Packaging machinery market is used to pack the end product or components manufactured across the different industry verticals such as pharmaceuticals, food and beverage and cosmetics among others. The market is poised to grow on account of rising demand for packed commodities due to rising disposable income.
According to the report, the Packaging Machinery Market is projected to increase at a CAGR of 5.29% over the forecast period 2019-2025. The market for packaging machinery is expected to surge during the forecast period as the rapid urbanization and rising disposable income in major developing economies around the world such as China, Indonesia, and India, is further augmenting the demand for packaged goods. As the goods are packed in protective packages, their use is considered safe and also free from damages that occur during the transit of these products. Moreover, growing investments by key players in the market in the form of R&D to bring out the state-of-art packaging solutions and equipment also show the potential for the growth of the market during the next five years. The packaging machinery market is segmented on the basis of machinery type, technology, end-user industry, and geography. On the basis of geography, the Asia Pacific is projected to hold a noteworthy share in the market owing to the fact that continuously rising demand for food, electronics, medical supplies and other packed materials on account of the growing population. The European region is projected to show decent growth throughout the forecast period owing to the strict regulatory environment for the safety of packaged goods.
On the basis of the end-user industry, the market has been classified into cosmetics, chemicals, logistics, food and beverage, pharmaceuticals and others. The pharmaceutical segment is projected to hold a good market share as the growth of the pharmaceutical sectors of numerous countries such as Japan and the United States, due to the rising healthcare sector, growing geriatric population and well-established healthcare industry, which is further propelling the demand for medicines and other medical supplies. Moreover, rising investments by leading pharma companies around the world in the form of facility expansions to uplift their production to meet the growing demand is also expected to augment the market growth opportunities for the coming years. For instance, Merck, a leading pharmaceutical company invested around €63 million as a part of its €1billion investment plan till 2020 for transforming its dedicated packaging and shipping site situated in Darmstadt. The food and beverage is projected to show good growth during the next five years on account of the changing lifestyle of people across the globe which is instigating the demand for ready to eat food and packed food.
The major players covered as part of the report are Syntegon Technology (Bosch Packaging Technology), EDL Packaging Engineers, GEA Group, Barry-Wehmiller, Coesia SpA, Krones AG, Ilapak, andOCME s.r.l among others.
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In this report the Packaging machinery market has been segmented based on the following: