Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The global packaging machinery market is estimated to attain a significant CAGR throughout the forecast period, i.e., 2021-2029 on the back of rising need for product packaging in the supply-chain process of various end-user industries. Machines are preferred over manual packaging as it is time saving, cost effective, and more hygienic. Moreover, machine packed products are more uniform in terms of quantity, size, and form. In addition to that, the wastage of packaging materials is minimum in machine packaging, which reduces the material cost along with reducing the labor expenses. Such features of packaging machinery are expected to boost the market growth throughout the forecast period. Furthermore, growing consumption of consumer goods and advancement in packaging technology is forecasted to further promote the market growth. Growing demand for sustainable packaging methods, to reduce single-use plastic waste is also anticipated to promote the market growth. In 2018, the United States, alone generated more than 14,500 thousand tons of plastic as municipal solid waste. Out of this, only a small amount of around 1800 thousand tons of this waste was recycled. On the other hand, in the same year, more than 40,000 thousand tons of paper and cardboard packaging waste was generated, out of which, 33,500 thousand tons waste was recycled.
The global packaging machinery market is segmented on the basis of type into automatic, semi-automatic, and manual, out of which, the automatic segment is anticipated to hold a major market share during the forecast period on the back of rising inclination towards application n of computer operated machines. Automatic machines offer the benefit of uniform packaging of product, along with employing less labor force, which is likely to reduce the production cost for the major market players, which, in turn, is estimated to boost the segment growth. On the basis of end-user, the market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, and others, among which, the food & beverages segment is foreseen to garner the highest market share over the forecast period owing to the vast application for packaging machinery in the food and beverages industry. This include various forms of products, such as, powdered (spices, salt, powdered milk, and others), liquid (juice, milk, soda, soft drinks, and others), semi-solid (yoghurt, salad dressings, jam, mayonnaise, and others) and solid products (fruits and vegetables, grains, ready-to-eat food, poultry and meat, nuts, and others), which requires efficient packaging techniques, which are hard to acquire manually. This, in turn, raises the demand for packaging machinery. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of regional analysis, the global packaging machinery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in the Asia Pacific is estimated to note the highest CAGR during the forecast period on the back of rising demand for packaging machineries by the major food & beverages manufacturers present in the region, for packaging their products. Moreover, increasing government investment in the manufacturing industries in developing countries, such as, China and India, along with the availability of a large consumer base, is anticipated to drive the market growth.
The market in the North America is projected to hold a significant share throughout the forecast period owing to the presence of leading market players in the region backed by the growing manufacturing sector. Moreover, the market in countries, such as, USA, and Canada are export-oriented, which magnifies the need for proper packaging of the products in order to minimize the damage that may occur during transportation. According to the World Bank, the goods and services export in the U.S. valued USD 3.068 trillion, in the year 2019. Moreover, due to lack of cheap labor in the region, consumer goods manufacturers prefer packaging machinery to reduce total production cost, which is estimated to boost the market growth.
On the basis of region, the global packaging machinery market is segmented are as follows:
Our in-depth analysis of the global packaging machinery market includes the following segments:
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FREQUENTLY ASKED QUESTIONS
Growing demand for fast, accurate and cost-effective packaging solutions among various end-user industries is one of the major factors driving the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
High maintenance costs packaging machinery is a major factor estimated to hamper the market growth.
The market in the Asia Pacific will provide the highest growth opportunities for the market during the forecast period owing to the presence of major food & beverages manufacturers in the region.
The major players in the market are Barry-Wehmiller Companies, Automated Packaging Systems, Inc., Krones AG, Serpa Packaging Solutions, Syntegon Technology GmbH and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, product type, organization size, end-user, and by region.
The automatic segment is anticipated to hold the largest market size during the forecast period on the back of its high efficiency, as it is computer operated.
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