Secondary Packaging Equipment Category Intelligence
- Category Summary –Covid-19 Impact
- Pri cing Models
- Sourcing Practices and Engagement Opti ons
- Key Gl obal Suppliers
Global Market Size
Secondary Packaging Equipment Market Trend
Category Intelligence on Secondary Packaging Equipment covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
- Secondary Packaging Equipment Executive Summary
- Category Snapshot
- Regi onal Outlook
- Suppl y Landscape
- Recommendations for an ideal Category Strategy
- Category Opportunities & Ri sks
–Packaging Equi pment
- Impact of COVID-19 on Packaging Equipment
- Secondary Packaging Equipment Market Analysis
- Gl obal Market Overview on Packaging Equipment
- Gl obal Market Overview on Secondary Packaging Equi pment
- Gl obal Market Overview on Labelling Equipment
- Gl obal Market Overview on Cartoning Equipment
- Demand Analysis
- Industry Dynamics: Porter’s Analysis
- Indus try Drivers and Constraints
- Market Maturity
- Market Trends
- Regi onal Market Outlook
- Secondary Packaging Equipment Supplier Analysis
- Key Gl obal Suppliers
- Regi onal Suppliers
- Suppl ier Profile and SWOT Analysis: IMA, Coesia Group, Syntegon-Bosch Packaging
- Key Suppl y Base Activities
- Secondary Packaging Equipment COVID Impact
- Category Summary –Covid-19 Impact
- Covi d-19 Impact -Sourcing Location Watch
- Covi d-19 Impact -Supplier Watch
- Covi d-19 Impact -Industry Watch
- Secondary Packaging Equipment Technology and Innovation Framework
- Indus try 4.0-Overview
- Regi onal Adaption
- Industry 4.0 Technologies
- Secondary Packaging Equipment Market Monitoring Insights
- Pricing Models
- Price Trends and Forecast on 1. Aluminum 2. Copper 3. Stainless Steel 4. CRC
- Secondary Packaging Equipment Procurement Best Practices
- Sourcing Practices and Engagement Options
- Sourcing Destination Analysis
- Payment Terms
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Industry Outlook & Drivers
Regional Outlook-Secondary Packaging Equipment
The global market size for secondary packaging equipment was estimated at US $12.96 Billion in 2019 and is projected to grow at a CAGR of 5.3%, to reach a market size of US $17.67 Billion by 2025
Asia-Pacific growth rate is expected to be dominant geographical market for the packaging machinery market due to the presence of a large number of food & beverage and personal care product manufacturers in the region.
The global market size for packaging equipment was estimated at US $47.87 Billion in 2019 and is projected to grow at a CAGR of 5%, to reach a market size of US $64.28 Billion by 2025Product sales will be driven by market growth in China and other industrializing nations, where demand for processed food andbeverage products and other manufactured goods is expected to post the strongest increases as personal incomes and consumer spending rise. This is expected to result in additional investment in new manufacturing capacity and related packaging machinery across multiple geographies, to meet consumer demand of packaged goods
Some of the significant factors impacting the global packaging machinery market include development of innovative and energy efficient packaging machinery, increasing usage of automation in the packaging industry, rise in global consumption of consumer goods, increasingusage of vacuum packaging machines, Eurozone economic uncertainty, and stringent government regulations
Growing urbanization, ready to eat foods and attractive packaging of food & beverage products are the major factors boosting thedemand for packaging equipment
FDA regulations, enabling the market growth: The labeling equipment market which occupied a 14% market share in 2018-19, is expected to witness a strong growth in the near future owing to stringent regulations (serialization), imposed by Food & Drug administrationauthorities, worldwide, that demands companies to label their products accurately.
Demand Analysis –Secondary Packaging Industry
Food and beverages, together, was estimated to contribute to around 58 percent of the global packaging machinery market in 2018. This is because, technological advancements and trends in the packaging industry are highly influenced by the end-users of the food and beverages industry alone
Global food industry captures the highest demand for packaging equipment. This is because, economic development is creating busy lifestyles and this is fueling the growth for convenience, but as consumers become more health conscious, there is a growing demand for both convenient and healthy options. This is driving investment in packaging machinery as a whole, which results in investing in new lines and machines. Also, consumers have become more interested in attractive labelled products, so the demand for labeling & sleeving equipment is on the rise.
