Introduction:The consumer packaging market of the world is evaluated to be around $400 billion to be approx. and an approximated $500 billion if the end-markets of major industries are also added. The BRIC or simply known as Brazil, Russia, India, and China markets consist of about 30 percent of the demand of the world, with their economies improving at a considerable speed. The sales for packaging in the growing markets are forecasted to show robust growth as both the demand and increased consumption for the customer goods steers the need for more enlightened packaging, due to the increase in the middle class. This sector, however, has five main essential types of packaging. Board and paper (cartons and packaging included) are considered to be the strongest customer packaging category accounting for about 34 percent of the packaging market in total. Rigid plastics (jars, tubs, and pots) is considered to be the second-largest category in packaging accumulating about 27 percent of the share and is said to be the most fast-paced categories. They are predicted to expand to around 6 percent of the GDP until 2020. The macroeconomic atmosphere has been quite rigorous and demanding for the packaging and goods industry in recent times, despite the pressures on customer spending and their submission to the FMCG (Fast Moving Consumer Good) producers. The amalgamation of the Eurozone economic unpredictability and energy and raw material inflation price has also had a pessimistic impact on the packaging producers. The massive growth in the developing markets has been both opportunity and threat. Some of these factors are the contributions to the hurdles to being victorious as a producer in packaging. The seven most successful factors are the administration of raw material inflation, the depletion of the waste, efficient capital expenditure, global supply chain management, customer and product measurement, and innovation, etc.
GLOBAL MARKET OVERVIEW:The packaging goods and machinery market was expected to be valued around $39,647 million expanding at CAGR of about 7 percent to reach $62,063 million by the end of 2023. The packaging and goods machinery market has monitored added adoption due to the factors like expanding applications in the packaging and goods industry in a vast range of industries all over the healthcare, drink, food, cosmetics, and other customer goods along with a wide range of sectors where packaging has become a vital element, with its usage enlarging mainly in line with the economy around the world. Packaging machinery is most primarily used for a vast range of functions including canning; forming, filling, and container cleaning; bagging, unpacking, packing, sealing, bottling, and lidding; check-up and inspection weighing; shrink film, wrapping, and heat sealing; labelling, encoding, and case forming; depalletizing and palletizing; along with other applications.
PRODUCT INFORMATION:The need for packaging based machinery is significantly driven by the expanding number of consumer goods that are in high demand, increasing acquisition of packaging machines that are automated along with the expansion of energy friendly machines. The automated packaging goods and machines today are considerably used in different stages of packaging and safeguard that all the stages are done in minutes instead of the hours in comparison to the previous versions. The other most essential factor pushing the market for packaging goods and machinery is the developing need for packaging robots from plenty of user-end industries. The packaging machines play a crucial role in making sure that the product is safe in the entire supply chain. The packaging machinery around the world is subdivided based on the type of machine it has, geography and end-user based industries. Based on the type of machine, the market for packaging machinery is distributed into filling machines, cartoning machines, form fill and seal (FFS) machines, wrapping machines, labeling machines, sterilizing machines, palletizing machines, and cleaning machines. The filling machines are considered to be the most authoritative type of machine accumulating about 37 percent of the market overall back in 2016. Based on the industries that are mostly end-user, the goods and packaging machinery market around the world has been divided into beverage and food, chemicals, pharmaceuticals, cosmetics, and others. The beverage and food market dominated in 2016 and 2017 generating almost $25000 million and is forecasted to expand its CAGR to almost 6.9 percent. Asia-Pacific was the most prosperous region for the goods and packaging market in 2017 accumulating around 38 percent in the packaging market around the world. The significance of the Asian region is mainly due to the existence of a large number of beverage and food as well as personalized product distributors and manufacturers in the region.
ESSENTIAL MARKET TRENDS:
Some of the most vital market trends regarding the packaging and goods machines are as follows:
1) Deduction in packaging materials – stronger, thinner, simpler, and lighter weight.
2) Smart packaging – quick print, more usage of RFID technology, amalgamated with quick time offers and time campaigns, RFID technology used in stock tracking, electronic tagging, etc.
3) Packaging closely related to manufacturing – Fewer cartons that are emptily transported in lorries.
4) Improved recycling – More convenient to recycle the packaging along with a large percentage of recycled materials used in the process of packaging.
5) Space Saving packaging – Extension of square cartons mainly used for drinks and other purposes.
6) Biodegradable packaging – Mostly made from the starch used in packing plastics along with a vast usage of cardboard.
7) Improvised methods to print the branding on different plastics like bottles.
8) Customer Returns packaging – Advancement in re-seal poaches to stay ahead in the growth of ordering online.
9) Infrequent usage of solvent type inks for printing and other purposes.
10) Consolidation of the packaging industry – Economies of scale expanding with giant turnarounds as well as next-generation advanced technology.
MARKET SEGMENT & KEY PLAYERS:
The machinery and goods packaging market are divided into three main industries. They are end-user, by tape, and geography.
a) By End-User:
- Beverage and food
- Electronics and industrial
- Wrapping machines
- Filling machines
- Palletizing machines
- Cartoning machines
- Sterilizing and cleaning machines
- United States
THE MOST RENOWNED INDUSTRIES OF THE WORLD:Some of the most renowned packaging and goods machines of the world are as follows:
- Aetna Group
- Bradman Lake Group
- Adelphi Packaging Machinery
- CKD Group
- Harland Machine Systems Ltd.
- Barry-Wehmiller Companies, Inc.