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Packaging Equipment Market Analysis
The U.S. packaging equipment market is expected to witness 4% growth rate through 2027 led by the technology innovations in the product range. Players in the domain, such as Fuji Machinery Co., Ltd., Norden Machinery, and Krone AG, are emphasizing on developing their product offerings to build a differentiated market positioning to cater to a large set of customer base. This factor has encouraged enterprises to launch new machinery to increase the productivity of the packaging area.
In Germany, market is poised to expand at more than 5% CAGR till 2027 owing to the growing export from the pharmaceutical sector. Technological advancements & strong manufacturing capabilities of the country aid it to supply the product to other countries such as Argentina, Belarus & Chile. Rising export of the product will increase packaging equipment demand in the country to meet the market demand.
Asia Pacific packaging equipment market is estimated to attain a CAGR of over 6% during 2021 to 2027 due to the rising e-commerce industry. The COVID-19 pandemic resulted in the imposition of travel restrictions & lockdown regulations, which shifted the consumer focus toward online platforms for shopping groceries, electronics, medicines, clothing, cooking staples & home essentials products. According to the National Investment Promotion & Facilitation Agency, the Indian e-commerce market is predicted to be worth around USD 55 billion in gross merchandise value by the end of 2021.
In addition, the Government of India authorized 100% Foreign Direct Investment (FDI) under automatic route in B2B e-commerce and the marketplace business model. The growing support from governing bodies & customer shift toward online shopping platforms will foster the packaging industry expansion to maintain the supply-to-demand ratio.
How will packaging equipment landscape fare across Germany?
Germany packaging equipment industry will register a CAGR of over 5% through 2027 with the increasing product demand in the country driven by the rising export from the pharmaceutical sector.
Which are the major players active in packaging equipment market?
The major players active in the market include Graphic Packaging Holding, SIG Combibloc Group Ltd., GEA Group, I.M.A Group, Salzgitter AG, OPTIMA Packaging Group GmbH, SACMI Imola SC, FUJI MACHINERY Co., Ltd., CKD Corporation, Langley Holdings Plc, Douglas Machine Inc., Marchesini Group, Syntegon Technology GmbH, and Barry-Wehmiller Group, Inc.
Why is Asia Pacific packaging equipment business growing?
Asia Pacific market will observe over 6% CAGR through 2027 owing to the expansion of the regional e-commerce industry and shifting consumer focus toward online shopping.
Why is packaging equipment in high demand across the U.S.?
The U.S. market will record CAGR of over 4% through 2027 owing to the ongoing technology innovations and strong presence of various leading players in the region.
What is the value of packaging equipment market?
Market size of packaging equipment surpassed USD 35 billion in 2020 and will exhibit CAGR of over 4% through 2027 with the rising demand for automation in packaging sector.