Global Packaging Machinery Market Analysis, 2020

The growing consumption of processed and packaged food, rapidly increasing growth of the e-commerce sector coupled with the rise in the disposable income is propelling the growth of the online sales, therefore, contributing to the demand for packaging machinery. Moreover, technological innovation in the food industry such as ready-to-eat natural food, organic food, and halal food is the key contributor to the growth of the packaged food which results in the Packaging Machinery market growth.

According to the research report titled “Global Packaging Machinery Market Analysis, 2019”, the Global Packaging Machinery market is anticipated to grow at a CAGR of around 5% during 2020-25. Asia-Pacific region acquired the major share in 2019 largely since the major countries in the region such as China and Japan are the leading manufacturers of consumer electronics and offer products at affordable prices, which boost the Packaging Machinery market growth.

The food sector dominated the market in 2019 on an account of the rising food wastage across the globe. As per the Food and Agriculture Organization of the United Nations (FAO), every year, around one-third of the total food produce is wasted owing to several issues ranging from proper packaging and storage. Hence, the end users are shifting toward the adoption of the processed and packaged food due to their longer shelf life and the ease of cooking.

In 2019, the filling machines dominated the market on an account of its usage in the food and beverage industry. Also, these machines are used in the packaging of the pharma products, chemicals, and personal care products.

The Expansion of the Facility Intensify Competition

The companies in the Packaging Machinery market are focused on facility expansion to gain a competitive edge in the industry. The key players in the industry are Robert Bosch GmbH, Salzgitter AG, Krones AG, Tetra Laval International S.A., etc.