Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Liquid Filling Machines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The liquid filling machines market is expected to grow at a CAGR of 4.57% during the forecast period. Rapid technological advancements and penetration of automated machinery in various industries to minimum human intervention and stringent government regulations for the safety of the production lines are driving the growth of the liquid filling machines market.
Key Highlights
Changing lifestyle, convenience of consumption and increased health awareness are driving the demand for packaged and processed food which in turn is compelling the growth of the liquid filling machines. These are employed to ensure safe, efficient, cost-effective, packaging of liquids, like syrup, oil, wine, ketchup, beer, water, etc. For instance, the total retail and foodservice sales in the United States during FY2018 stood at USD 6.02 trillion and rose by USD 0.25 trillion, as compared to the previous year, according to the US Census Bureau.
Moreover, according to the USDA Foreign, Agricultural Service studies 2019, the expected sales growth of packaged food in Canada between 2017 and 2022 may be driven by sweet biscuits, snack bars, and fruit snacks with 19.8% growth followed by spreads, edible oil, dairy with 15.8%, 13.8%, and 12.3% respectively. Additionally, according to the same study, the import of packaged food in 2018 was CAD 24.8 billion.
Furthermore, the rising consumer awareness regarding personal grooming is driving the demand for cosmetic products which in turn is driving the market studied. The face serums and oils have witnessed demand over the past five years, as they offer hydration, moisturization, anti-aging, blemish clearing benefits, and skin repair, among others. These premium products have been witnessing demand among the aging population.
The filling of cosmetic products such as perfumes, cremes, gels, mascara, and lip gloss requires precision, accuracy, and zero wastage and thus are dependent on modern liquid filling machines with stoppering or sealing features. Therefore, these are in great demand among the cosmetic manufacturers for its versatile features.
However, high initial investments, and training the company personnel to operate these machines, are few drawbacks, which act as restraints during the forecasted period.
Liquid Filling Machines Market Trends
Healthcare Industry Will Experience a Significant Growth in Forecast Period
The pharmaceutical industry is growing at a rapid rate with frequent new research and developments. Most of the pharmaceutical drug manufacturers are investing in developing drugs to broaden the variety of products in their portfolios, which is expected to fuel the market in the future.
The ongoing research and development in medical science have generated the needs of advanced machinery for bulk drug production, processing, and packaging. Most of the major vendors in the market are advancing their offerings to seize the opportunity.
Asia-Pacific to Witness Fastest Growth
Rapidly growing population, rising income of the people is estimated to increase the demand for packaged products in the food and beverage industry, which will contribute to the growth of the liquid filling machines.
Moreover, the Government of India has been instrumental in the growth and development of the food processing industry, which accounts for 32% of the country's total food market. The Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business also it has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100% export-oriented units.
The region is also experiencing high demand for skin care and particularly luxury products, as stated by L'Oreal. It is favored by the rising disposable income of consumers, the trend of online shopping, coupled with an increasing consumer base of people interested in personal hygiene and physical appearance. This is supported by highly populated countries, like India and China, and so most of the cosmetic brands are setting up their manufacturing units in the region and launching their products.
Liquid Filling Machines Market Competitor Analysis
The liquid filling machines market is concentrated due to the presence of a few major players like Bosch Packaging Technology, GEA Group AG, JBT Corporation, Filling Equipment Co Inc., and Krones Group AG.
These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
A selection of companies mentioned in this report includes
- Bosch Packaging Technology
- GEA Group AG
- JBT Corporation
- Filling Equipment Co Inc.
- Krones Group AG
- Tetra Laval International SA
- Scholle Packaging
- E-PAK Machinery Inc
- Coesia Group SpA
- KHS GmbH
- Ronchi Mario SpA
For more information about this report visit https://www.researchandmarkets.com/r/vanfuq
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