Driven by the rising adoption of automated packaging machinery along with advancement in technologies such as robotics, automation, and others in packaging machinery, the Global Packaging Machinery Market is Forecasted to reach nearly US$ 60 Bn by 2028 says Ken Research Study.
Packaging machinery is a device that is widely used to package products and components. It performs a variety of functions such as filling, container cleaning, bagging, packing, bottling, sealing, wrapping, shrink film, labeling, inspection and weight checking, and many others. It is primarily employed for the final step of the manufacturing and first step of transportation. Packaging machinery is required by various logistic organizations to package their products before shipping.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Increasing Demand for Efficient Packaging Machinery in Various Industries Encourage Market Growth
Packaging Machinery is widely adopted by manufacturers of various industries such as food & beverages, pharmaceuticals, personal care, and others to package goods. The increasing popularity of the e-commerce sector coupled with the rising penetration of the internet and online retailing in the different sectors is likely to boost the demand for packaging as well as packaging machinery. However, the requirement for high initial investment may impede the growth of the market.
The advancement in new technologies for packaging machinery to make it more efficient and environmentally friendly is creating immense opportunities for the growth of the Global Packaging Machinery Market.
According to Ken Research estimates, the Global Packaging Machinery Market – valued at around US$ 35 Bn in 2017 and estimated to reach nearly US$ 45 Bn by 2022 – is expected to grow to around US$ 60 Bn opportunity by 2028.
2. Growing Popularity of the E-Commerce Sector is Driving the Market Growth
The change in consumer purchasing behaviour for goods such as food & beverages, medicines, nutraceuticals, chemicals, and others along with the wide adoption of e-commerce service due to its convenience is expected to boost the demand for packaging, which in turn increases the demand for packaging machinery among manufacturers. In addition, millennials and Gen-Z prefer purchasing products online as it offers convenience, discounts, price comparisons, and other advantages. The increase in demand for consumer goods and increased penetration of the internet in the industry is expected to boost the demand for packaging machinery to package goods efficiently and temper proof.
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The below graph depicts the penetration of online services in retail industry in India.
3. Requirement for High Initial Investment in Packaging Machinery Pose the Most Significant Barrier to the Growth of the Market.
Automated and semi-automated packaging machines are highly expensive and difficult to afford for small and medium-scale manufacturers of any industry, which may hamper the growth of the market. Moreover, packaging machinery requires a lot of space to set up as they are huge and they need constant maintenance, which adds up to the cost of packaging machinery. The manual process for packaging is time-consuming and not feasible for any manufacturers. Thus, the requirement for a high amount of initial investment to purchase packaging machinery is expected to restrict the growth of the Global Packaging Machinery Market.
The below graph depicts the average cost for semi-automatic and automatic packaging machinery cost in US$.
Key Topics Covered in the Report
- Snapshot of the Global Packaging Machinery Market
- Industry Value Chain and Ecosystem Analysis of the Packaging Machinery Market
- Market size and Segmentation of the Global Packaging Machinery Market
- Historic Growth of the Overall Global Packaging Machinery Market and Segments
- Competition Scenario of the Packaging Machinery Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Packaging Machinery Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Packaging Machinery Market
- Future Market Forecast and Growth Rates of the Global Packaging Machinery Market and by Segments
- Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
- Analysis of the Packaging Machinery Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Packaging Machinery Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Companies Mentioned in the Report
- Krones AG
- Robert Bosch Gmbh
- Coesia
- M.A. Industria Macchine Automatiche S.P.A.
- Langley Holdings Plc
- KHS Group
- CKD Corporation
- Barry-Wehmiller Companies
- The Adelphi Group of Companies
- Fuji Machinery Co.,Ltd.
Notable Emerging Companies Mentioned in the Report
- Tetra Laval
- Marchesini Group
- Aetna Group
- BERHALTER AG
- Syntegon Technology GmbH
- PAC Machinery
- Multivac
For more information on the research report, refer to below link: