Developments in Packaging Formats in the e-Commerce and Food & Beverages Industries will Drive the Packaging Machinery market During the Forecast Period 2019-2025: IndustryARC
HYDERABAD, India, June 28, 2019 /PRNewswire/ -- The global packaging machinery market has been analyzed to grow at CAGR 4.7% during 2019-2025 from $39.6 billion in 2018. Rapid development and demand for increased volumes of products from the ecommerce sector, increase in consumption of packaged food in developed as well as developing countries due to an increasing millennial population has led to increase in demand for packaging machinery. These factors are driving the market for packaging machinery.
The packaging machinery market is all set to exhibit robust development with growing demand from retail and e-commerce, F&B, pharmaceuticals and many others. In order to maintain fresh packaged food and increase shelf life, food packaging industries are using automated machines and increasing usage of vacuum packaging machines. Furthermore, changing consumer preferences are leading market players to shift towards the use of environment-friendly packaging which requires sophisticated packaging machines as well. To meet increasing demand on their ecommerce portals, companies such as Amazon, Flipkart and so on are opting for automated packaging machineries in their own warehouses to reduce packaging time. Recently, Graphic Packaging International (GPI) has been approved to join Amazon's Packaging Support and Supplier Network (APASS), thereby helping in growth of the packaging machineries market.
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APAC holds the largest market share, and registered around 35% of the global share in 2018. China is the leading manufacturer of affordable consumer electronics including mobile phones, tablets, and other gadgets, with players operating in this market contributing to around 90% of the global share in 2018. Other countries in the APAC region such as India, Taiwan, and others are also taking strides in the consumer electronics market. These gadgets need packaging cartons which contribute significantly to demand for packaging machinery in the APAC region. Ecommerce industry in the APAC region is estimated to grow by 31% annually by 2020. Increasing customer preferences to purchase online is estimated to positively impact the APAC packaging machinery market during 2019-2025.
Packaging Machinery Market Growth Drivers:
Adoption of Advanced Control Software:
Integration of advanced software in packaging machinery is proving to be helpful in improving control and connectivity. This is also opening up avenues for expanding production capacity through smart manufacturing techniques. Usage of remote monitoring can be useful to keep a timely check on the performance of real-time tasks and troubleshoot problems. In 2016, Premier Tech Chronos, a company which delivers bag-packing equipment, came up with a cloud-enabled, remote-monitoring solution for its packaging equipment. This wireless solution allows for sharing vital diagnostic information with customers and enables predictive and preventative maintenance activity. The machines can also have mobile access with advanced software.
Shift in buying preferences:
The Organization for Economic Co-operation and Development (OECD) estimates that household disposable income will grow from 1% to 5.5% by 2020, globally. People with growing disposable incomes are increasingly more willing to pay for branded products with attractive packaging. The shift in buying preferences is identified as a game-changing factor in driving the packaging machinery market growth.
R&D Investment and Initiative, Funding:
Bosch has designed and installed an integrated packaging system consisting of vibratory channels. Introduction of this machine will ensure maximum flexibility. This equipment has the capacity to pack 400 packages per minute. Implementation of such machines will help in increasing production.
GN Packing Machinery Inc., has merged with investing company Mide Pak to expand business operations. In 2018, IMA acquired 70% of stake in Ciemme Srl, which manufactures and markets end-of-line automatic machines. Graphic Packaging International Inc. has announced plans to invest $41.5m to upgrade machinery for production of beverage packaging paperboard in West Monroe.
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The Major Players Packaging Machinery Market Include
Players operating in the packaging machinery market include Aetna Group, B&H Labelling Systems, Barry-Wehmiller Companies Inc., Bosch Packaging Machinery, Bradman Lake Group, CKD Group, Coesia SpA, Fuji Machinery Company and others. Major companies such as Bosch and others are focusing on expanding their product portfolio and thereby enhancing market prospects. In 2018, Bosch Packaging Machinery launched Sigpack HML horizontal flow wrapping machine which hermetically packs 350 pharmaceutical products in one minute.
Increased use of automation in the packaging industry and rise in global consumption of consumer goods are major factors impacting growth of the packaging machinery market. Continuous developments in the ecommerce business is leading to significant growth in the packaging machinery market. Increased demand from the F&B industry due to customers' rising awareness regarding retention of product quality and sustainable packaging is also contributing to growth in the packaging machinery market.
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