The global packaging machinery market size was valued at USD 40.08 billion in 2019 and is projected to reach USD 52.83 billion by 2027, exhibiting a CAGR of 3.6% during the forecast period.
Packaging machinery is utilized to perform functions such as filling, case handling, packing, bottling, labeling, inspection and check weighing, wrapping, palletizing, and other related applications. It is primarily employed for the first step in the transportation process and the final step in the manufacturing process.
Lean packaging operation with the overall equipment effectiveness (OEE) technique is a growing trend in the market. With lean packaging operation, standardization of machinery becomes an easy task. It offers multiple advantages such as nations that can demand a lower purchasing price and activities with ease of troubleshooting and maintenance.
Realistically, the packaging industry is divided into three major categories including, packaging manufacturing, packaging services, and packaging machinery. Wherein, the market is expected to grow moderately owing to the purchasing rationalization and minimal timelines of the product.
Impact of COVID-19 to Boost the Market Owing to the Implementation of Strategic Plans to Improve Production
Although the COVID-19 outbreak has negatively impacted manufacturing businesses across the globe, the packaging industry has experienced low exposure to the crisis. Most of the packaging companies are fully functioning with higher capacity whereas some are still strategizing to improve production.
On the other side, key manufacturers are implementing plans to standardize machines with advanced techniques to increase market sales. Furthermore, manufacturing processes in most affected countries including, China, Northern Italy, Germany, U.S. are performing complete operations. Therefore, the COVID-19 outbreak is expected to be a contributor for the development of the global market.
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Lean Packaging Operation with the Implementation of Overall Equipment Effectiveness (OEE) technique is Augmenting the Market Growth
The prerequisite for integration of packaging machines and upstream manufacturing processes is resulting in developed automation techniques for the industry. Lean packaging operation controls the packaging process by implementing OEE technique. Nowadays, lean packaging operations are highly adopted owing to the increased demand for packaged foods, continuous production of medicines and drugs, and increasing spending on branded products. This, in turn, is boosting the manufacturing process. Additionally, E-commerce companies across India, Indonesia, China, U.S., etc. are implementing lean packaging operations, in turn, propelling market growth.
Demand for Packaging in the Logistics & Transportation and Supply-chain Industry is Driving the Market
Several logistics and transportation companies necessitate packaging to wrap and bundle their goods and commodities. Therefore, the continuous growth in the logistics and transportation industry is expected to spur the demand for the packaging machinery, which in turn will boost the market growth in the near future. It is attributed to the increasing need for transportation of goods and products safely, from one place to another. Moreover, the E-commerce industry has grown tremendously over the past few years, which in turn is impacting the packaging machine market growth.
High Production and Import Cost is Hampering the Market Growth
Prominent market players are emphasizing on integrated packaging machines with wrapping, automated labeling, or palletizing machines, thus making it more efficient by reducing the operation time. However, it increases the overall production cost. Small and medium companies find it difficult to buy these machines thus, negatively affecting the export business. Moreover, developing countries such as India, Argentina, face the issue of importing machinery due to the taxes imposed by custom duty, thereby hampering the global market.
Case Handling Sub-segment is Expected to Hold the Largest Market Share attributed to the Utilization of Case Handlers in Warehouses
Based on machine type, the market is classified into bottling line, cartoning, case handling, closing, filling & dosing, form, fill & deal, labeling, decorating & coding, palletizing, wrapping & bundling, and others which includes inspection machines, etc. Wherein, the case handling sub-segment is expected to hold the largest market share, owing to the usage of case handlers in carrying goods and products safely in warehouses and modes of transport.
Labeling and Filling & dosing and sub-segments are anticipated to hold the second and third highest market share simultaneously. Furthermore, other segments, such as form, fill & deal, labeling, decorating & coding, palletizing, wrapping & bundling, are expected to grow steadily in the coming future, owing to the constant demand from the end-use industries.
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Food and Beverages Sub-segments are Projected to Grasp the Largest Shares in the Market, owing to the Increasing Demand for Processed Food Products
The end-user segment is divided into food, beverages, pharmaceuticals, personal care and toiletries, household, industrial and agricultural chemicals, and others. Wherein, the food sub-segment is estimated to hold the largest market share owing to the increasing investments by government and private companies in building new warehouses to store the food products. Furthermore, the beverages sub-segment is expected to hold the second-highest market share. The remaining sub-segments are expected to hold approximately 40% of the global market share.
Asia Pacific Packaging Machinery Market Size, 2019 (USD Billion)
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The market for packaging machinery is segmented across North America, Europe, Asia Pacific, Middle-East and Africa, and Latin America.
Asia Pacific is projected to hold the largest packaging machinery market share, owing to the huge investments in the manufacturing sector from the developing countries. The governments of India and China are focused on investing in the manufacturing sector to attract domestic and international consumers.
The market in North America and Europe are estimated to grow steadily in the near future owing to the low adoption of new machinery among existing customers. The companies do not purchase new machines in a short period, as the lifespan of packaging machinery is around 8 – 12 years.
Additionally, huge investments in the logistics and transportation industry from the governments of several countries located in the Middle East and Africa is the primary factor that is affecting the growth of the market. For instance, Saudi Arabia's government launched a program, ‘Vision 2030’ that focuses on investing huge amounts into its infrastructural, industrial, and tourism sectors.
The market in Latin America is expected to grow moderately owing to the slow adoption of such machinery in the manufacturing industry.
An Infographic Representation of Packaging Machinery Market
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The market research report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, packaging machinery industry trends helping our readers to get a comprehensive overview of the global market.
ATTRIBUTE
DETAILS
Study Period
2016-2027
Base Year
2019
Forecast Period
2020-2027
Historical Period
2016-2018
Unit
Value (USD billion)
Segmentation
By Machine Type
By End-User
By Region
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