Packaging plays an indisputable role in any industry, as nearly every product requires packaging for shipment. The packaging market will have tremendous growth with e-commerce websites taking over the world. Nearly all products are shipped to everyone’s doorstep in the current times, and good packaging is more than a necessity. Bad quality of packaging results in consumer loss which is a fundamental improvement aspect of any company. Players are now leveraging innovative technologies to make an impression upon consumers and thereby providing traction to the packaging machinery market.
Packaging machinery is a kind of machine that eliminates manual work and relies on complete automation to perform packaging tasks. The packaging machinery market enjoys a multitude of the end-user industry because of increasing demand in every sector. The machines involved in the packaging process are filling and packing, cartooning machines, tempering machines, labeling and printing machines, palletizing machines, wrapping machines, and cleaning and sterilizing machines.
According to analysts at IndustryARC, the global packaging machinery market is set to grow at a normal CAGR of 4%-5% during the forecast period of 2019 to 2025. As of 2018, the estimated packaging machinery market size was between $39 billion to $40 billion.
Global Packaging Machinery Market: Recent Trends, Developments, and Key Players
IndustryARC predicts the Asia Pacific region to lead in the packaging machinery market owing to the population and the number of industries present in its entirety. The Asia Pacific generated nearly 32%-35% of the global packaging machinery market demand in 2018. Some of the top most companies in the packaging machinery market are Fuji Machinery Company, Bosch Packaging Machinery, CoesiaSpA, Krones AG, CKD Group, Barry-Wehmiller Companies, Inc., Bradman Lake Group, Adelphi Packaging Machinery, B&H Labelling Systems, Harland Machine Systems Ltd.
- Asia Pacific market has seen a radical proliferation in e-commerce portals in the past few years. Online flee stores in China have also resulted in abundant orders. This has made packaging the need of the hour. Changing lifestyles in countries, gender inclusion in workplaces and technological advancement of office environments are all leading to increased demand in every sector.
- Leading manufacturers are also focusing on how well a product is being packaged. Traditionally, the process is labor intensive and requires several steps like fabrication, cleaning, filling, sealing, combining, labeling, overwrapping, and palletizing. In order to increase the shelf life of the products, and save them from contamination, good quality packaging done with efficiency and precision is mandatory. This elevates the growth potential of the packaging machinery market.
- Companies are also focusing on more eco-friendly products that are sustainable for the environment, and are also cost-effective at the same time.
The packaging machinery market will experience steady growth in the near future as the demand for packaging will never cease to exist, although eco-friendly packaging is emerging as a new trend. With nearly the entire world having access to the Internet, and e-commerce websites, literally everything can be delivered to our doorsteps. Factors like this will help the market grow and earn revenue.
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