Packaging Machinery Market to Witness Steady Growth at 4% to 5% CAGR By 2025 by MGA Study
Thursday, August 08, 2019
Press release from the issuing company
According to the Food and Agriculture Organization of the United Nations (FAO), one-third of the food produced in the world (or 1.3 billion tons) gets wasted. Furthermore, these food losses amount to the loss of a whopping $680 billion in developed countries and $310 billion in the developing countries. To ameliorate this situation, food preservation or using packaged food has become an absolute necessity, which, in turn, is propelling the packaging machinery market which had a global market size of $39 billion to $40 billion according to the market research report by IndustryARC’s analyst. Moreover, the analyst estimates the packaging machinery market growth to be 4% to 5% over the course of forecast period 2019-2025.
Packaging Machinery Market Key Segments
The global packaging machinery market is segmented on the basis of type, end-use industries, and geography.
Food & Beverage
Asia Pacific is estimated to lead over the forecast period with China occupying the largest regional market share. Rapidly growing population in China, expanding Chinese middle class, increasing household disposable income, concern about environment friendliness which has led to the increase in demand for more sophisticated packaging. In addition, the Chinese government’s policies encouraging domestic consumption, energy saving, and environment friendliness coupled with technology and equipment upgrade is expected to drive the market growth. Moreover, the booming e-commerce industry has further increased the demand for both primary and secondary packaging.
Europe consists of major countries including Russia, Spain, Germany, Italy, and U.K., among other Eastern and Central European countries. In terms of revenue, Europe was the second largest region in 2018, owing to high demand for highly automated, flexible, and efficient packaging machinery from several major end users including food, beverage, chemicals, personal care, pharmaceuticals, and others.
Key players operating in the packaging equipment market are Aetna Group, Adelphi Packaging Machinery, B&H Labelling Systems, Bosch Packaging Machinery, Barry-Wehmiller Companies, Inc., CKD Group, Bradman Lake Group, Fuji Machinery Company, Coesia Spa, Harland Machine Systems Ltd., Krones Group, Illinois Tool Works, and GEA Group, among others.
Visit More Information: http://www.marketgrowthanalysis.com/reports/sample/179
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