Pune, India, April 19, 2021 (GLOBE NEWSWIRE) -- The global packaging machinery market size is predicted to reach USD 52.83 billion by 2027, exhibiting a CAGR of 3.6% during the forecast period. The unceasing demand for packaged food, drugs, and other products will contribute effectively to the growth of the market, states Fortune Business Insights, in a report, titled “Packaging Machinery Market Size, Share & COVID-19 Impact Analysis, By Machine Type (Bottling Line, Cartoning, Case Handling, Closing, Filling & Dosing, Form, Fill & Deal, Labelling, Decorating & Coding, Palletizing, Wrapping & Bundling and Others), By End User (Food, Beverages, Pharmaceuticals, Personal Care and Toiletries, Household, Industrial and Agricultural Chemicals and Others) and Regional Forecast, 2020-2027.” The market size stood at USD 40.08 billion in 2019.
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Market Driver:
Heavy Demand from Transportation Industry to Amplify Growth
The rising demand for packaging in logistics and transportation can be a vital factor propelling the growth of the market. Various logistics and transportation companies require packaging machinery to wrap and bundle their goods and commodities before shipping. The surging logistics and transportation industry is expected to have a tremendous influence on the global market during the forecast period. Packaging enables the safety of products and consignment during transportation. Additionally, the flourishing E-commerce industry is expected to spur opportunities for the market in the foreseeable future.
Rising Shift towards E-Commerce to Uplift Packaging Industry Amid COVID-19
The disruption in the supply chain of various sectors has also impacted the packaging industry. Manufacturers are limiting the workforce at manufacturing facilities due to the regulations imposed by the governments. However, the implementation of advanced techniques by OEMs to increase production capacity will augur well for the market. Similarly, the rising consumer inclination towards E-commerce due to the outbreak will significantly accelerate the revenue of the industry.
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Regional Analysis:
Enormous Investments in Manufacturing Sector to Favor Market in Asia Pacific
The market in Asia Pacific stood at USD 13.34 billion and is expected to account for the highest share in the market owing to, the heavy investments in the manufacturing sector. The rising government support in countries such as India and China are expected to enable speedy expansion of the market. North America and Europe are expected to witness a steady growth rate during the forecast period due to the low adoption of packaging machinery in the regions.
Key Development:
February 2019: BLAŽEK announced the launch of a fully automated ‘AMS 10-05 manipulator’, an addition to packaging equipment product range. The high performing equipment is equipped with a FESTO drive and control system that ensures fast operation.
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