The global filling equipment market size is projected to grow USD 23,499.4 million by 2027 from USD 17,963.0 million in 2020, at a CAGR of 3.9% from 2021 to 2027. There is a growing demand for packed food because of the busy lifestyle. Furthermore, the easy availability of packed food is boosting the sales of packed food. Therefore, there is an increase in packaged food market will drive the filling equipment market growth. Furthermore, the fast-moving customer goods (FMCG) industry is witnessing rapid development and forming an essential part of the economy.
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Thus, the rise in the use of FMCG products and pharmaceutical products has led to growth in the production capacity, which ultimately increases the sales of new filling equipment and increases the need for spare parts due to the equipment’s corrosion. For instance, Unilever is opening a new plant in Dubai that will be producing beauty and personal care products. The company has planned to invest USD 250-USD 300 million for a 100,000 square meter plant. Thus, such developments will help in the filling equipment market growth during the forecast period.
The rise in the need for consumable products has led to increase in the production capacity of products by the producers. Filling equipment being consistent, reliable, and accurate are preferred by the manufacturers for the purpose of serving the consumable material or substance into the holding containers like box, tube, bottle, pouch, and others, anticipating the rise in the filling equipment market during the forecast period. However, due to high-quality parts and advanced software, the cost of the machinery is high, which restricts the growth of the filling equipment market globally.
There has been a constant rise in the filling equipment market in the past few years. The equipment has a lot of advantages that drive the market. The significant features of the filling equipment that drive the market are as follows: High production speed compared to the old manual production. The number of boxes, pouches, bags, capsules, tube, and other packaging is filled at a higher rate by the machine as compared to the traditional manual filling of these material holding devices.
The filling equipment is reliable and consistent. This equipment every time fills the same amount of material in the holding device depending upon the weight, volume, level, and other measures. Whereas manual filling equipment can lead to the filling of variable amounts of material in the holding devices. Further, this equipment has very simple controls on the panel and can be easily operated by the operator. Even the operator has minimum interaction with a machine. For instance, a semi-automatic machine needs some attention by the operator, whereas an automatic machine does not require constant supervision. Such factors are promoting the manufacturers of food, beverage, cosmetic, pharmaceutical, and other industries to prefer filling equipment and thus, drive the global filling equipment market.
Atomization of the equipment is done by using high-end system operating software that controls various filling equipment levers, conveyors, and motors. Different parts such as motors, conveyors, and sensors are used to manufacture the filling equipment and can cost more due to its accuracy in filling the containers. Further, the systems used to control the machines can also have higher costs due to the quality of their parts. The high price of the filling equipment can be a problem for small-scale manufacturers, for whom it can be a problem to invest a high amount in machines. Further, the upfront cost of the filling equipment gives the manufacturer less opportunity to invest in other machinery and operate the machines and manufacture the products. Additionally, the drives used to manage the motors or conveyors can consume a lot of energy, which increases the operating cost that can be a considerable investment for small industries. Therefore, the high price of the machine and its operations can restrict the growth of the filling equipment market during the forecast period.
The filling equipment operates on electrical energy. The equipment is made by assembling a number of motors. The motors in the filling equipment are one of the most energy-intensive parts. Therefore, the efficiency of filling equipment can be significantly minimized by installing high-efficiency motors. For instance, Filling Equipment Co. Inc. used Eaton to supply equipment in their manufacturing facility with M-Ma Series variable frequency drives to improve energy efficiency. These motors are used for various types of operations such as to drive the conveyor belt, turn the filling nozzle in on and off position, and other such functions. These motors are of different capacities depending upon the workload on them.
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The study categorizes the filling equipment market based on sales, process, product, end-user, and regions.
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Based on sales type, the filling equipment market is segmented into new machinery and spare parts. The new machinery segment generated the largest revenue of 73.1% in 2020. FMCG, pharmaceutical, and other consumable products market is witnessing a rise and causing a lot of income in the past few years. Many new consumable product manufacturers have expanded their business. The expansion of the company leads to an increase in the quantity of production of their product. Thus, an increase of output pertains to filling the product in the container and packing it. Therefore, the rise in output gives rise to the sale of new filling equipment. For instance, Finsbury Food Group in February 2020 announced its plan to expand the production capacity of gluten-free bakery products in Poland. Thus, an increase in production of the bakery products will lead to a rise in filling and packaging processes, leading the company to buy new filling equipment. Similarly, Dayton brewery August 2019 announced its plan to increase its beer production by early 2020. This expansion led to the requirement of new bottle filling equipment in the distillery. Such developments of consumable products will lead to the growth of the filling equipment market during the forecast period. Further, new machinery of filling equipment are offered to the customer by subsidiaries of the manufacturers or industrial project consultants or directly by the company itself.
Middle East & Africa accounts for the highest CAGR during the forecast period
On the basis of regions, the global filling equipment market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Middle East & Africa, by region, is growing at the highest CAGR of 5.1% during the forecast period, 2021-2027. There has been a rise in the consumption of consumable products in Middle East countries. Food, beverage, personal care, pharmaceutical, and other industries are in massive demand in this region. Thus major players are expanding their base in the Middle Eastern countries to strengthen their customer base. For instance, Salzgitter AG (KHS Group), in January 2020, started their sales and service office in Saudi Arabia to provide quick service for the customers. Such strategic developments by various players will give rise to the filling equipment market in the Middle East during the forecast period.
There is a rise in demand for food, beverage, pharmaceutical, and cosmetics; therefore, companies focus on African countries to expand their customer base. For instance, L’Oréal South Africa has started manufacturing hand sanitizers in Midrand, Gauteng, under its beauty brand Garnier. Thus, giving a boost to the demand of filling equipment market during the forecast period.
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The global filling equipment market is fragmented into a few major players, and other local, small, and mid-sized manufacturers are Accutek Packaging Equipment Companies, Inc., GEA Group Aktiengesellschaft, Coesia S.p.A, JBT, Krones AG, Salzgitter AG (KHS Group), Ronchi Mario S.p.A, Scholle IPN, Syntegon Technology GmbH and Tetra Laval International S.A. These manufactures have generated the maximum market share in 2020. These market players are adopting growth strategies to strengthen their position in the market. Product launches and partnerships are the main growth factors strategies adopted by different key players in the market