Research Nester released a report titled “Packaging Equipment Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global packaging equipment market in terms of market segmentation by product, by application, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global packaging equipment market is segmented on the basis of product, application and technology. On the basis of product the market is categorized in to fillers, form fill seal, lapping, labeling, coding, bottling line and others. On the basis of application, it is sub segmented into food &beverages, pharmaceuticals, chemicals and personal care. On the basis of technology the industry is segmented further into general packaging, modified atmosphere packaging and vacuum packaging.
The packaging equipment market is anticipated to record a CAGR of around 7.2% during the forecast period 2019-2027 owing to the various applications which are anticipated to rise as a result of increase in adoption of automated packaging in food and beverage industry. Additionally, change in consumer purchasing power and buying pattern are anticipated to increase the market growth on the account of increase in consumption of ready to eat meals. The pharmaceutical industry is anticipated to contribute largely towards the market growth on the back of requirement of proper packaging material for medicines and drugs. The paperboard packaging is also anticipated to contribute towards the market growth on account of increased e-commerce business which further leads to increased requirement of packaging material.
The market in North America is anticipated to have leading shares in market on the account of technological innovations in the packaging industry as a result of which manufacturers are anticipated to have better packaging solutions with minimum human interference, thereby providing an economic method with minimum wastage. Additionally, the market in Asia-Pacific is anticipated to have significant market shares owing to huge food and beverage industry coupled with presence of vast pharmaceutical and personal care industry in the region.
Recent technological advancements, for instance, smart sensors, fault detection, remote monitoring, data collectivity, IoT technology and control features are anticipated to improve the market growth. Additionally, automation in the packaging equipment industry has resulted in cost reduction and efficient outputs, which is predicted to result in improved market growth. However, high operational and installation cost is expected to operate as a key restraint to the growth of packaging equipment market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the packaging equipment market which includes company profiling of Barry Whemiller, Coesia, Krones (ETR: KRN), Mamata, Nordson, Pro March Automated Packaging Systems, Dover (NYSE: DOV), GEA Group, Graphic Packaging Holding (NYSE: GPK) and Illinois Tool Works. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the packaging equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.