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Beverage Carton Packaging Machinery Global Market Size, Share, Emerging Trends, Key Growth, Challenges and Forecast 2024-2033
Beverage Carton Packaging Machinery Global Market
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According to The Business Research Company's, The beverage carton packaging machinery market size has grown strongly in recent years. It will grow from $1.14 billion in 2023 to $1.2 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to innovation in carton sealing, user-friendly interfaces, diversification in beverage offerings, quality control and assurance, shift towards sustainable packaging.
The beverage carton packaging machinery market size is expected to see strong growth in the next few years. It will grow to $1.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to user-friendly interfaces , aseptic packaging demand, robotics in packaging, global market expansion, cost optimization. Major trends in the forecast period include sustainable packaging demands, increased product diversification, advancements in automation, focus on hygiene and safety, rise in customization.
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Market Drivers and Trends:
The growing beverage industry is expected to propel the growth of the beverage carton packaging machinery market going forward. The beverage industry is a global network of providers who manufacture and distribute all types of beverages, including non-alcoholic and alcoholic beverages. Beverage carton packaging technology is used for the secondary packaging of beverages in cartons, assisting in the creation of cartons around the primary packaging of beverages and the safe filling of the cartons. For instance, in September 2022, according to the report published by the Distilled Spirits Council, a US-based national trade association, sales and volume of ready-to-drink spirits-based beverages increased. Revenue from suppliers of pre-mixed cocktail or spirits-based RTDs (ready to drink) climbed by 42.3 % to $1.6 billion in 2021. Therefore, the growing beverage industry is driving the growth of beverage carton packaging materials market.
Technological advancement is a key trend gaining popularity in the beverage carton packaging machinery market. Major companies in the beverage carton packaging machinery market are advancing in their new technologies, research, and developments to gain a competitive edge in the market. For instance, in October 2021, Advanced Tooling Systems (ATS) packaging, a UK-based provider of advanced tooling systems, launched a Gemini linear machine, which is a capping machine for food and beverage applications. The Gemini linear capping machine will have completely programmable high-precision tightening technology that is appropriate for a wide range of closures, including screw caps, push-on caps, dispensing pumps, and spray triggers. The machine is versatile since it can be configured with one to eight capping heads and can produce speeds of up to 80 packs per minute depending on the type of container handling system used.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
KHS GmbH, Econocorp Inc., Jacob White Packaging, Bradman Lake Group, Mpac Group plc., Douglas Machine Inc., Sidel, Krones AG, Tishma Technologies, R.A. Jones Bradman Lake Group Ltd., Mitsubishi Electric Corporation, Langfang Best Crown Packing Machinery Co. Ltd., ACG Group, GPI Equipment, Syntegon Technology, Cariba Srl, Bosch Packaging Technology, Tetra Pak, SIG Combibloc Group AG, Combi Packaging Systems LLC, Pakmatic Company, Pak-Tec Inc., Serac Group, Elopak, Uflex Ltd., IPI srl, BERICAP, Galdi, Nichrome India Ltd., OCME S.r.l.
Beverage Carton Packaging Machinery Market 2024 Key Insights:
• The beverage carton packaging machinery market size is expected to see strong growth in the next few years. It will grow to $1.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Rising Demand For Green Packaging Fuels Growth In Beverage Carton Packaging Machinery
• Technological Advancements Driving Innovation In Beverage Carton Packaging Machinery Market
• North America was the largest region in the beverage carton packaging machinery market share in 2023
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