With the increasing advancement in packaging technology for variety of end-use application, the demand is expected to grow further in the next ten years. Manual tasks are rapidly being replaced by automatic packaging machines in the each and every industry globally. Most of the demand for packaging machinery is generated from the food & beverages industry due to significant growth in the consumption of the packaged food in the developing as well as developed economies of the world.
New packaging formats in the e-commerce and food & beverages industry are gaining popularity which has created the need for development of product-specific packaging machinery. Packaging machinery manufacturers are innovating in terms of increasing the efficiency of existing products and the development of customized products according to the requirement of customers.
Global demand for packaging machinery is largely fulfilled by manufacturers present in five major countries which includes Germany, Italy, U.S., China, and Japan. German and Italian packaging machinery manufacturers acquire the largest market share in terms of offering highly sophisticated and automated packaging machinery. However, the price of the product is too high. Leading manufacturers, such as Krones AG, I.M.A. Group, etc., in these countries export their products to almost each and every country located across the globe. There is one major challenge faced by the importers is the high import duties and taxes charged by their local government on the packaging machinery.
Labelling, decorating, and coding machinery leads the way in terms of global consumption of packaging machinery. These packaging machinery are widely used in different end-use industries, prominently in the food & beverages industry, for labeling variety of end-use products such as bottles, boxes, containers, etc. Form fill and seal machines are increasingly gaining traction in the emerging as well as developed countries due to the integration of three processes in a single system.
More and more end-use companies are demanding integrated packaging machinery rather than purchasing different machinery for a specific application. Integration of packaging machinery has also propelled the demand for bottling line machinery globally. Also, another major reason for the growth of bottling line machinery is the increasing consumption of the beverages products around the world.
Request PDF Sample for Detailed Information about Industry Size, Share, Growth, Trends @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3076
On the basis of product type, packaging machinery market is segmented into Bottling Line, Cartoning Machines, Case Handling Machines, Closing Machines, Filling and Dosing Machines, Form, Fill, and Seal Machines, Labelling, Decorating, and Coding Machines, Palletizing & De-palletizing Machines, Wrapping & Bundling Machines, and Others. Filling and dosing machines dominate the market in terms of revenue generation during the forecast period. In terms of sales, the bottling line machinery is expected to witness a highest CAGR value of 7.8%, during 2018-2026.
The European region accounts for the largest market share in terms of production of sophisticated and highly advanced packaging machinery. Germany and Italy are the main production hub for the packaging machinery in Europe. Both of these countries export a large proportion of its production to U.S., China, ASEAN, India, Korea, and Japan. On the other hand, Chinese manufacturers offer average quality packaging machinery at very low prices which in turn create the extraordinary demand for their products in the global market. End-user companies with low investment budget for the packaging machinery often buy Chinese machinery to fulfill their requirements. However, the scenario has changed in recent years due to the increasing focus of Chinese manufacturers to offer high quality machines at a lower cost. It is expected that the European manufacturers have to cut down the cost of their products to remain competitive in the market.
Some of the key players in the global packaging machinery market include Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA, Tetra Pak International S.A., Coesia S.p.A., Marchesini Group S.p.A., OPTIMA Packaging Group GmbH, Omori Machinery Co. Ltd., ProMach, Inc., Herma GmbH, Videojet Technologies, Inc., Muller Load Containment Solutions, Premier Tech Chronos Ltd., Ishida Co. Ltd., PFM Group, GEA Group Aktiengesellschaft, Sidel S.A., Serac Inc., Nissei ASB Machine Co., Ltd., Krones AG, MULTIVAC, Reynolds Group Holding Limited, Hitachi America, Ltd., Markem-Imaje Corporation, Fromm Packaging Systems, Inc., Hangzhou Youngsun Intelligent Equipment Co. Ltd., Fres-co System USA, Inc., and Fuji Machinery Co. Ltd.