(MENAFN- Straits Research) The machinery used to package goods or parts is called packaging machinery. Packaging machinery is used for a wide range of tasks, such as canning, cleaning, filling, and forming containers, bagging, packing, unpacking, bottling, sealing, and lidding, inspecting and checking to weigh, wrapping, shrinking film, and heat sealing, case forming, labeling, and encoding, palletizing and depalletizing, and other similar tasks.
Market Dynamics
Development of Innovative and energy Efficient Packaging Machinery Drives the Global Market
Manufacturers of packaging machinery are developing highly specialized machinery. This machine fills and packages large quantities of food, cosmetics, and chemicals. The machines' flexibility, high output, product protection, and process assurance are attracting end-user industries. Machines on the packing line process and assemble components. The majority of machinery requires little maintenance and has a long service life. These machines have proven to be both dependable and efficient.
Furthermore, clever machinery manufacturers provide power savings. As energy prices rise, many manufacturers outfit their packaging machines with energy-monitoring capabilities. Energy metering devices in the control system provide real-time energy consumption statistics to packaging facilities. With centralized operational and process data collection, online performance improvement is possible. Over the forecast period, such factors will drive market growth.
Growth in the E-commerce and Retail industry Creates TremendOpportunities
The upsurge in demand for fast delivery and high consumer expectations have provided an impefor e-retailers to make innovations in operation for timely order fulfillment and to remain competitive in the market. This provides a huge opportunity for the packaging machinery to witness rapid adoption in the e-commerce industry. For instance, packaging automation solutions offered by Kiva Systems pick items from the shelf and hand over the products to human workers. As a result, the work efficiency increases by two to three times compared to conventional methods. Therefore, e-commerce and retailing companies are now investing in integrating robotics to deal with high-volume and high-value orders. Such factors provide opportunities for market growth over the forecast period.
Regional Analysis
Asia-Pacific is the most significant global packaging machinery market shareholder and is anticipated to grow at a CAGR of 5.6% during the forecasted period. In the Asia-Pacific market, food production is the biggest market for packaging machines. Most of the growth in the global market for packing machines comes from developing countries in the Asia-Pacific region, like China, India, Vietnam, Indonesia, and others. Several countries in the Asia-Pacific region continue to use a lot of packaging. This is a good sign, and there is a lot of room for growth as consumers' spending incomes rise, cities grow, and more makeup and other fast-moving consumer goods are bought. One of the most important reasons for growth in the Asia-Pacific region is the rise of e-commerce.
In North America, the market for packaging equipment is growing because there are more packaging uses in the food and beverage, medicine, and cosmetics industries. In North America, people who bought packaged goods mostly cared about how easy they were to use and how well the packing fit their lifestyles and gave them good value. The rate at which packing machines are used in North America has increased because of industrial robotics and technological improvements in factories. In addition, customers have moved a lot toward packaging that is good for the environment, which has led to the use and production of materials that are good for the environment. The packing equipment market in North America is also growing because there is more demand for packaged food, consumers are becoming more aware, and there are more laws and rules about food hygiene.
Key Highlights The global packaging machinery market was valued at USD 48.23 billion in 2022. It is estimated to reach USD 83.33 billion by 2031, growing at a CAGR of 6.14% during the forecast period (2023–2031). Based on types, the global packaging machinery market is bifurcated into filling machines, Form, Fill, and Seal (FFS) Machines, cartooning machines, palletizing machines, labeling machines, wrapping machines, and cleaning and sterilizing machines. The filling machines segment dominates the global market and is expected to grow at a CAGR of 6.01% over the forecast period. Based on end-user, the global packaging machinery market is classified into food and beverage, pharmaceuticals, chemical, cosmetics, and others. The food and beverage segment owns the global market and is anticipated to grow a CAGR of 5.12% over the forecast period. Asia-Pacific is the most significant global packaging machinery market shareholder and is anticipated to grow at a CAGR of 5.6% during the forecasted period.
Competitive Players
The major players in the global packaging machinery market are Aetna Group S.p.A., B&H Manufacturing Company, Inc., Barry-Wehmiller Companies, Inc., CKD Corporation, Coesia S.p.A., Duravant LLC, Fuji Machinery Co., Ltd., Langley Holdings, PLC, Robert Bosch GmbH, and The Adelphi Group of Companies.
Market News In April 2022, JBT Corporation, a major maker of packing machines, is buying Multivac Group. With this purchase, JBT will be able to offer more products and better serve its users around the world. In May 2022, Tetra Pak, a big company that makes packing machines, stated that its factory in China would get bigger. Thanks to the growth, the company will be able to meet the rising demand for its goods in the Asia-Pacific market.
Global Packaging Machinery Market: Segmentation
By Type Filling Machines Form, Fill, and Seal (FFS) Machines Cartoning Machines Palletizing Machines Labelling Machines Wrapping Machines Cleaning and Sterilizing Machines
By End-User Food and Beverages Pharmaceutical Chemicals Cosmetics Others (Electronics and Industrial)
By Regions North America Europe Asia-Pacific LAMEA