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Packaging Equipment Market 2020 Research Report by Size, Key Players, Growth, Trends and Forecast to – 2024

Author : Ronak Bora | Published Date : 2020-08-25 

North America held more than 25% of the overall packaging equipment market share and is expected to grow at a robust pace in the years ahead. Being one of the technological nerve centers of the globe, packaging equipment manufacturers in North America have been working to incorporate advanced technologies in these devices so as to automate the components with intelligent features. Eventually, this would lead to lesser human intervention and enable a seamless integration of hardware and software, resulting in manufacturers developing highly accurate and efficient products. This in consequence, along with the rising economic growth of the region, are certain to augment the growth graph of North America packaging equipment market.

According to a report about the food packaging trends by the Packaging Machinery Manufacturers Institute (PMMI) – a trade association that is made up of over 800 North American manufacturers and suppliers, food and beverage would account for more than 55% of the projected share by 2019. The association’s report also estimates that the food packaging market in the U.S. alone would be worth over $31 billion by 2022, thereby reiterating the significance of the food industry in North America. It is rather overt that in the years to come, food & beverage companies will continue to expand their product portfolios as they jostle with each other to capitalize upon the growing middle-class populace and its disposable income. The rising competition is certain to act as a catalyst, prompting food & beverage companies to begin constructing new plants, thereby augmenting the regional packaging equipment market trends.

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Packaging Equipment Market is expected to exceed USD 47 billion by 2024. A rise in the adoption of plastic packing solutions for personal care and cosmetic products is driving the packaging equipment market growth. The industry players are shifting toward sustainable solutions by replacing plastic with biopolymers to improve their ecological footprint. Moreover, a rise in the demand for products and goods having a long shelf-life is driving the demand for innovative packaging machinery. Technological advancements are a major trend in the packaging industry with manufacturers collaborating with technology providers to offer their customers advanced packaging solutions.

Labeling machines are experiencing a high growth in the packaging machinery market owing to a rise in the demand for digitalized printing techniques. The growing demand for personalization and customization of the product labels for offering information related to the features and ingredients is growing rapidly. This is encouraging the manufacturers in developing machines that are integrated with technologies to cater to such customer demands. Rotary stickers are widely being used in the beverage industry for labeling PET bottles, which are used for the packing of cold drinks, juices, milkshakes, and energy drinks. The increasing consumption of these beverage items is driving the adoption of rotary stickers for advertising these products, thereby propelling the packaging equipment market.

The pharmaceutical packaging machinery market is witnessing a high growth owing to a rise in the demand for automated, flexible, and integrated packaging lines from the industry. Manufacturers are targeting the need for developing novel drug delivery solutions. Several regulatory changes regarding packaging of medical products are also expected to drive the industry growth. Some of these regulations are anti-tampering, labeling, and pharmacopeia standards. Developed countries including China, India, and Brazil are experiencing a high demand for this equipment owing to the improving economic conditions of the people and increasing investments by major pharmaceutical companies.

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Key players operating in the packaging equipment market are Korber AG, Robert Bosch GmbH, Multivac Group, Barry-Wehmiller Companies, Inc., Coperion GmbH, ACG Worldwide, Graphic Packaging Holding Company, Accutek Packaging Equipment Companies, Inc., GEA Group, Aetna Group, B&H Labeling Systems, Krones Group, and Illinois Tool Works, among others. Players are integrating several technologies in their offerings, which will simplify the industrial processes. The integration of robotics, sensors, and IoT in the machines to provide mobile connectivity, monitoring and control is improving the overall productivity and efficiency.

Table of Contents (ToC) of the report:

Chapter 5.   Packaging Equipment Market, By Application

5.1.  Packaging equipment market trends, by application

5.2.  Food & beverage

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2. Market estimates and forecast, by region, 2013 – 2024

5.3.  Pharmaceuticals

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2. Market estimates and forecast, by region, 2013 – 2024

5.4.  Chemical

5.4.1. Market estimates and forecast, 2013 - 2024

5.4.2. Market estimates and forecast, by region, 2013 – 2024

5.5.  Personal care

5.5.1. Market estimates and forecast, 2013 - 2024

5.5.2. Market estimates and forecast, by region, 2013 – 2024

5.6.  Others

5.6.1. Market estimates and forecast, 2013 - 2024

5.6.2. Market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/packaging-equipment-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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