Writer：Finn Lu
Data：19/9/2024
The packaging equipment market size will exceed US$35 billion in 2020, and the GAGR growth rate is expected to exceed 4% from 2021 to 2027. Market growth is attributed to increasing demand for automation in packaging areas.
Manufacturers are focusing their efforts on combining modern robotic solutions with AI, machine learning and advanced algorithms across existing conveyor belts to reduce packaging errors. Cam Industrial & Remtech Systems is developing a tailor-made in-house packaging solution to replace the current packaging process. It eliminates the need for manual handling of sealing bags, thus increasing the efficiency of the department. The solution will support the company to increase production capacity to Catering to a large number of customers in the market.
The coronavirus pandemic has slightly impacted global markets. The sudden emergence of the virus has encouraged government authorities to impose strict lockdown norms and social distancing practices. The introduction of travel regulations has turned consumers' attention towards packaged food and beverages for daily meals.
In addition, the spread of the virus among factory workers has created labor shortage challenges for manufacturers and production houses, affecting the productivity of packaging activities. This factor encourages the deployment of advanced packaging equipment to meet industry needs. Increased adoption will support packaging equipment growth in the coming years.
Packaging equipment market analysis
The U.S. packaging equipment market is expected to experience a growth rate of 4% by 2027, driven by technological innovation in product range. Players in the region such as Fuji Machinery Co., Ltd., Norden Machinery Company, Kron AG, etc. have emphasized the development of their own Product offerings are required to build a differentiated market positioning to cater to a large customer base. This factor encourages companies to introduce new machinery to increase productivity in the packaging area.
In Germany, the market is expected to grow by more than 5% until 2027 due to growing exports from the pharmaceutical sector. The country's technological advancements and strong manufacturing capabilities help it supply products to other countries such as Argentina, Belarus and Chile. The increase in product exports will increase the country's demand for packaging equipment to meet market demand.
The Asia-Pacific packaging equipment market is estimated to reach a CAGR of over 6% during 2021 to 2027 due to the rise of e-commerce industry. The COVID-19 pandemic has led to the imposition of travel restrictions and lockdown regulations, shifting consumers' focus towards online platforms for purchasing food, electronics, medicines, clothing, staples and household essentials. According to the National Investment Promotion and Promotion Authority, the total merchandise value of the Indian e-commerce market is expected to reach approximately US$55 billion by the end of 2021.
Additionally, the Indian government has authorized 100% foreign direct investment under the automatic route for B2B e-commerce and marketplace business models. Increasing support from governing bodies and customers for shifting to online shopping platforms will promote expansion of the packaging industry to maintain the supply-demand ratio.
Post time: Sep-19-2024
