June 09, 2022 02:42 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 09, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global packaging machinery market size is predicted to reach USD 52.83 billion by 2027, exhibiting a CAGR of 3.6% during the forecast period. The unceasing demand for packaged food, drugs, and other products will contribute effectively to the growth of the market. The market size stood at USD 40.08 billion in 2019.
The market for packaging machinery is client situated and driven by the increased interest for an assortment of items in various kinds and sizes of packages. Producers in the end-use businesses are taking on measured packaging machines that offer adaptability and immediately adjust to the changing packaging designs, alongside complete packaging lines that consolidate numerous capacities, like a filling, naming, and shutting from a solitary source.
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Heavy Demand from Transportation Industry to Amplify Growth
The rising demand for packaging in logistics and transportation can be a vital factor propelling the growth of the market. Various logistics and transportation companies require packaging machinery to wrap and bundle their goods and commodities before shipping. The surging logistics and transportation industry is expected to have a tremendous influence on the global market during the forecast period. Packaging enables the safety of products and consignment during transportation. Additionally, the flourishing E-commerce industry is expected to spur opportunities for the market in the foreseeable future.
Rising Shift towards E-Commerce to Uplift Packaging Industry amid COVID-19
The disruption in the supply chain of various sectors has also impacted the packaging industry. Manufacturers are limiting the workforce at manufacturing facilities due to the regulations imposed by the governments. However, the implementation of advanced techniques by OEMs to increase production capacity will augur well for the market. Similarly, the rising consumer inclination towards E-commerce due to the outbreak will significantly accelerate the revenue of the industry.
Maintainability and rising ecological worries have increased the interest for lightweight and meager walled packaging to decrease how much material utilized for packaging. Subsequently, to work with these prerequisites, gear makers center around the advancement of machines with further developed usefulness to augment creation speeds while obliging more delicate and more slender packaging materials.
Mechanization inside the packaging machinery offers different advantages, like increased operability and adaptability of the gear, combined with a higher throughput rate. In accordance with the mechanization pattern, the utilization of mechanical technology offers many advantages, including a high throughput rate, better accuracy, consistency, and negligible piece/squander. Subsequently, the fuse of mechanical technology has increased throughout the last 10 years and is growing in different finish of-line processes, like wrapping and palletizing.
Enormous Investments in Manufacturing Sector to Favor Market in Asia Pacific
The market in Asia Pacific stood at USD 13.34 billion and is expected to account for the highest share in the market owing to, the heavy investments in the manufacturing sector. The rising government support in countries such as India and China are expected to enable speedy expansion of the market. North America and Europe are expected to witness a steady growth rate during the forecast period due to the low adoption of packaging machinery in the regions.
February 2019: BLAŽEK announced the launch of a fully automated ‘AMS 10-05 manipulator’, an addition to packaging equipment product range. The high performing equipment is equipped with a FESTO drive and control system that ensures fast operation.
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