Packaging Equipment Market Segmentation, Industry Analysis and Forecast To 2024 | Alfa Laval, BEUMER Group, Coperion, Fuji Electric Corp. of America, GEA Group
According to a report about the food packaging trends by the Packaging Machinery Manufacturers Institute (PMMI) - a trade association that is made up of over 800 North American manufacturers and suppliers, food and beverage would account for more than 55% of the projected share by 2019. The association's report also estimates that the food packaging market in the U.S. alone would be worth over $31 billion by 2022, thereby reiterating the significance of the food industry in North America. It is rather overt that in the years to come, food & beverage companies will continue to expand their product portfolios as they jostle with each other to capitalize upon the growing middle-class populace and its disposable income. The rising competition is certain to act as a catalyst, prompting food & beverage companies to begin constructing new plants, thereby augmenting the regional packaging equipment market trends.
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As per estimates, in 2017, North America held more than 25% of the overall packaging equipment market share and is expected to grow at a robust pace in the years ahead. Being one of the technological nerve centers of the globe, packaging equipment manufacturers in North America have been working to incorporate advanced technologies in these devices so as to automate the components with intelligent features. Eventually, this would lead to lesser human intervention and enable a seamless integration of hardware and software, resulting in manufacturers developing highly accurate and efficient products. This in consequence, along with the rising economic growth of the region, are certain to augment the growth graph of North America packaging equipment market.
Apart from the F&B applications, global packaging equipment market will be receiving a sizable boost from the pharmaceutical sector as well. The inherent need for pharmaceutical companies to thoroughly and properly package their manufactured medical products to maintain the correct chemical composition will drive the packaging equipment market growth from pharmaceutical applications. The industry has also gradually been influenced by customer feedbacks that often request certain aesthetic features to be added to the medicine's packaging to help distinguish them from other drugs.
The growth of the pharmaceutical industry across APAC would prove to be one of the most viable driving forces for the regional packaging equipment market. The economies such as India, South Korea, China, and Japan have been increasingly shifting toward the adoption of smart solutions in manufacturing. Furthermore, the continent is driven by a strict regulatory landscape mandating pharma companies to adhere to certain rules, further augmenting the regional packaging equipment market.
Company profiled in Packaging Equipment Market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o ACG Worldwide
o Adelphi Packaging Machinery
o Alfa Laval
o B&H Labelling Systems
o Barry-Wehmiller Companies Incorporated
o BEUMER Group GmbH & Company KG
o Buhler AG
o Coesia SpA
o Coperion GmbH
o Fuji Machinery Company Limited
o GEA Group AG
o Graphic Packaging Holding Company
o Guangzhou Tech-Long Packing Machine Company
o Hangzhou Youngsun Intelligent Equipment Company Limited
o Illinois Tool Works Incorporated
o Industria Macchine Automatiche SpA
o Ishida Company Limited
o KHS GmbH
o K?rber AG
o Krones AG
o KUKA AG
o Multivac Sepp Haggenm?ller GmbH & Company KG
o Robert Bosch GmbH
o Sato Corporation
o Schneider Electric SA
o Selovac Ind?stria e Com?rcio Limitada
o Serac Group
o Tetra Laval International SA
o The Bradman Lake Group
o VELTEKO s.r.o.
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A huge proportion of medicinal products available in the packaging equipment market are in liquid form and are filled in vials or bottles, necessitating the use of fillers to warrant a cost-effective, safe and accurate packing of the liquids. Common illnesses such as cold, cough, gastrointestinal problems and others are usually treated using liquid medicine packed in multi-dose containers like vials and plastic bottles. The packaging equipment market, which apportioned 20% of its revenues in 2017 from fillers, delivers reliable filling machines to the pharmaceutical industry, designed for handling chemicals and allowing the use of industry specific packaging materials. The recently unveiled Dara HSL-PP/4 from ProMach is an example of advanced, high-speed aseptic filling equipment which has the capacity to fill nearly 200 vials per minute, from 0.1 to 200 milliliters of liquid. The machine enables accurate filling and quality control, besides ensuring safety of the materials being handled.
All in all, the packaging machinery industry will experience augmented demand from the rapidly expanding food & beverage segment as well as from the pharmaceutical applications that arise from rising prevalence of various diseases. Bosch Packaging Machinery, B&H Labelling, Aetna Group, Fuji Machinery Company, CKD Group, Krones Group and Harland Machine Systems are some prominent industry players in the packaging machinery market.
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