Packaging Equipment Market Analysis

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.