The stringent regulations, imposed by the FDA, toward mandatory labeling, which contains the details of the products, also aids the industry growth–The beverage industry is mature in North America and Western Europe and it is growing significantly across emerging markets of South America and Asia Pacific. This industry is heavily influenced by trends—mainly portion size, attractive labeling, product information etc. As a result, the market for packaging equipment is expected to rise in the near future
The pharmaceutical industry holds a healthy growth rate, owing to the fundamental need of basic medicines for the ageing population along with an increasing use of disposable medical devices and increased investments for medical apparatuses in developing regions. With increased investments in health care options across matured and emerging regions, the pharmaceutical industry is subjected to less economic fluctuations. The Drug Quality Security Act (DQSA) is also compelling companies to change their supply chain processes and adopt the new labeling standards.
Global Secondary Packaging Market Drivers and Constraints
Changing consumer needs:
- The global economy especially in developing countries is witnessing a rise in disposable incomes which results in a higher demand for a wide range of packaged goods. So, a diversification of consumer needs in relation to the packaging quality and functionality acts as an additional catalyst for the packaging machinery market
Growing technological advancements in machines:
Machine sales is also fostered by growing technological advancements in packaging equipment that are process/cost efficient and adding to sustainability. Multifunction machines and machines with quick changeovers are becoming more common, and companies in recent times are procuring new machines to make their process efficient. This trend is likely to take upper hand in near future
Increasing cost of equipment:
- The cost of high tech and customized packaging machines have risen in recent years. Replacement and spare parts sales make up to 20% of the total market, but lack of channel partners weaken the sales network in emerging regions
Rising input costs:
- As the packaging needs across user groups and geographies are varying rapidly, the machines are also being customized to meet the needs of changing consumer preferences. However, with catering to these needs, various input costs such as, raw material costs, labor costs, energy and power costs etc. are also rising significantly. As a result, buyers in the packaging machinery market have to constantly look for machines that optimizes power consumption to meet the emission standards and also automate the processes to spend less on labor etc.
Secondary Packaging EquipmentMarket Frequently Asked Questions
- What is the size of the global secondary packaging equipment market?
- The global secondary packaging equipment market size was US$12.96 Bn in 2019 and is expected to reach US$17.67 Bn value by 2025, growing at 5.3% CAGR.
- What are the current trends in the global secondary packaging equipment market?
- Rising deployment of automation in the packaging industry, development of innovative and energy-efficient packaging equipment, increasing global consumption of consumer goods, increasing reliance on vacuum packaging machines, and uptight regulatory environment are some of the current trends impacting the global secondary packaging equipment market.
- What is driving the installment of secondary packaging equipment in the pharmaceutical industry?
- The installment of secondary packaging equipment in the pharmaceutical industry is increasing at a healthy growth rate, given the basic need for essential medicines and drugs for geriatrics and the rising use of disposable medical devices.
- How is the equipment cost affecting the stakeholders’ bottom lines?
- The cost of high-tech and customized packaging equipment has increased over the recent past. While replacement and spare components sales account for 20% of the overall market, the lack of channel partners dilutes the sales network in the emerging regions.
- How is technology helping secondary packaging equipment manufacturers?
- Tech-based advances improve the overall operational and cost efficiency, thus promoting sustainability. Further, multi-purpose equipment and machines with rapid changeovers are gaining more momentum. As such, several companies are procuring innovative secondary packaging equipment to optimize their manufacturing processes.
- Which industry is the major end-user of the secondary packaging equipment?
- About 6 out of 10 secondary packaging equipment find usage in the food and beverage (F&B) industry. Increasing consumption of ready-to-consume products and heightening consumer awareness regarding packaging quality and functionality are driving this trend.