Packaging Machinery Market
Global Packaging Machinery Market Information by Type (Form Fill Seal, Labelling & Coding, Closing & Sealing, Wrapping & Bundling and others), by End–User (Food, Beverages, Pharmaceutical, Personal care, and others) And Region - Forecast To 2023
The requirement of delivering products both consumable and non-consumable products, has led to emergence of different innovation the packaging industry. Market reports linked to the packaging & transport sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is estimated to develop at a CAGR of 6 percent approximately in the forecast period.
The demand for packaging machinery has risen in conjunction with the rise of the concept of consumerism. The reason being is the need for food items, apparel, electronics etc. to reach their end users in good condition and also to effectively enhance their shelf life. Advances in technology and discovery of better packaging raw materials have reasonably led to the development of the packaging machinery industry and will continue to do so through the forecast period as well.
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Industry Segments
The segmentation for the packaging machinery market is divided on the basis of end user and type. On the basis of end users the segment includes beverages, food, pharmaceutical, personal care and others. On the basis of type, the segment includes labelling & coding, form fill seal, wrapping & bundling, closing & sealing, and others. The regions for packaging machinery include Asia Pacific, Europe, North America and rest of the world.
Detailed Regional Analysis
The regional analysis for packaging machinery includes Europe, Asia Pacific, North America and rest of the world. The Asia Pacific region is estimated to lead the Packaging Machinery industry globally. The development of the industry can be credited to the existence of a huge number of personal care product and food & beverage manufacturers in the region. The North American region is also estimated to develop considerably in the packaging machinery industry due to the incidence of a huge number of competitors in the industry.
Global Competitive Analysis
The corporate strategy of the competitors in the market is focused currently on capitalizing the dynamic pace of technological innovations which have led to plenty of changes both in terms of product development and handling competition. This particular trend has enabled portfolio improvement along with the affinity for diversification in the sector, which has indirectly enabled the players to use the valuable state of dealings available in this industry. The use of these prospects by contenders, who are trying to cultivate their industry stake by intensive expansion can stimulate the expansion of this industry. The companies are also moreover trying to create and capture financial in a suitable manner. This has elevated the potential for the forthcoming growth period significantly. The strategic decision-making process has increased the productivity of companies so that they maintain their company’s liquidity and sustain feasible to take effective choices in terms of strategy designing and implementation.
Illinois Tool Works Inc. (U.S.), Barry-Wehmiller (U.S.), Krones AG (Germany), GEA Group AG (Germany), Bosch Packaging Technology (U.S.), Automated Packaging Systems (U.S.), Graphic Packaging Holding (U.S.), Dover Corporation (U.S.), Mamata Enterprises (India), MULTIVAC Group (U.S.) are a few of the noteworthy players in the packaging machinery market globally.
Industry Updates:
Apr 2018 Kendall Packaging which is the company behind engineering the wrapping for common items such as candy and wet wipes, recently inaugurated its new 60,000-square-foot addition to Northeast Regional Industrial Park located Pittsburg operation. The Wisconsin-based firm had hosted the grand opening for the public and also offered plant tours upon celebrating the completion. The $10 million project has more than doubled the size of its previous 35,000-square-foot building, which delivers state-of-the-art machinery and will add about 18 jobs to the area. The growth has amplified the company’s output competency by 60 percent. A large share of the investment went to fresh equipment, comprising of a solventless laminator, 10-color printing press and a slitter.
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