The global food and beverage packaging machinery market was valued around $22 billion in 2015 and is expected to surpass $29 million by 2020, says Technavio.
Technavio has announced its latest market research report on food and beverage packaging machinery for the forecast period, 2016-2020. This market analysis, under the unit operations vertical, discusses the major drivers and key emerging trends that will influence the growth of the global food and beverage packaging machinery market during the forecast period. Some of the top vendors listed in this industry analysis include Bosch Packaging Technology, GEA, Tetra Laval, and MULTIVAC.
Among various geographies, APAC will be the fastest-growing region in the global market, and is expected to contribute revenues of around $12 billion by 2020. China, and India will emerge as the key revenue-generators.
“The growing use of robotic packaging machinery will gain prominence in the global food and beverage packaging machinery market. These machines are equipped with advanced monitoring and control capabilities to maintain packaging lines and reduce energy consumption. They offer various advantages such as reduced wastage of packaging materials, reduced factory footprint, and timely rectification of operational problems,” says Anju Ajaykumar, a lead analyst at Technavio for research on unit operations.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Emerging brewing industry in APAC
In 2015, APAC led the beer packaging market, and is anticipated to continue its dominance during the forecast period. Some of the major players in the beer packaging market in APAC are Ball, Owens-Illinois, Rexam, Graphic Packaging, Amcor, Smurfit Kappa, and Tetra Laval.
It is expected that the global beer packaging market will grow moderately during the forecast period with countries like Germany, the US, and China being the major contributors to the market. Besides these, the other countries such as Brazil, India, China and some nations in South America and Asia are expected to witness an increase in beer consumption. The key reason for the growth of the market is the introduction of lightweight beer bottles, which is a cost-effective and eco-friendly solution for beer manufacturers. Owing to the easy availability of low-cost skilled labor, China stands as the highest producer and consumer of beer in the world. These factors are expected to increase the demand for beer in APAC.
Upgrading of modular packaging machines
Manufacturers of plastic packaging machinery are impelled to introduce high-quality products to survive in an intensely competitive environment. To meet the production capacity due to the growing demand, packaging machinery with features such as integrated systems, enhanced automation, and shorter turnaround times are being introduced in the market. The demand for multi-functional systems is growing, as they are equipped with modified features such as high speed, increased efficiency, and high capacity. Modular packaging has various advantages such as it is flexible and cost effective, needs no maintenance, consumes less energy, comply with safety regulatory requirements, and low transpotation costs. Morever, it facilitates the integration of technology and digital information features that ensure seamless operations between multiple machines. The growing requirement for productive and economical packaging will boost growth in the market.
Growth in highly visible packaging
Highly visible packaging materials used to pack various food products, retail, and pharmaceutical, and are gaining prominence in developed economies, such as the US and Europe. These packaging designs allow customers to infer the quality and quantity of the packaged item, easily identify the brand, and differentiate products with their sense of sight. These products are tamper-proof, and child-resistant and protect the product from any damage. Few types of highly visible packaging models are tubs, clamshell packaging, cups, blister packaging, windowed packaging, skin packaging, and trays. The demand for high visible packaging has increased due to the rise in the disposable income of consumers, the presence of many retailers, and the growth of the pharmaceutical and food industries. Further, the factors such as enhanced protection criteria, advances in technology, and high demand for clamshell packaging are expected to push the growth of the highly visible packaging machinery market.
Some of the other prominent vendors identified in this report are ARPAC, Bajaj ProcessPack Limited, Combi Packaging Systems, Nichrome Packaging Solutions, Orbital Food Machinery, SAMA Engineering, Selo, Triangle Package Machinery, VELTEKO, and WeighPack Systems.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Food and Beverage Packaging Machinery Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Flexible Packaging Market for Food and Beverages 2016-2020
- Global Aluminum Foil Packaging Market 2016-2020
- Global Packaged Vegan Foods Market 2016-2020
- Global Packaged Food Traceability Market 2016-2020
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