“Global
Packaging Machinery Market Analysis & Opportunity Outlook 2021”
The global packaging machinery market
is segmented into product type such as food & beverage, pharmaceutical,
personal care & cosmetics and others. Among these segments, food &
beverage segment is expected to occupy top position in overall packaging
machinery market during the forecast period. Growth in food industry is anticipated
to foster the growth of the food & beverage packaging market. Moreover, rapid
urbanization and increasing preference for packaged food and beverages is
anticipated to drive the growth of the food & beverage packaging market.
Global packaging machinery market
is expected to flourish at a significant CAGR of 5.6% during the forecast period.
Moreover, the global packaging machinery market is expected to garner USD 59.3
Billion by the end of 2021. Increasing consumption of consumer goods,
development of advanced packaging such as automated packaging and enhancements such
as energy efficient packaging machinery are believed to trigger the growth of packaging
machinery market.
Asia Pacific dominated the
overall packaging
machinery market in 2016. This can be attributed to the presence
of several cosmetics and food & beverage manufacturer in the region.
Moreover, the Asian food industry is poised to witness huge growth in upcoming
years. Additionally, Asia-Pacific is anticipated to continue its dominance
during the forecast period. Moreover, North America is anticipated to witness
substantial growth during the forecast period. Factors such as increasing
adoption of automated packaging and changing eating habits are predicted to
trigger the growth of the packaging machinery market.
Growing
Business of End Users
Increasing sales of end use
industries such as food & beverage, pharmaceutical and cosmetics industry is
anticipated to provide robust growth to the market of packaging machinery. Moreover,
these industries are likely to witness huge growth in the upcoming years owing
to the changing lifestyle and food habits, rising affluent middle class
population and increasing disposable income which further is anticipated to
boost the demand for packaging machinery.
Innovation
in Packaging Machinery
Increasing expenditure on
technological advancements of packaging machinery and development of advanced
and efficient packaging are expected to drive the growth of global packaging
machinery market in the upcoming years. Moreover, key players are focusing
towards the development of innovative packaging solutions. For instance, in
October, 2017, automated packaging systems launched Autobag 500, an innovative,
cost effective and efficient packaging machine.
Although, high initial capital
investment and increasing concern regarding hygiene of machinery parts are some
of the key factor which is likely to dampen the growth of packaging machinery
market during the forecast period.
The report titled “Global Packaging Machinery Market
Analysis & Opportunity Outlook 2021”
delivers
detailed overview of the global packaging machinery market in terms of market
segmentation by type, by end user 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.
This report also provides the
existing competitive scenario of some of the key players of the global packaging
machinery market which includes company profiling of Barry-Wehmiller Companies,
Bosch Packaging Technology, Coesia S.p.A., GEA Group, Illinois Tool Works Inc.,
Krones AG, Automated Packaging Systems, Inc., Aetnagroup S.p.A., Nichrome
Packaging Solutions, Propack Processing and Packaging Systems Inc. and Serpa
Packaging Solutions. 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 global packaging machinery 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.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/global-packaging-machinery-market-analysis-opportunity-outlook-2021/82
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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