Packaging Equipment Market will expand at 3% CAGR to hit 47 billion USD by 2024
Jan 15, 2019
The newly released research at Market Study Report titled “2018-2024 Global Packaging Equipment Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.
Selbyville, Delaware - January 15, 2019 /MarketersMedia/ —
The Europe packaging machinery market is witnessing a high growth owing to the rise in the demand for integrated solutions, changing consumer trends, and ecological requirements. FFS and palletizing machinery are experiencing a high adoption rate in several industrial sectors. Integrated technologies and multi-functional solutions offered by these machines are helping the factories in simplifying their processes. The application of this equipment in the food & beverage sector owing to the growing demand for packaged food is driving the growth of the Europe packaging equipment market. A strong customer base and the extensive adoption of technology are attracting several companies to invest in the region, thereby driving the packaging machinery market growth.
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Packaging Equipment Market is expected to exceed USD 47 billion by 2024. A rise in the adoption of plastic packing solutions for personal care and cosmetic products is driving the packaging equipment market growth. The industry players are shifting toward sustainable solutions by replacing plastic with biopolymers to improve their ecological footprint. Moreover, a rise in the demand for products and goods having a long shelf-life is driving the demand for innovative packaging machinery. Technological advancements are a major trend in the packaging industry with manufacturers collaborating with technology providers to offer their customers advanced packaging solutions.
The pharmaceutical packaging machinery market is witnessing a high growth owing to a rise in the demand for automated, flexible, and integrated packaging lines from the industry. Manufacturers are targeting the need for developing novel drug delivery solutions. Several regulatory changes regarding packaging of medical products are also expected to drive the industry growth. Some of these regulations are anti-tampering, labeling, and pharmacopeia standards. Developed countries including China, India, and Brazil are experiencing a high demand for this equipment owing to the improving economic conditions of the people and increasing investments by major pharmaceutical companies.
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Key players operating in the packaging equipment market are K?rber AG, Robert Bosch GmbH, Multivac Group, Barry-Wehmiller Companies, Inc., Coperion GmbH, ACG Worldwide, Graphic Packaging Holding Company, Accutek Packaging Equipment Companies, Inc., GEA Group, Aetna Group, B&H Labeling Systems, Krones Group, and Illinois Tool Works, among others. Players are integrating several technologies in their offerings, which will simplify the industrial processes. The integration of robotics, sensors, and IoT in the machines to provide mobile connectivity, monitoring and control is improving the overall productivity and efficiency.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Packaging Equipment Industry Insights
Chapter 4. Packaging Equipment Market, By Product
Chapter 5. Packaging Equipment Market, By Application
Chapter 6. Packaging Equipment Market, By Region
Chapter 7. Company Profiles
For More Details about this report: https://www.marketstudyreport.com/reports/packaging-equipment-market/
Outer scope of this report Apparently, families in the UK purchase more ultra-processed food compared to other regions in Europe contributing to 50.7% of the diet. Germany is second in ultra-processed food consumption with 46.2% followed by Ireland with 45.9% consumption rate. With rapidly increasing fondness for ultra-processed food in the European region the packaging equipment market can expect substantial regional growth from the belt in the years ahead.
As urbanization has begun to take a toll on developing countries, fresh produce is being replaced by packed foods and ready-made meals as individuals find it hard to prepare fresh meals while juggling busy schedules. To ensure good health and taste, major food companies are even coming up with healthier and safe food and beverage options. For example, Japan saw a high demand for organic packaged food last year, with organic confectionery being the fastest-growing category. In 2017, organic packaged food witnessed a value growth of 1% with sales of $370 million. Organic confectionary also observed significant growth with sales growth reaching 4% or $3.5 million in the previous year. The growing customer inclination towards healthy foods will thus boost the demand for more organic food and beverages, which will eventually influence the growth rate of packaging equipment market.
Contact Info:
Name: Arun Hegde
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Organization: Market Study Report
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-273-0910
Website: https://www.marketstudyreport.com
Source: MarketersMedia
Release ID: 470428
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