Beverages Industries will Drive the Packaging Machinery market During the Forecast Period 2019-2025
The global packaging machinery market has been analyzed to grow at CAGR 4.7% during 2019-2025 from $39.6 billion in 2018. Rapid development and demand for increased volumes of products from the ecommerce sector, increase in consumption of packaged food in developed as well as developing countries due to an increasing millennial population has led to increase in demand for packaging machinery. These factors are driving the market for packaging machinery.multi lane packaging machine
The packaging machinery market is all set to exhibit robust development with growing demand from retail and e-commerce, F&B, pharmaceuticals and many others. In order to maintain fresh packaged food and increase shelf life, food packaging industries are using automated machines and increasing usage of vacuum packaging machines. Furthermore, changing consumer preferences are leading market players to shift towards the use of environment-friendly packaging which requires sophisticated packaging machines as well. To meet increasing demand on their ecommerce portals, companies such as Amazon, Flipkart and so on are opting for automated packaging machineries in their own warehouses to reduce packaging time. Recently, Graphic Packaging International (GPI) has been approved to join Amazon's Packaging Support and Supplier Network (APASS), thereby helping in growth of the packaging machineries market.
APAC holds the largest market share, and registered around 35% of the global share in 2018. China is the leading manufacturer of affordable consumer electronics including mobile phones, tablets, and other gadgets, with players operating in this market contributing to around 90% of the global share in 2018. Other countries in the APAC region such as India, Taiwan, and others are also taking strides in the consumer electronics market. These gadgets need packaging cartons which contribute significantly to demand for packaging machinery in the APAC region. Ecommerce industry in the APAC region is estimated to grow by 31% annually by 2020. Increasing customer preferences to purchase online is estimated to positively impact the APAC packaging machinery market during 2019-2025.