SELBYVILLE, Del., January 14, 2020 (Newswire.com) - According to latest report “Packaging Machinery Market by Product (Fillers [Liquid Type, Powder Filling, Bottle Filling], Form Fill Seal [Vertical, Horizontal], Capping [Screw Capping, Vial Coating, ROPP (Roll On Pilfer Proof) Cappers], Labelling [Wet Glue, Self-Adhesives, Rotary Sticker], Coding [Wet Ink System, Ink Jet System, Laser System, Hot Stamp, Thermal Transfer], Palletizing), Application (Food & Beverage, Pharmaceuticals, Chemical, Personal Care), Regional Outlook, Competitive Market Share & Forecast 2024”, by Global Market Insights, Inc., the market valuation of packaging machinery will cross $47 billion by 2024.
The food & beverage industry held more than 55% of the global market share in 2017. The packaging machinery market outlook has observed an expanding demand for the latest machinery from developing sectors. The growth in demand can be attributed to an increase in expenditures on a wide range of ready-to-go and processed food & beverage products.
Various key companies operational in the food & beverage sector are looking to strengthen their footprints in untapped sectors to answer accelerating demand by constructing new plants and buying the latest machinery. Additionally, with shifting consumer preferences, firms functioning in the food & beverage sector are expected to announce a huge range of the latest products, which require advanced packaging machinery.
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The packaging machinery market forecast report estimates that the pharmaceutical application segment will observe immense growth in coming years. The growth is attributable to an increase in demand for flexible, integrated, and automated packaging lines from the market.
Producers have been targeting the requirement for advancing new drug delivery solutions which has contributed to enhancing packaging machinery market trends. Numerous regulatory changes concerning medical product packaging are also likely to fuel industry growth. A few of these rules are labeling, pharmacopeia, and anti-tampering standards. Developing economies, such as India, Brazil, and China, are witnessing a high demand for packaging machinery due to the advancing economic situation of the population and augmenting investments by key pharmaceutical firms.
The packaging machinery market forecast report predicts that Asia-Pacific is anticipated to experience relentless growth and is likely to reach $18 billion by 2024. The growth can be credited to the amplification in the number of pharmaceutical firms. Countries such as China, India, South Korea, and Japan are shifting toward automation and have been rapidly adopting smart industrial solutions in production processes. Strict regulations that instruct pharmaceutical companies to follow particular standards for drug packaging will positively augment the market share.
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Table of Contents (ToC) of the report:
Chapter 3. Packaging Machinery Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.2.1. Industrial machinery industry landscape
3.2.2. Food & beverage industry landscape
18.104.22.168. Human food
22.214.171.124. Pet food
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.2. Component suppliers
3.3.4. System integrators
3.3.5. Distribution channel analysis
3.3.6. Buyer landscape
126.96.36.199. By machine type
188.8.131.52. By customers
3.3.7. Vendor matrix
184.108.40.206. List of key manufacturers/suppliers
220.127.116.11. List of key/potential customers
3.4. Technology & innovation landscape
3.4.1. Impact of IoT and digitization
3.4.2. Industry 4.0
3.4.3. Robotics & automation
3.4.4. Sensors and inspection devices
3.4.5. Digitalized labeling processes
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
3.5.4. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
18.104.22.168. North America & Europe
22.214.171.124.1. Adoption of smart packaging solutions
126.96.36.199.2. Growing focus on labeling and serialization for anti-counterfeiting of drugs
188.8.131.52. APAC & LATAM
184.108.40.206.1. Flourishing pharmaceutical industry
220.127.116.11.2. Flexible packaging solutions
18.104.22.168.3. Automation in packaging machinery
22.214.171.124.4. Packaged foods and beverage consumption
126.96.36.199.5. Cosmetics packaging machinery demand
188.8.131.52.1. Ready-to-drink beverage consumption
3.6.2. Industry pitfalls & challenges
184.108.40.206. Need for high capital investment for setting up plants in developing markets
220.127.116.11. Stringent government regulations for packaging and safety
18.104.22.168. Growing preference for refurbished packaging machinery
22.214.171.124. Fluctuating raw material prices
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. Company market share analysis, 2017
3.9.1. Competitive landscape
3.9.2. Strategic dashboard
126.96.36.199. New product development
188.8.131.52. Mergers, acquisitions, and strategic partnerships
3.10. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.