According to a new market research report published by Credence Research “Cartoning Machines Market (By Machine Type (Top-Load, End-Load, Wrap-Around), By Capacity (0-70 CPM, 70-150 CPM, 150-400 CPM, More than 400 CPM), By Orientation (Horizontal, Vertical), By Dimension (0-200 CM3, 200-1000 CM3, 1000-5000 CM3, 5000-1000 CM3, More than 10000 CM3), By End-Use ( Food and Beverages, Healthcare, Personal Care, Homecare, Electronics)), – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall cartoning machines market worldwide was valued at US$ 4.67 Bn in 2018 and is set to grow with 5.9% CAGR during the forecast period.
Globalization has removed all barriers and increased transit distance and time for products. Cartons are protective packaging solutions which ensures safety of the product throughout the supply chain. In 2018, the global packaging industry was valued at more than US$ 800.0 Bn and increasing with more than 2.7% every year. Technological advancements such as design improvements, capacity expansion and automation are the major growth drivers for cartoning machines market. Proliferating food & beverages and healthcare sector is among the most significant factors supporting the cartoning machines market growth. As a result of, we are expecting high growth in the cartoning machines market during the forecast period.
Based on end-use, food & beverages segment is the leader in cartoning machines market with more than 36% of the market share. Food & beverages segment is the leader due to growing FMCG market around the globe with more than 3.6% every year. In cartons the product is safe and easy to carry as compared with plastic bags and paper bags. Worldwide increase of exports for FMCG products is also driving the growth for cartoning machines market. The healthcare segment will grow with the highest CAGR during the forecast period on account of rising expenditure on healthcare and personal care products. Due to all these factors, food & beverages segment will continue leading the cartoning machines market throughout the forecast period.
Based on the geography, in 2018, Asia Pacific was the leader in cartoning machines market with more than 37% of the market share worldwide. India and China are expected to remain the growth engines for cartoning machines market in Asia Pacific. The region will grow substantially due to rise in packaging industry in the region. On account of extensive industrialization and growth in food and beverages sector in developing economies such as China and India, the Asia Pacific region will continue growing with high CAGR during the forecast period. Further, rise in e-commerce industry in the region is also driving the growth for cartoning machines. As a result of all these factors, we are expecting high growth in the region throughout the forecast period.
Major market players are focusing on strategies such as new product development to improve their market position. For example, in 2016, IWK Verpackungstechnik GmbH introduced world’s fastest cartoning machine which can make 1000 cartons per minute. Feature enhancement is expected to remain key strategy in the market in years to come. Some of the major companies profiled in the report include Econocorp Inc, Robert Bosch GmbH, ACG Worldwide, Pakmatic Company (PTY) LTD, Betti s.r.l., Bivans Corporation, Engelmann & Buckham Ltd., Molins Langen, Omori Machinery Co. Ltd., OPTIMA Packaging Group GmbH, IWK Verpackungstechnik GmbH, ROVEMA GmbH, IMA Industria Macchine Automatiche SpA and others.
Browse the full report at https://www.credenceresearch.com/report/cartoning-machines-market
The Global Cartoning Machines Market is Segmented into:
|Segmentation||By Machine Type (2019–2027; US$ Bn)|
|By Capacity (2019–2027; US$ Bn)|
|By Orientation (2019–2027; US$ Bn)|
|By Dimensions (2019–2027; US$ Bn)|
|By End-Use (2019–2027; US$ Bn)|
|By Geography Segment (2019–2027; US$ Bn)|
*Complete segmentation list is on report page