Case Packers Market Anticipated to Garner $7.30 Bn by 2023 at 6.1% CAGR, Says AMR
According to the report published by Allied Market Research, the global case packers market was valued at $5.12 billion in 2017 and is expected to reach $7.30 billion by 2023, registering the CAGR of 6.1% during the period 2017-2023. The report provides comprehensive analyses of the top winning strategies, industry dynamics, market size & estimations, key market segments, and competitive landscape.
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Factors such as changing lifestyle & inclination toward convenience food, increasing population, and rise in labor cost have boosted the growth of the global case packers market. However, high cost of case packers and non-compatibility with flexible packaging products act as impediments for the market growth. On the other hand, increasing awareness of cost-effective packaging machines and rapid growth of online retail & logistics industry are likely to create lucrative opportunities for the market growth.
The overwrapping segment contributed about two-fifths of the market share in 2017, owing to its advantages such as fast speed compared to horizontal case packer and increasing demand from industries such as beer & soft drinks, pharmaceutical, nutraceutical, personal care, and medical device. Nonetheless, the robotic segment is likely to manifest the fastest CAGR of 7.3% through 2025.
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The consumer goods segment is expected to witness the fastest CAGR of 7.4% during the forecast period. Nonetheless, the food & beverage segment dominated the market in terms of the revenue in 2017, occupying about two-fifths of the market share.
The automatic case packer segment held the largest share in 2017, owing to adoption of automation in packaging industry. The segment is also likely to register the fastest CAGR of 6.8% during the study period.
Asia-Pacific region is expected to manifest the fastest CAGR of 6.9% during the forecast period because of the increased consumption rate, rise in urbanization, and increase in consumption pharmaceuticals and cosmetics in the region. Other regions analyzed in the study include North America, Europe, and LAMEA.
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A detailed analysis of the major players in the case packers market is offered in the report. The players listed include ADCO Manufacturing, Illinois Tool Works Inc., Marchesini Group S.p.A., Molins PLC, Robert Bosch GmbH, U-PACK ENGINEERING (SHANGHAI) CO., LTD, Hangzhou Youngsun Intelligent Equipment Co., Ltd., KN Packaging Solutions Pvt. Ltd., Massman Automation Designs, LLC, and Pro Mach, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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