Packaging Equipment Market By Product, Application, Region-Forecasts and Key Players: Körber AG, Marchesini Group S.P.A., Multivac Group, Robert Bosch GmbH, ACG Worldwide, Aetna, Krones AG, GEA Group

According to a new research report by Global Market Insights, Inc., 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.

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The demand for the packaging equipment market is majorly driven by the development of energy-efficient equipment, increasing the adoption of automated packaging machines and driving the demand for personal care goods. Growing demand for packaging robots from several end-use industries is also a key factor fueling the packaging machinery market demand. These machines play a key role in ensuring product safety throughout the value chain. Equipment manufacturers are emphasizing on offering solutions that have a minimal environmental impact.

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.

The food & beverage industry accounted for over 55% of the market share in 2017. The packaging equipment market has witnessed a growing demand for new machinery from developing markets, due to the increase in spending on a wide range of processed and ready-to-go food & beverage products. To satisfy this growing demand, several major companies operating in the food & beverage industry are looking to expand in untapped markets by building new plants and purchasing new machinery. In addition, with changing consumer preferences, food & beverage companies are anticipated to introduce a wide range of new products that require innovative or newer packaging machinery.

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The Europe packaging machinery market is witnessing a high growth owing to the rise in the demand for integrated solutions, changing consumer trends, and ecological requirements. FFS and palletizing machinery are experiencing a high adoption rate in several industrial sectors. Integrated technologies and multi-functional solutions offered by these machines are helping the factories in simplifying their processes. The application of this equipment in the food & beverage sector owing to the growing demand for packaged food is driving the growth of the Europe packaging equipment market. A strong customer base and the extensive adoption of technology are attracting several companies to invest in the region, thereby driving the packaging machinery market growth.

The packaging equipment market in Asia Pacific is expected to witness a steady growth and will reach USD 18 billion by 2024, owing to the rise in the number of pharmaceutical companies. Countries including India, China, Japan, and South Korea are moving toward automation and adoption of smart industrial solutions in the manufacturing processes. Stringent regulations that mandate pharmaceutical companies to follow certain standards for the packaging of drugs are positively driving the packaging machinery market. Several industrial players in the region are deploying liquid and solid packaging machinery to fulfill the product requirements.

Major players operating in packaging equipment market are Bausch & Ströbel Maschinenfabrik Ilshofen GmbH Co. Kg, IMA S.P.A., Körber AG, Marchesini Group S.P.A., Multivac Group, Robert Bosch GmbH, Romaco Pharmatechnik GmbH, Accutek Packaging Equipment Companies, Inc., ACG Worldwide, Svanguard Pharmaceutical Machinery, Inc., Aetna Group, B&H Labeling Systems, Barry-Wehmiller Companies, Inc., Krones Group, GEA Group, and Illinois Tool Works, among others.

Browse key industry insights spread across 275 pages with 466 market data tables & 37 figures & charts from the report, Packaging Equipment Market in detail along with the table of contents:

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