Global cartooning machines market is expected to grow at a compound annual growth rate of 4.03% over the period 2019 to 2024 to reach a market size of US$4912.438 million by 2024 from US$3875.946 million in 2018. Cartooning Machines refers to a type of packaging machines used for the purpose of forming cartons. These machines are suitable for packing products into boxes with automatic loading. Products can be loaded into the machine infeed manually by the operator or automatically by a mechanical unit. The cartooning machines market is expected to rise on account of the growing use of carton packaging in various industries. Further, the growing FMCG industry along with the need to transport and store products is anticipated to drive the market for cartooning machines. Additionally, rising of e-commerce industry along with logistics industry in few regions is projected to provide growth opportunities during the forecast period. The Cartooning Machines market is segmented on the basis of machine type, end user and geography. In machine type segment the horizontal cartooning machine is expected to hold a significant market share, while the vertical cartooning machine is expected to witness a substantial growth. Furthermore, in the end user segment the food and healthcare sector are projected to witness a significant growth owing to the transportation and storage of food and clinical products. Geographically, Asia-Pacific is anticipated to be a dominant share holder in the cartooning machines market on account of the rising e-commerce and logistics industry. Europe and North America are also projected to witness a steady growth during the forecast period.
Growing FMCG industry.
Rising use of carton packaging by various industries.
High Costs of equipment
In September 2017, Bradman Lake acquired the business and operations of Ibonhart (Norwich) Ltd, a specialised and innovative manufacturer of bread and baked goods bagging, slicing and packaging machinery to expand Bradman Lake’s product offering to the bakery sector.
Some of the major players profiled in the Cartooning Machines market include Loesch Verpackungstechnik GmbH, Shibuya Corporation, Mpac Group plc, ADCO Manufacturing, Bradman Lake Group Ltd., Pakona Engineers Pvt Ltd., Jacob White Packaging Ltd., Engelmann & Buckham Ltd., EconoCorp Inc., Robert Bosch Packaging Technology GmbH.
The Cartooning Machines market has been analyzed through the following segments:
Horizontal Cartooning Machines
Vertical Cartooning Machines
Food & Beverage
Middle East and Africa