According to a new report published by Allied Market Research, titled, "Packaging Machinery Market by Type, and End-User: Global Opportunity Analysis and Industry Forecast, 2020–2027," the global packaging machinery market size was valued at $47.9 billion in 2019, and is projected to reach $70.5 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027. The development of packaging technology has witnessed significant growth over the last decade. Packaging has become one of the essential processes before offering the final product to consumers. The primary applications of packaging machinery are in a wide range of industries across food and drink, healthcare, cosmetics, and other consumer goods as well as a range of industrial sectors where packaging has become essential, with its usage increasing broadly in line with the global economy.
Packaging machines play a vital role in ensuring product safety throughout the supply chain. The increasing demand for packaging robots from several end-user industries such as food & beverages, pharmaceuticals, and chemicals. Such factor drive the packaging machinery market.
Moreover, the demand for packaging machinery is driven by the increasing consumer goods demand, increasing adoption of automated packaging machines, and development of energy efficient machines. Modern automated packaging machines are used in different stages of packaging and ensure that the stages are completed in minutes rather than hours compared to the older versions.
Filling machines are the most dominant machine type of the overall packaging machinery market in 2019. Filling machines are highly used in the food & beverage industry either to fill a bottle or a pouch depending on the product. Filling machines increase precision in filling containers according to net weight and size.
Filling machines used in end-user industries vary upon the specific needs of the industry as there is no single type of filling machine available to fill different types of liquid, solid, or powder. Cleaning & sterilizing machine is expected to be the fastest growing machine type segment, growing at a CAGR of 7.3% by 2027. Cleaning machines are used to clean contaminants from bottles prior to the introduction of the product. These machines have wide applications in the food, beverages and pharmaceutical industries.
Based on end-user industries, the food & beverage segment dominated the packaging machinery market in 2019 owing to the growth in food & beverage industry over the forecast period. This growth is attributed to the increase in demand from emerging countries due to the rise in consumer income and improvement in living standards. The fastest growing end user for the packaging machinery market is the cosmetics industry segment, which is expected to grow at a CAGR of 6.5% by 2027. Packaging machinery manufacturers offer a wide range of automated solutions for the cosmetics industry, which offers best packaging solutions for a wide range of products. These packaging free solutions offer eco-friendly and contaminant free packaging. Filling machines used in the cosmetics industry offer a wide range of high quality packaging formats for different products like pouches, strips, tubes, and sachets.
Asia-Pacific was the most dominant geographical market for the packaging machinery market in 2019. The dominance of the Asia-Pacific region is due to the presence of a large number of food & beverage and personal care product manufacturers in the region. High economic growth rate and high demand in emerging markets of China and India are the major drivers for the packaging machinery market in Asia-Pacific. North America and Europe are among the more mature markets for packaging machinery. Major end user industries such as food & beverage and personal care have reached their peak levels, which restrain the market growth in these regions. key players in the packaging machinery market include Aetna Group S.p.A., B&H Manufacturing Company, Inc., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings, PLC, Robert Bosch GmbH, and The Adelphi Group of Companies.
The key players profiled in the packaging machinery market report include Aetna Group S.p.A., B&H Manufacturing Company, Inc., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings, PLC, Robert Bosch GmbH, and The Adelphi Group of Companies.
Key Findings of the Study:
- The report provides an extensive analysis of the current and emerging packaging machinery market trends and dynamics.
- Depending on end-user, the food and beverages segment dominated the packaging machinery market, in terms of revenue in 2019 and cosmetics is projected to grow at a CAGR 6.5% during the forecast period.
- By type, the filling machines segment led the packaging machinery market in 2019.
- LAMEA is projected to register the highest growth rate in the coming years.
- The key players within the packaging machinery market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the packaging machinery industry.
- The report provides an extensive analysis of the packaging machinery market trends and emerging opportunities of the market.
- In-depth packaging machinery market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
- The global packaging machinery market forecast analysis from 2020 to 2027 is included in the report.