The global filling machine market is set to gain impetus from the increasing demand for single portion and convenience food products. Besides, many industry giants are currently aiming to satiate the growing demand from their diversified customer base by enhancing the packaging formats. This information is given by Fortune Business Insights™ in a recent report, titled, “Filling Machine Market Size, Share & Industry Analysis, By Type (Liquid Filling, Solid Filling, Powder Filling and Other), By Application (Food Products, Beverages, Chemicals & Pharmaceuticals and Others) and Regional Forecast, 2020-2027.” The report further mentions that the filling machine market size was USD 5.38 billion in 2019 and is projected to reach USD 7.03 billion by 2027, exhibiting a CAGR of 3.4% during the forecast period.
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This Report Answers the Following Questions:
• Which region is set to lead the market by gaining the highest revenue?
• How many growth drivers does the market have?
• Which segment is expected to dominate the market in the coming years?
• What is the competitive scenario of the market?
Drivers & Restraints-
Need for Multi-Function Filling Machine to Propel Growth
Modularity and standardization are considered to be very crucial for the success of the packaging industry as they aid in setting specific standard packaging processes with several applications. Many multinational filling equipment manufacturers nowadays are adopting the strict norms and regulations implemented by the governments of various countries. They are also using standardized machinery. These machineries help in delivering rational purchasing activity and low price to the end users. It further results in the achievement of safety standards set by the regulatory bodies globally. The demand for multi-function filling machine is surging as they can perform labeling, sealing, filling, and moulding process altogether. These factors are anticipated to propel the filling machine market growth. However, the packaging companies are presently facing extensive economic losses owing to the outbreak of Covid-19 pandemic. It may obstruct the market growth.
Segment-
Beverages Segment to Grow Steadily Stoked by High Demand for Pasteurized Milk
In terms of application, the market is fragmented into chemical & pharmaceuticals, beverages, food products, and others. Out of these, the beverages segment 28.8% filling machine market share in 2019 owing to the increasing demand for pasteurized milk and packaged beverages in the developing and developed nations worldwide. Apart from that, numerous people residing in the developed nations consume packaged distilled water infused with a variety of healthy minerals. It would also aid growth of this segment, thereby surging the demand for these machines.
Regional Analysis-
Increasing Population to Favor Growth in Asia Pacific
Asia Pacific held USD 1.73 billion revenue in 2019. This growth is attributable to the rising demand for packaged distilled water in countries, such as South Korea, Japan, and China. Also, in the developing countries, such as India and China, the population is growing at a fast pace. It is thereby surging the working population as well. It is further resulting in the high consumption of packaged food items, as well as personal care products.
Europe, on the other hand, depends mainly upon tourism. However, it is likely to decline in the coming years because of the negative effects of the Covid-19 pandemic. Tourism often boosts the demand for convenience products owing to the needs of the international tourists. This deadly pandemic is set to affect North America, too. The market in the Middle East and Africa is anticipated to grow progressively fueled by the rising development projects implemented by the governments.
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Expand Their Businesses
Numerous companies are striving to keep up with the changing consumer preferences. They are opting to develop small portion packaging of cosmetics, food, and beverages to cater to the growing demand and strengthen their positions. Some of them are also adopting the strategy of mergers and acquisitions to accelerate growth. Below are two of the significant industry developments:
• May 2019: JBT Corporation unveiled its new AsepFlex filler. It is best suited for offering hygienic and travel-friendly pouch packaging for on-the-go health drinks, infant nutrition products, and sports drinks. The filling machine consists of the nitrogen dosing system to lower the levels of oxygen in the pouches for surging the shelf-life of the products.
• July 2017: PLF International was acquired by JBT Corporation and the total deal was worth USD 37 million. This would help in broadening the former’s business and strengthen its position in the market.
Fortune Business Insights™ provides a list of all the filling machine manufacturers present in the market. They are as follows:
• Syntegon Technology GmbH (Bosch Packaging Technology) (Waiblingen, Germany)
• GEA Group Aktiengesellschaft (Dusseldorf, Germany)
• JBT Corporation (Illinois, United States)
• Tetra Laval (Pully, Switzerland)
• KHS GmbH (Dortmund, Germany)
• Krones AG (Neutraubling, Germany)
• Coesia Group SpA (Bologna, Italy)
• Ave Technologies (Venice, Italy)
• Ronchi Mario S.p.A. (Milan, Italy)
• Barry-Wehmiller (Missouri, United States)