Rise in Consumer Spending On Manufactured Goods & Launch of Automated Packaging Equipment to Drive the Global Packaging Machinery Market

Rise in consumer spending on manufactured goods, recovery in industrial output, in addition to the roll out of advanced machinery with automation functions to maximize packaging flexibility, speed and control are poised to drive the global market for Packaging Machinery to reach US$47.6 billion by 2024.

Usually a part of automated assembly lines, packaging machinery comprise equipment used for both primary and secondary packaging of products. One of the major factors influencing the trends in global packaging machinery market is rise in manufacture of innovative products in several variants, all of which demand innovative and functional packaging. Over the last few years, the packaging industry has witnessed an increased shift towards value added machines that offer improved efficiency, sustainability, flexibility and superior performance. Demand for packaging machinery is mainly underpinned by increase in consumer spending in addition to rise in industrial manufacturing. Continued growth in manufacturing output as well as a favorable environment for investments in fixed assets comprises major factors propelling growth in the global market for packaging machinery.

On account of rapid technological developments, the production of highly sophisticated machines that enhance flexibility, speed, and control is on the rise. Demand for sustainability, which aids in reducing packaging waste, has emerged as a hot trend in the recent years. End-use markets are increasingly shifting towards more sophisticated, faster, integrated and standardized equipment, to reduce packaging waste and to comply with environmental standards. Automation is increasingly gaining ground in the industry, as customers demand systems that require higher productivity with reduced human intervention. The emerging popularity of e-commerce is further resulting in increased employment of small batch production runs. The rise in SKU proliferation is further driving the need for versatile packaging machinery. The demand for packaging machinery with capabilities such as accommodating numerous bag sizes and styles is also increasing as producers can create multiple lines using single equipment. The rise of the Internet of Things (IoT) amid growing connectivity between packaging machinery manufacturers and customer product lines is driving the growth towards smarter manufacturing and production.  With manufacturing sector moving towards Industry 4.0 , smart sensor technology has been making inroads into packaging machinery  market.

As stated by the new market research report on Packaging Machinery, Asia-Pacific represents the largest and the fastest growing market worldwide. The region is forecast to register a CAGR of 4% over the analysis period led by factors such as steady expansion of manufacturing capacity, improving standards of living, steadily increasing middle class population, urbanization, changing lifestyles, rise in industrial and economic activity, rapid growth of food processing and consumer durables sectors, and burgeoning foreign investment in local production facilities

Major players in the market include Adelphi Packaging Machinery, Barry-Wehmiller Companies Inc., Bosch Packaging Technology, The Bradman Lake Group Ltd., B & H Labeling Systems, CKD Corporation, Coesia SpA, EDL Packaging Engineers Inc., Harland Machine Systems Ltd., Herma UK Ltd., Industria Macchine Automatiche (I.M.A) SpA, Krones AG, Lantech,  Mpac Group plc, Newman Labeling Systems Inc., Norden Machinery AB, Orion Packaging Systems, Salzgitter AG, Scandia Packaging Machinery Co., SIG Combibloc, Strapack Corp., Tetra Laval International S.A, Uhlmann Pac-Systeme GmbH & Co. KG., and Winpak Ltd., among others

The research report titled “Packaging Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and strategic industry activities of market participants. The report provides market estimates and projections for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product segments analyzed in the report include Bottling Line Machinery, Case Forming & Sealing Machinery, Form-Fill-Seal Machinery, Coding/Marking/Labeling Machinery, Filling & Dosing Machinery, Cartoning Machinery, Wrapping/Bundling Machinery, Palletizing Machinery, and Others.

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