February 15, 2023 06:10 ET | Source: Facts & Factors Facts & Factors
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SAN FRANCISCO, U.S., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Packaging Machinery Market Size, Share, Growth Analysis Report By Type (Form, Filling Machines, Palletizing machines, Wrapping Machines, Fill & Seal Machines, Cleaning & Sterilization Machines, Labeling Machines, and Cartoning Machines), By End-User (Pharmaceutical, Food & Beverages, Cosmetics, Chemicals, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
“According to Facts and Factors, the global Packaging Machinery Market size was worth around USD 47 billion in 2021 and is predicted to grow around USD 82.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.35% between 2022 and 2030.”
Packaging machinery is an important piece of equipment that has applications throughout the packaging process including primary outer covering to the requirements for final distribution. Various processes can be taken care of with the use of packaging machinery including cleaning, fabrication, sealing, labeling, combining, palletizing, and overwrapping. Certain packaging operations cannot be done manually and most definitely require the help of the packaging machinery or equipment. For instance, some devices offer heat protection by completely sealing off the product.
In such situations heat sealers are required that cannot be handled by humans. In many industries, heat sealers are effective in safeguarding the quality of the product that is stored in the package; however, the use of such sealants should be properly documented especially in the drug, food, or medical product category. Packaging machinery can be designed to meet the changing demands of the end consumers since not all businesses have the same requirement and there may be changes in package size and competence.
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Since packaging machinery is high in cost, businesses should pre-investigate the technical capabilities to finalize the type of machinery that should be installed in the producing units. For instance, packaging machinery can either be bought off-the-shelf or custom-made specific to operational needs. They can be modified in-house as well but needs technically experienced employees.
Key Insights from Primary Research
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The global packaging machinery market is anticipated to grow owing to the increasing use of equipment in the cosmetic industry. With the growing population and information availability on the internet, the demand for cosmetics and personal care products has grown exponentially in the last decade. The market is further propelled by the emergence and reach of e-commerce websites, and social media platforms as more people gain access to the products. Pushed by the opportunities in the cosmetics segment, the world is witnessing a rise in the number of players.
Initially, the market was dominated only by certain international brands like L’Oréal, however, the number of competitors has increased considerably over the years. India itself is home to at least 20 well-known brands, excluding the domestic players. The industry is one of the largest consumers of packaging machinery as the outer and inner layer of the product is critical from the viewpoint of safeguarding the product as well as acting as a marketing tool.
The key restraining factor is the growing limitations on packaging waste generation from machinery. Since the world is moving towards an uncontrollable and irreversible level of pollution and waste generation, government regulatory bodies have stepped up and are holding companies responsible for the impact business operations have on the environment. Packaging machinery can create heaps of waste that cannot be reused. For instance, in 2020, the packaging industry generated more than 79 million tonnes of waste.
The increasing number of consumables may provide growth opportunities while the supply-chain disruption is expected to challenge market growth
Packaging Machinery Market: Segmentation Analysis
The global Packaging Machinery Market is segmented based on type, end-user, and region
Based on type, the global market divisions are formed, filling machines, palletizing machines, wrapping machines, fill & seal machines, and cleaning & sterilization machines. The global market witnessed the highest growth in the fill & seal machines owing to high demand in two of the most dominating sectors that are healthcare and F&B. Since the products packaged should be free of contamination until they reach the final consumer, they have to be packaged using precise and customized solutions. Amcor, a product packaging company has a turnover of INR 500 crore.
By end-user, the global market divisions are pharmaceutical, food & beverages, cosmetics, chemicals, and others. The pharmaceutical segment leads the global market with the highest market share as the products in this segment require extremely concise and specific packaging solutions. In 2019, the global pharmaceutical packaging market generated USD 89 billion in revenue.
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Europe is projected to witness the highest growth in the global Packaging Machinery Market owing to the growing applications in the consumer goods industry especially driven by the cosmetics sectors. European nations are not only some of the largest cosmetics-producing economies but also the heaviest consumers of the products. Germany leads the consumption rate and stands at a value of USD 13 billion euros. The biggest cosmetic brand L’Oréal originated in France and currently runs 4 main divisions. The company’s annual revenue in 2019 was USD 34 billion and recorded an increase of 5.2% from 2018.
Growth in Asia-Pacific may be driven by the growing consumer goods industry to meet the demand of the expanding population. Industries like pharmaceuticals and food & beverages (F&B) are expected to drive regional growth. In April 2022, India recorded a rise of 202% in foreign investments directed toward the pharmaceutical industry.
The report contains qualitative and quantitative research on the global packaging machinery market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global packaging machinery market include;
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The global packaging machinery market is segmented as follows:
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