Global Packaging Machinery Market to Witness an Outstanding Growth During 2029
Research Nester released a report titled “Packaging Machinery Market - Global Demand Analysis & Market Opportunity Outlook 2029”which delivers detailed overview of the global packaging machinery market in terms of market segmentation by type, product type, organization size, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk,along with detailed discussion on current and future market trends that are associated with the growth of the market.
Theglobal packaging machinery market is estimated to grow at a significant CAGR during the forecast period, i.e., 2021-2029 owing to the rising demand for advanced packaging among various end-users, including pharmaceuticals, and food & beverages, among others. The market is expected to witness growth on the back of various features of packaging machinery, such as, reduced packaging time, uniform distribution of content, and minimum material wastage. Moreover, usage of machines for packaging, reduces the cost of labor, in turn, reducing the overall production cost. The growing demand for packaged consumer goods backed by the changing lifestyle, is anticipated to boost the market growth.
The global packaging machinery market is segmented on the basis of type, into automatic, semi-automatic and manual. Out of these, the automatic segment is projected to gain a major market share during the forecast period owing to the benefits of computer operated machines, backed by the increased penetration of advanced technology. Automatic machines are faster as compared to manual or semi-automatic machines. This, as a result, helps the end-users to up-scale their production volume and lower their production time, and further lower their cost of operations. This is anticipated to boost the growth of the segment. Based on end-user, the market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, and others, out of which, the food & beverages segment is estimated to hold the highest market share over the forecast period owing to the varied range of products which requires specific packaging techniques that can only be attained through machines.
Regionally, the market in the Asia Pacific is projected to garner the highest CAGR throughout the forecast period owing to the presence of major food & beverage market players in the region, who need packaging machinery to package their end product. Additionally, the increasing government funding in the manufacturing sector in countries, such as, China and India, is expected to promote the pre-existing key players to expand their business, which is further anticipated to boost the market growth in the region. The market in the North America is estimated to hold a major share in the global packaging machine market, owing to the growing demand for packaged goods in the region. USA is one of the biggest exporter of goods and services, globally, which increases the demand of efficient packaging solution amongst manufacturers, to protect their products from damage during transportation. Moreover, the unavailability of cheap labor compels manufacturers to opt for packaging machinery to lower the total production cost, which is estimated to propel the market growth in the region.
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Features, such as, Fast, Sustainable, and Hygienic Packaging Solution likely to boost the Market Growth
Out of the 40,000 thousand tons of paper and cardboard waste produced in the United States in 2018, 33,500 thousand tons waste was recycled.
The growing need for sustainable packaging methods backed by the rising environmental awareness, is estimated to boost the market growth. Moreover, the increasing demand for packaged products, has also increased the demand for advanced packaging solution among various end-users. Packaging Machine offers faster packaging with minimum material waste, up-surged production rate of the product, and lower production cost. Moreover, the product remains contamination free and hygienic, as it is not touched by human hands.
However, the need for high capital investment and increased maintenance cost is expected to hamper the market growth.
This report also provides insights on the existing competitive scenario of some of the key players of the global packaging machinery market which includes company profiling of Barry-Wehmiller Companies, Automated Packaging Systems, Inc., Aetnagroup S.p.A., Nichrome Packaging Solutions, Coesia S.p.A., GEA Group Aktiengesellschaft (ETR: G1A), Illinois Tool Works Inc. (NYSE: ITW), Krones AG (ETR: KRN), Serpa Packaging Solutions and Syntegon Technology GmbH.Theprofiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hybrid construction equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors.We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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