By 2027, the packaging equipment market size is likely to measure at $50 billion, as per the findings of a report by Global Market Insights Inc. To cater to the rising demand across the global beverage industry, numerous industrial units across North America and Asia Pacific have been installing automatic bottle filling machines. Industrial packaging processes can be made faster and efficient when these machines are used. Minimum spillage, convenience, and elimination of human errors are responsible for the replacement of manual packaging processes with automatic ones.
“As per the estimates of a research conducted by Global Market Insights Inc, by 2027, the packaging equipment market size will be nearly $50 billion.”
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The surging volume of sales across e-commerce platforms is pushing the global packaging market forecast. Retail giants including Amazon and Walmart have been seeing a notable rise in the consumption of home essentials, food & beverages, and beauty & personal care products on a worldwide basis.
Rising preference for specialty papers to drive self-adhesive label consumption across Europe
With the expansion of the retail and logistics industry, the preference for greaseproof and waterproof labels and packaging solutions has been growing. As flexible packaging gains ground across European countries, use of specialty papers for labeling products is expected to rise. Packaging equipment market participants are launching products that the food & beverage sector can leverage in a sustainable way.
Mergers, acquisitions, and partnerships are becoming most common strategies adopted by industry participants. In February 2022, The Fedrigoni Group, an Italian leader in self-adhesives, announced that it has acquired Spanish company Divipa. With this move, the company will focus on enhancing its manufacturing capacity and creating synergies in procurement & production. This acquisition is the company’s fifth in the past two years in the self-adhesive industry.
Product launch is another key business tactic embraced by leading manufacturers of self-adhesive labels. In February 2022, BASF announced that it has launched two new label adhesives that do not interfere with the recycling process of cardboard and paperboard transport boxes.
Germany’s sustainability goals and climate neutrality ambitions have clearly been the major inspiration for the development of these labels, that can be peeled off easily before recycling. According to BASF, transport labels account for nearly 15% of European labeling industry share. The environmental impact of packaging solutions is garnering attention across the packaging equipment market, with private and public entities promoting a circular economy.
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Indian pharma packaging industry backed by government standards, presence of top brands
In the wake of the COVID-19 pandemic, the demand for pharmaceutical products across Asia-Pacific has been soaring. The glass packaging equipment industry in India is expected to grow steadily up-to 2027, because India ranks 3rd in global pharmaceutical production in terms of volume. Since the Indian pharmaceutical sector caters to nearly 50% of the global demand for vaccines, sales of liquid type filler machinery have been rising.
In terms of capping, the vial coating segment in Asia Pacific pharmaceutical packaging equipment market is witnessing considerable growth, backed by the presence of over 3,000 drug companies in India alone. Indian-based drug manufacturers such as Cipla, Sun Pharma, and Dr. Reddy’s Laboratories are among the top pharma brands across the world.
As per the data published by India Brand Equity Foundation (IBEF), the pharmaceutical market in India grew at a rate of 17.7% on an annual basis, as of August 2021. By 2024, the domestic pharmaceutical market will reach USD 65 billion, according to the Indian economic survey 2021. Evidently, the market has been attracting considerable investments in latest packaging technologies for ensuring high standards in quality.
The implementation of stringent packaging standards across the pharma industry is pushing the demand for semi-automatic and fully automatic capping machines. Use of this equipment ensures highest purity standards, eliminating the possibility of tampering or spills. Pharma companies are likely to invest in new vial coating machines because they are required in every genre of drug, fueling Asia Pacific packaging equipment industry forecast.