Packaging Equipment Market Size is set to surpass USD 50 billion by 2027, according to a new research report by Global Market Insights Inc.
The rising need for customized package sizes fueled by the expanding e-commerce industry is driving the packaging equipment industry growth. According to India Brand Equity Foundation (IBEF), the Indian e-commerce industry is expected to reach USD 111.40 billion by 2025 from USD 46.2 billion in 2020.
Leading market players including Amazon.com, Inc., Flipkart, eBay Inc., and Shopify Inc. are undertaking long-term partnerships with packaging equipment manufacturers to design solutions that ensure that the products are packed safely and efficiently for distribution to global consumers. Manufacturers employ modular packaging technology that provides flexibility and adapts swiftly to the changing package styles. Market players use packaging equipment that use comprehensive production line to perform various operations including filling, labeling, capping, and palletizing.
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The COVID-19 pandemic had a moderate impact on the packaging equipment market revenue. The demand for packaging equipment declined in the first half of 2020 due to stringent quarantine measures that caused the shutdown of manufacturing facilities. The market gained traction in the second half of 2020 owing to a relaxation in lockdown. Globally, the governments have implemented policies to address the impacts of COVID-19 to minimize supply chain disruptions and increased raw material costs. Companies are increasing their R&D investments to design innovative products led by the rising awareness about the benefits of sustainable packaging solutions.
Growing demand for labeling to provide information about the packaged product
Packaging is important in the marketing and usage of products, while labeling ensures that products can be easily identified and meet regulatory standards. Packaged product labeling is critical for adding information including serialization, tracking codes, and tamper-proof labels. In the packaging industry, labeling solutions enable products to be effectively tagged, monitored, and traced while satisfying diverse industries' strict safety and certification standards. Industry participants offer different types of packaging equipment that adjust labeling positions based on the product size.
Browse key industry insights spread across 300 pages with 423 market data tables and 32 figures & charts from the report, “Packaging Equipment Market Size, By Product (Fillers [Liquid Type, Powder Filling, Bottle Filling], FFS (Vertical, Horizontal), Capping [Screw Capping, Vial Coating, ROPP (Roll On Pilfer Proof) Cappers], Labeling [Wet Glue, Self-adhesives, Rotary Sticker], Coding [Wet Ink System, Ink Jet System, Laser System, Hot Stamp, Thermal Transfer], Palletizing), By Application (Food & Beverage, Pharmaceutical, Chemical, Personal Care, Mechanical hardware & Products), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
Growing consumption of packaged food & beverages to fuel packaging equipment market demand
Increasing health awareness has boosted the demand for nutritious packaged food and beverages. Industry players offer packaging equipment that provide contamination protection, tampering resistance, and preserve product quality. The rotary filling and sealing packaging equipment enable different fillers to dispense ingredients for easy mixing. Double chamber vacuum packaging equipment ensures the fresh quality of food & beverages.
The manufacturers offer products that use high precision servo film transporting systems and photoelectric modules to enable packaging with minimal product wastage. Intelligent digital temperature control and stability ensures optimum sealing of food and beverages.
Expanding demand for personal care products in Europe
Europe packaging equipment market is witnessing high growth of about 5% CAGR through 2027 and has demand for quality personal care products due to the presence of global and regional players, offering products with innovative packaging to attract customers. According to Cosmetics Europe-The Personal Care Association, the market surpassed USD 87.45 billion at retail sale price in 2020.
New product launches with advanced functionalities form a key strategy
Industry participants are focusing on expanding their product portfolios by introducing advanced packing equipment that boost performance. For instance, in March 2021, Douglas Machine Inc. introduced OPTX Shrink Wrap Systems that enhance productivity through flexibility, functionality, and package quality. OPTX allows convenient operation and inexpensive maintenance to manage labor shortages and skill gaps. OPTX offers improved productivity and efficiency through intuitive clear view guarding doors, high-performance metering systems, and built-in dependability features.
Prominent players operating in the packaging equipment market include Barry-Wehmiller Group, Inc., CKD Corporation, Coesia, Douglas Machine Inc., Duravant, FUJI MACHINERY CO., LTD., GEA Group, Graphic Packaging Holding, I.M.A Group, Krone AG, Langley Holdings Plc, Marchesini Group, OPTIMA Packaging Group GmbH, ProMach, SACMI Imola SC, Salzgitter AG, Sealed Air, SIG Combibloc Group Ltd., Syntegon Technology GmbH (Former Bosch Packaging), and Tetra Pak.