Packaging machinery includes equipment that is present in every stage of packaging process. Labeling machines, cartoning machines, filling machines, and cleansing & sterilizing machines, among others are some types of packaging machines that perform different packaging functions at different stages of processing. Cleansing & sterilizing machines are likely to exhibit the fastest growth by 2023 owing to the need for a high degree of protection for sensitive goods, specifically in the pharmaceutical and food & beverage industries. In addition, packaging needs to be done in such a way that it will provide speedy clean packaging, protection, identification, product quality, display, and needs of security. The market demand for sterilizing machines is also attributed to innovations and emergence of new technologies in the pharmaceutical industry, coupled with growth in population.
Packaging Machinery Market Report, published by Allied Market Research, projects that the global market size was valued at $39,647 million in 2016 and is projected to reach $62,063 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023. The filling machines segment accounted for the maximum share in 2016 and is likely to remain dominant during the forecast period.
The global packaging machinery market is segmented based on geography into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific packaging machinery market is largely driven by the emerging countries such as China, India, Vietnam, Indonesia, and others. Packaging consumption in several countries in the Asia-Pacific region has remained positive and reliably strong and there a wide potential for growth with increase in consumer disposable income, urbanization, and rising consumption of cosmetics and other fast moving consumer goods. The increasing e-commerce sector in the region is also one of the prime reasons for growth in the Asia-Pacific region. Thus, the Asia-Pacific region is anticipated to witness the fastest growth during the forecast period.
consumers in the beauty sector not only look for sustainable ingredients but also demand for attractive and convenient packaging. In addition, with rising disposable income, consumers in the beauty sector are increasingly adopting branded and high quality cosmetics, thereby fueling the cosmetics packaging machinery market growth.
Key findings of the Packaging Machinery Market:
- The food & beverage sector was the highest revenue generating market in 2016, and is projected to grow at a CAGR of 6.6% during the forecast period.
- Cleaning & sterilizing machine is expected to grow at a significant CAGR of 8.4% owing to growing focus on cleanliness and hygiene in the food & beverages, cosmetics, and pharmaceutical industries.
- China is the major shareholder in the Asia-Pacific packaging machinery market, accounting for more than half share in 2016.
The key players focus on expanding their business operations in the emerging countries by adopting various strategies, such as acquisitions and contracts/agreements. The major players profiled in this report include Adelphi Packaging Machinery, Aetna Group, B&H Labelling Systems, Barry-Wehmiller Companies, Inc., Bosch Packaging Machinery, Bradman Lake Group, CKD Group, Coesia SpA, Fuji Machinery Company, and Harland Machine Systems Ltd.