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Major packaging machinery market players include Bausch & Ströbel Maschinenfabrik Ilshofen GmbH Co. Kg, IMA S.P.A., Korber AG, Marchesini Group S.P.A., Multivac Group, Robert Bosch GmbH, Romaco Pharmatechnik GmbH, Accutek Packaging Equipment Companies, Inc., ACG Worldwide, Svanguard Pharmaceutical Machinery, Inc., Aetna Group, B&H Labeling Systems, Barry-Wehmiller Companies, Inc., Krones Group, GEA Group, and Illinois Tool Works.
SELBYVILLE, Del. , Jan. 14, 2020 /PRNewswire/ -- According to latest report "Packaging Machinery Market by Product (Fillers [Liquid Type, Powder Filling, Bottle Filling], Form Fill Seal [Vertical, Horizontal], Capping [Screw Capping, Vial Coating, ROPP (Roll On Pilfer Proof) Cappers], Labelling [Wet Glue, Self-Adhesives, Rotary Sticker], Coding [Wet Ink System, Ink Jet System, Laser System, Hot Stamp, Thermal Transfer], Palletizing), Application (Food & Beverage, Pharmaceuticals, Chemical, Personal Care), Regional Outlook, Competitive Market Share & Forecast 2024", by Global Market Insights, Inc., the market valuation of packaging machinery will cross $47 billion by 2024.
The food & beverage industry held more than 55% of the global market share in 2017. The packaging machinery market outlook has observed an expanding demand for the latest machinery from developing sectors. The growth in demand can be attributed to an increase in expenditures on a wide range of ready-to-go and processed food & beverage products.
Various key companies operational in the food & beverage sector are looking to strengthen their footprints in untapped sectors to answer accelerating demand by constructing new plants and buying the latest machinery. Additionally, with shifting consumer preferences, firms functioning in the food & beverage sector are expected to announce a huge range of the latest products, which require advanced packaging machinery.
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The packaging machinery market forecast report estimates that the pharmaceutical application segment will observe immense growth in coming years. The growth is attributable to an increase in demand for flexible, integrated, and automated packaging lines from the market.
Producers have been targeting the requirement for advancing new drug delivery solutions which has contributed to enhancing packaging machinery market trends. Numerous regulatory changes concerning medical product packaging are also likely to fuel industry growth. A few of these rules are labeling, pharmacopeia, and anti-tampering standards. Developing economies, such as India , Brazil , and China , are witnessing a high demand for packaging machinery due to the advancing economic situation of the population and augmenting investments by key pharmaceutical firms.
The packaging machinery market forecast report predicts that Asia-Pacific is anticipated to experience relentless growth and is likely to reach $18 billion by 2024. The growth can be credited to the amplification in the number of pharmaceutical firms. Countries such as China , India , South Korea , and Japan are shifting toward automation and have been rapidly adopting smart industrial solutions in production processes. Strict regulations that instruct pharmaceutical companies to follow particular standards for drug packaging will positively augment the market share.
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Table of Contents (ToC) of the report:
Chapter 3. Packaging Machinery Market Insights
3.2.2. Food & beverage industry landscape
3.3.7.1. List of key manufacturers/suppliers
3.3.7.2. List of key/potential customers
3.4. Technology & innovation landscape
3.4.1. Impact of IoT and digitization
3.6.1.1. North America & Europe
3.6.1.1.1. Adoption of smart packaging solutions
3.6.1.1.2. Growing focus on labeling and serialization for anti-counterfeiting of drugs
3.6.1.2.3. Automation in packaging machinery
3.6.1.2.4. Packaged foods and beverage consumption
3.6.1.2.5. Cosmetics packaging machinery demand
3.6.2.1. Need for high capital investment for setting up plants in developing markets
3.6.2.2. Stringent government regulations for packaging and safety
3.6.2.3. Growing preference for refurbished packaging machinery
3.6.2.4. Fluctuating raw material prices
3.9. Company market share analysis, 2017
3.9.2.2. Mergers, acquisitions, and strategic partnerships
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Global Market Insights, Inc., headquartered in Delaware , U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Arun Hegde Corporate Sales, USA Global Market Insights, Inc. Phone: 1-302-846-7766 Toll-Free : 1-888-689-0688 Email: [email protected]
packaging-equipment-market.png Packaging Equipment Market Statistics by Product, Application, Region 2024 Packaging machinery market forecast report predicts that Asia-Pacific is anticipated to experience relentless growth and is likely to reach $18 billion by 2024.
SOURCE Global Market Insights, Inc.
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