Packaging Machinery Market Synopsis
The packaging pieces of machinery are responsible for the end-user applications and the safety of the products. The packaging machinery market growth is stimulating in recent years owing to the advent of advanced technologies such as automation, robots, and other technical advancements. The automation and the semi-automated packaging pieces of machinery are helping the end-user industries to scale up effectively while controlling the costs of the operations. Therefore the packaging machinery market is expected to grow with a healthy CAGR of 3.6% during the forecast period.
The increasing population and industrialization are fuelling the overall growth of the packaging machinery industry in recent years. Moreover, the industries are focusing on and handling several strategies to increase the production rate. Such factors are presenting opportunities for the packaging machinery market growth.
Cumulative growth analysis:
The packaging machinery market demand is highly influenced by the growth and demand of the pharmaceutical drugs industry. Pharmaceutical industries are intensively reliant on potential packaging. The improper packaging and inefficient packaging might severely affect the value and quality of the drugs. They can potentially change the chemical properties of the drugs as well. The increasing number of chronic illnesses and other health-related emergencies across the globe are influencing the growth of the pharmaceutical industry which in turn impacts the overall growth of the packaging machinery industry in recent times. Therefore the market value of the packaging machinery industry was at USD 40.08 billion in the year 2019 and it is expected to surpass the market value of over USD 52.83 billion by the year 2027 while registering a CAGR of 3.6% during the forecast period. Moreover, the advent of various types of machinery that are specifically designed for the medicines, which includes, strip packing machines, blister packing machines, fill and sealing machines, tablet counting machines, and so on.
Currently, the Asia-pacific region is witnessing healthy growth concerning the packaging machinery industry, which is because of the presence of several food and beverage industries and manufacturing industries across the region. Japan, Taiwan, India, and China are known as manufacturing hubs and they are considered as the major suppliers for foreign regions. Therefore Asia-pacific region is expected to hold its highest market share during the forecast period. Moreover, the increasing investment from the established manufacturers and the investment from the governmental organization upon these manufacturing sectors are presenting lucrative opportunities for the overall growth of the packaging machinery industry.
On the other hand, countries like Saudi Arabia are expected to project higher market growth during the forecasting period, owing to the favorable program like Vision 2030, which fortifies the companies to invest in the infrastructural, industrial, and tourism segments. Similarly, North America is strengthening the packaging machinery market value with the help of automation technologies in the food and beverage, pharmaceutical, and other significant sectors. The growing economic conditions and the inclination towards a higher standard of living are also propelling the packaging machinery market growth in recent times.
- Barry-Wehmiller (U.S.)
- Illinois Tool Works Inc. (U.S.)
- Krones AG (Germany)
- Bosch Packaging Technology (U.S.)
- GEA Group AG (Germany)
- Automated Packaging Systems (U.S.)
- Dover Corporation (U.S.)
- Graphic Packaging Holding (U.S.)
- Mamata Enterprises (India)
- MULTIVAC Group (U.S.)
- Nordson Corporation (U.S.)
- Pro Mach, Inc. (U.S.)
- Sato Holdings Corporation (Japan)
- Tetra Level International (Switzerland)
- Reynolds Group Holdings (New Zealand).
The established market players are adopting the lean packaging operation with the Overall equipment effectiveness technique that integrates the packaging machines with the automated techniques that are highly helpful in the continuous production facilities in the medical and drug industries and other manufacturing industries.
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