DUBLIN--(BUSINESS WIRE)--The "Global Packaging Machinery Market By End Use, By Machine Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global packaging machinery market size is expected to reach $58.3 billion by 2027, rising at a market growth of 5.9% CAGR during the forecast period.
Machinery that helps in performing numerous functions related to the packaging of any product or a group of products is known as packaging machinery. This machinery performs functions like canning; filling, container cleaning, and forming; bagging, sealing, unpacking, packing, bottling, and lidding; inspection and check weighing; shrink film, wrapping, and heat sealing; labeling, case forming, and encoding; palletizing and depalletizing; and others.
The growth of the packaging machinery market is attributed to the increasing demand for packaging in logistics and transportation. There are numerous logistics and transportation enterprises that need packaging machinery to package and bundle their goods & commodities before the shipment of these products. The packaging machinery market is expected to witness bright growth prospects with the growing logistics & transportation sector. Packaging helps in ensuring the hygiene and safety of products and consignments at the time of transportation. In addition, the market growth is further driven by the booming e-commerce sector.
The increasing implementation of networking architectures, servos, and robotic applications is among the key aspects fueling the growth of packaging machinery market. This trend is expected to create lucrative opportunities for OEMs to better respond to the requirement for increased automation by replacing conventional pneumatic machinery with advanced electromechanical systems. Similarly, the growing adoption of robotics and similar technology is instrumental in order to bring complete automation in the packaging process and industry. The adoption of highly advanced technologies across the value chain, consisting of product packaging, production, logistics, warehousing, and supply chain within the packaging industry, is increasing.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has disrupted the supply chain of numerous sectors across the globe. The imposition of lockdown and a temporary ban on manufacturing units, along with the restrictions of imports & exports have significantly impacted the packaging machinery market in the initial phase of the pandemic. However, the increasing production of various medical gears like masks, PPE kits, and others, has positively impacted the demand of advanced packaging machinery.
Moreover, several manufacturers had to restrict their workforce at their manufacturing units owing to the regulations and rules imposed by the governments. Though, the deployment of advanced techniques by OEMs to boost production capacity is expected to support the growth of the packaging machinery market over the forecast period.
Market Growth Factors:
Growing demand for various packaged and convenient food products
With the changing lifestyle of consumers, the demand for convenient and packaged food products has significantly increased in the last few years. The busy schedule of consumers is motivating them to adopt ready-to-go food products, which is expected to augment the growth of the packaging machinery market over the forecast period. In addition, the increasing population of working people is expected to create more demand for packaged food and thus, contributing to the market growth.
Increasing concerns regarding the safety and hygiene of the products
With the increasing cases of various diseases along with the COVID-19 pandemic, people are becoming more concerned about the safety and sanitization of their products. In addition, manufacturers are increasingly using automated packaging machinery for ensuring the safety of their products. Packaging machinery helps in minimizing human touch, which reduces the chances of transmission of any disease, especially in the case of the COVID-19 pandemic.
Market Restraining Factor:
High cost and the technical failures of the packaging machinery is expected to hinder the growth of the market
The overall cost of packaging machinery is quite high as it included the cost of manufacturing and the cost of implementation, due to this, several small and medium-sized manufacturing units is expected to restrict themselves from adopting the automated and advanced packaging machinery. In addition, technical failures of such machinery is expected to incur more expenses to the manufacturers, which is expected to hamper the demand for packaging machinery.
Market Segments Covered in the Report:
By End Use
- Food
- Beverages
- Pharmaceuticals
- Chemicals
- Personal Care
- Others
By Machine Type
- Filling
- Cartoning
- Wrapping
- Palletizing
- Labeling
- Form-Fill-Seal
- Bottling Line
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- KHS Group (Salzgitter Klockner-Werke GmbH)
- Tetra Laval International S.A.
- Barry-Wehmiller Companies, Inc.
- CKD Corporation
- Coesia S.p.A.
- Duravant LLC
- Fuji Machinery Co., Ltd.
- Langley Holdings plc
- Syntegon Technology GmbH
- The Adelphi Group of Companies
For more information about this report visit https://www.researchandmarkets.com/r/6wli1q
