Sep 03, 2021 (AmericaNewsHour) -- Research Nester released a report titled "Packaging Equipment Market: Global Demand Analysis & Opportunity Outlook 2027" which delivers detailed overview of the global packaging equipment market in terms of market segmentation by product, by application, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The changing lifestyle of people with advent of industrialisation has shifted the consumer preference towards packaged food and beverages. The increasing ready-to-eat food consumption has risen the requirement of sustainable packaging that could provide contamination free and nutritious food further resulting in large scale expansion of packaging equipment industry. The wide use of different types of industry dependent packaging material especially in pharmaceuticals and food & beverage industries is anticipated to boost the market growth by CAGR of 7.2% during the forecast period i.e. 2019-2027. Furthermore, recent developments to provide better packaging facilities in order to improve product longevity are expected to drive the market growth.
The global packaging equipment market is segmented by product, by application and by technology. The application segment is further segmented into food and beverage, pharmaceuticals, chemicals and personal care, out of which, the food & beverages segment is anticipated to have leading market shares on the back of rising demand of packaged food. The pharmaceutical industry is anticipated to contribute essentially into the market growth on the back of the requirement of proper packaging for protection from environmental conditions and prevention from chemical modification.The product segment is anticipated to witness a considerable CAGR on the back of increased use of automation in labelers and coders.Additionally, filling machines are anticipated to grow on the back of changing customer buying behavior.
On the regional basis, the market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The market in North America is anticipated to hold a large market share owing to rise in technological developments and innovations in smart packaging solutions. The market in Asia-Pacific is anticipated to have a significant market share during the forecast period owing to food and beverage industry and huge presence of pharmaceutical and personal care industry in the region.
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Increasing Purchasing Powerto Boost the Product Demand
The rise in the consumer purchasing power has resulted in improved standard of living leading to rise in packaged food consumption and expansion in healthcare sector. Moreover, The adoption of several technologies in packaging equipment industry for instance smart sensors, fault detection, remote monitoring, data collectivity, IoT technology and control features are anticipated to improve the operational productivity. Use of fully automatic machinery and equipment are anticipated to result in cost reduction in some preferred end use industries.
High Cost to backlash the market growth
High costs associated with the development and installation of equipment coupled with increasing maintenance costs of the equipment are estimated to restrict the packaging equipment market growth.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.This report also provides the existing competitive scenario of some of the key players ofthe global packaging equipment market which includes company profiling ofBarry Whemiller, Coesia, Krones (etr:KRN), Mamata, Nordson, Pro March Automated Packaging Systems, Dover /zigman2/quotes/208444467/composite DOV +2.08% , GEA Group, Graphic Packaging Holding /zigman2/quotes/203517136/composite GPK +1.96% and Illinois Tool Worksand other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global packaging equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About Research Nester
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