive landscape of the market with some of the key players being Barry-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, Harland Machine Systems Ltd., etc.
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