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Packaging Equipment Market 2020 Trend, Revenue & Regional Analysis 2024 By Top Players - ACG Worldwide, Alfa Laval, BEUMER Group GmbH & Company KG, Graphic Packaging Holding Company, Illinois Tool Works Incorporated, KHS GmbH, Krones AG, Robert Bosch GmbH

03-06-2020 11:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights, Inc.

/ PR Agency: Packaging Equipment Market
Packaging Equipment Market

Packaging Equipment Market

Packaging equipment market is predicted to observe exponential growth from developing packaging solutions for cosmetic & personal care products, and food & beverage and pharma sectors. Packaging equipment industry participants have been shifting their preferences toward sustainable solutions. They have been substituting plastic with biopolymers to enhance their ecological footprint. Furthermore, escalating demand for products with long shelf-life has been fueling demand for advanced packaging equipment. According to the latest research report by Global Market Insights Inc., packaging equipment market is anticipated to surpass $47 billion by 2024.

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Palletizing equipment has been witnessing high adoption in various sectors due to the machines offering automated functions. The product helps in managing weighty loads and stacking bags, cases, cartons, and bottles for packaging and labeling of products. A few of the benefits of these machines among several advantages are automatic and manual handling, trouble-free circulation of commodities, worker injuries, and lower risks of product damage.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ACG Worldwide
2. Alfa Laval
3. Barry-Wehmiller Companies Incorporated
4. BEUMER Group GmbH & Company KG
5. Coesia SpA
6. Coperion GmbH
7. Graphic Packaging Holding Company
8. Illinois Tool Works Incorporated
9. KHS GmbH
10. Krones AG
11. Robert Bosch GmbH
12. Schneider Electric SA
13. Tetra Laval Inter0tio0l

Numerous companies have been adopting automated palletizing machines to improve manufacturing capabilities, provide superior end-products, and effectively handle their processes which in turn will drive packaging equipment market.

The food & beverage industry held more than 55% of overall packaging equipment industry share in 2017. The packaging equipment market outlook has observed an expanding demand for latest machinery from developing sectors. The growth in demand can be attributed to increase in expenditure on a wide range of ready-to-go and processed food & beverage products.

Various key companies operational in food & beverage sector are looking to strengthen their footprints in untapped sectors to answer accelerating demand by constructing new plants and buying latest machinery. Additionally, with shifting consumer preferences, firms functioning in food & beverage sector are expected to announce a huge range of latest products which require advanced packaging machinery.

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Packaging equipment industry forecast report predicts that Asia Pacific is anticipated to experience relentless growth and is likely to reach $18 billion by 2024. The growth can be credited to amplification in number of pharmaceutical firms. Countries such as China, India, South Korea, and Japan are shifting toward automation and have been rapidly adopting smart industrial solutions in production processes. Strict regulations which instruct pharmaceutical companies to follow particular standards for drug packaging will positively augment packaging equipment market share.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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