Packaging Machinery Market is projected to clock a CAGR of 5.8%, during 2018-26
In their latest report titled – “Packaging Machinery Market – Global Industry, Size, Share, Growth, Trends and Forecast, 2018–2026”, Transparency Market Research (TMR) delivers key insights on the consumption of variety of packaging machines used in different end uses and applications. According to TMR, the global packaging machinery market is projected to clock a CAGR of 5.8%, during 2018-26, which is attributed to several factors, on which, the report provided thorough insights and forecast. The Asia Pacific Packaging Machinery is expected to witness highest CAGR value of 7.8%, during forecast period.
A market research study on global packaging machinery market which includes market assessment of different product types i.e. Bottling Line, Cartoning Machines, Case Handling Machines, Closing Machines, Filling and Dosing Machines, Form, Fill, and Seal Machines, Labelling, Decorating, and Coding Machines, Palletizing & De-palletizing Machines, Wrapping & Bundling Machines, and Other Machinery.
TMR suggests that the increasing consumption of packaged food & beverages products is expected to be the key driving force for the growth of packaging machinery globally. Beverage producers are looking to invest in advancement of their existing production processes through sophisticated and automatic packaging machinery. Bottling line machine witness decent growth due to integration of different bottling processes in a single system. Form fill seal machines market is also expected to grow substantially due to end-users companies’ orientation towards process integration.
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Key market participants have been eyeing mergers and acquisitions to enhance capabilities, increase production capacity, and diminish competition in the market. This also aids companies in leveraging the expertise of acquired companies to enhance their product and services portfolio. It is also noticed that global packaging machinery manufacturers are looking to form joint ventures and partnership with Chinese manufacturers to expand their market presence in the medium and low-segment of the market. Increasing automation and optimization of the existing packaging machinery is the key trend observed in the market. Some of the manufacturers are also focusing to integrate different processes into one system and reduce change-over time.
Key players which have been profiled in the global packaging machinery report include –Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA, Tetra Pak International S.A., Coesia S.p.A., Marchesini Group S.p.A., OPTIMA Packaging Group GmbH, Omori Machinery Co. Ltd., ProMach, Inc., Herma GmbH, Videojet Technologies, Inc., Muller Load Containment Solutions, Premier Tech Chronos Ltd., Ishida Co. Ltd., PFM Group, GEA Group Aktiengesellschaft, Sidel S.A., Serac Inc., Nissei ASB Machine Co., Ltd., Krones AG, MULTIVAC, Reynolds Group Holding Limited, Hitachi America, Ltd., Markem-Imaje Corporation, Fromm Packaging Systems, Inc., Hangzhou Youngsun Intelligent Equipment Co. Ltd., Fres-co System USA, Inc., and Fuji Machinery Co. Ltd.