Case Packers refers to those machines that are used for the secondary packaging of the products. Case packaging is that type of packaging the help in keeping the goods safe while transportation as well as throughout the duration of storage. The market for case packers is projected to show healthy growth over the course of the next five years owing to the significant increase in the demand for various goods across the end-user industries that include pharmaceuticals, food, and beverage, cosmetics among others. Additionally, the booming FMCG industry is considered to be a major factor anticipated to propel the case packers market growth during the next five years. A decent increase in the manufacturing activities across the various end-user industries is also bolstering the market growth during the coming years.
However, the recent outbreak of the deadly COVID-19 disease is anticipated to be a major factor hampering the market growth during the short run as various government measures to halt the manufacturing activities in some industries is expected to reduce the demand for packaging solutions. On the other hand, the booming activities in the pharmaceutical and food & beverage industries due to decent growth in the demand during the advent of the pandemic is projected to propel the opportunities for the market to grow during the period of next six to eight months.
Growth of industries is significantly driving the demand
The major factor propelling the case packers market growth include significant growth in the manufacturing activities across the numerous industries and majorly across the pharmaceutical and F&B sector. Furthermore, the booming demand for consumer goods on account of the growing population, rising disposable income and the growing middle-class population throughout the globe is also projected to be a major driver for the market to grow during the next five years. The revolution of food packaging in terms of shape, sizes, and end-uses is also considered to drive the market growth for the food and beverage industry in the coming years.
A decent increase in household spending along with the disposable income in the developing economies like Brazil, China, and India among others is projected to drive the demand for packed food and beverages during the forecast period. According to the Organisation for Economic Co-operation and Development, household spending in China has increased from USD 2,666,514 million in 2005 to USD 7,648,476 million in 2015. Furthermore, the rising number of supermarket companies around the globe is also supporting the growing demand for packed food products, which is also anticipated to positively impact market growth during the forecast period.
Furthermore, the burgeoning requirements for reliable and speedy packaging solutions that offer product protection, quality, tamper evidence, and the security needs of the pharmaceutical sector is also positively impacting the demand. Growing healthcare and pharmaceutical industry is the major driving factor that is boosting the case packers market growth. Furthermore, the investments by major pharma companies in order to expand the production capacities and enhance the product portfolio is also expected to augment the packaging requirements by the companies and thereby propelling the demand for case packers and adding up to the market growth significantly. For instance, in October 2018, Merck announced an investment of around €63 million as a part of its €1 billionup to 2020 with an aim to transform its dedicated packaging and shipping site for the medicines of the company in Darmstadt. Furthermore, the rapid urbanization and the globally growing population are some of the key factors bolstering the demand for consumer goods, thus augmenting the opportunities for the case packers market to grow in the coming years. Additionally, the rising government initiatives to boost the manufacturing across these industries is also projected to supplement the packaging solutions requirements, thereby widening up the opportunities for the market to grow in the near future.
In addition, the rapid integration of AI-enabled solutions across the packaging industry and the technological innovations in the market has led to a launch of various new and innovative solutions by the key players of the case packers market, which also shows the potential for the market to grow throughout the forecast period.
The increasing investments by the major players in the case packers market in the form of facility expansions, R&D, development of new products, partnerships, and acquisitions, for capturing a greater market share further shows the potential for the market to grow in the near future. For instance, in February 2020, Brenton LLC announced the launch of its new and latest case-packaging technology at the Pack Expo East, the M2000. Similarly, in January 2020, Bosch Packaging Technology presented itself with a separated identity and as in independent enterprise with a new name Syntegon Technology. The company aimed to enhance its focus on intelligent and sustainable technologies and expand its product offerings. Furthermore, in August 2019, Edson Packaging Machinery Ltd, introduced its latest offering, the new Compact Case Packer 3600C for the away from home towel and tissue industry. Also, in September 2018, Combi Packaging Systems announced the completion of their new 156,000 square feet large facility to meet the requirements of their growing business.
ABOUT THE AUTHOR:
Rachit Gulati is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from automation to food and beverages, with a special knack for automotive and healthcare. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.