Newark, NJ, July 23, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global beverage carton packaging machinery market is expected to grow from USD 975.34 million in 2019 and to reach USD 1408.41 million by 2027, growing at a CAGR of 4.7% during the forecast period 2020-2027.
The beverage carton packaging machinery market has witnessed impressive growth over the years. The increasing environment degradation has been a significant factor for the growth of the market in these years. The changing lifestyle has changed the preference of consumers in many ways. Apart from this, ready to drink beverages are being increasingly demanded, which has raised the demand for carton packaging machinery. The cartons produced by the machines are better and viable than the plastics which cause much harm to the environment.
Cartons are biodegradable boxes made up of paperboard or corrugated fibreboard. The beverages cartons are lightweight and robust. It is considered safe for storing liquids as it protects the moisture. The carton packaging machines are gaining much popularity owing to the benefits they provide during the packaging process. These machines are available in different types for packaging of varied kinds of cartons and can be customized according to the requirements. The end-user industry can choose based upon the speed specifications, style of packaging, the supply of packages, safety features, etc.
The increasing focus on the convenience of the consumers has pushed the manufacturers to opt for carton packaging machines for accelerating the process of packaging. The growing economies have a higher demand for all kinds of beverages, especially dairy beverages and alcohol like wine. The increasing disposable income coupled with growing disposable income of the consumers is a major driving factor for the market. Apart from this, the ill-effects of plastic have proved to be an opportunity for the carton packaging machinery market. Further, the manual cost of carton packaging has pushed the manufacturers to move to an automated system which reduces the cost and also saves up the time. However, the initial cost of setting up the machinery is hampering the market growth. The small scale companies operating in beverages industries are not capable of installing the high-cost machines. Also, the lack of skilled labour force in the market is proving to be a challenge for further market penetration.
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Key players operating in the global beverage carton packaging machinery market include Bosch Packaging Technology, Langfang Best Crown Packing, Mitsubishi Electric, Econocorp, KHS, Jacob White Packaging, Krones, ACG Worldwide, GPI Equipment, Bradman Lake Group Machinery and others. To gain the significant market share in the global beverage carton packaging machinery market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Bosch Packaging Technology and Mitsubishi Electric are some of the biggest manufacturers and suppliers of beverage carton packaging machinery in the global beverage carton packaging machinery market.
- Recently, in July 2020, KHS has announced a new feature of its high-tech machine Innopack Kisters. The machine can now quickly wrap up the beverages and foods can in the paper which can be used to shrink the wrap around cartons.
Automatic mode dominated the market and held the largest market share of 69.31% in the year 2019
The mode of operation segment of the beverage carton packaging machinery market is classified into automatic and semi-automatic. Automatic mode dominated the market and held the largest market share of 69.31% in the year 2019. The manufacturer prefers to install automatic machines as they are cost-effective. It helps to reduce the operating costs as well as cuts off the labour cost. The automatic mode of operation eliminates the need for continuous monitoring of the machine. Further, it improves the level of safety for the manpower. Moreover, it is efficient than semi-automated machinery. It guarantees minimal wastage and more output.
Horizontal end side load dominated the market and held the largest market share of 37.42% in the year 2019
On the basis of type, the beverage carton packaging machinery market is classified into top-load, horizontal end side load, vertical sleeve, vertical leaflet and wraparound. Horizontal end side load dominated the market and held the largest market share of 37.42% in the year 2019. The horizontal end side load is majorly used for bulk production of cartons. The attractive feature of this type is that it can automatically attain higher speed in the applications which deal with a more excellent supply of quantity.
Dairy beverages dominated the market and held the largest market share of 37.42% in the year 2019
The application segment is categorized into dairy beverages, alcoholic beverages and non-alcoholic beverages. Further, the non-alcoholic beverages also include sports drinks, carbonated soft drinks and bottled water. Among the mentioned segments, dairy beverages dominated the market and held the largest market share of 38.53% in the year 2019. The growth of the dairy industry, coupled with the increasing demand for safe packaging of dairy products, has led to the market growth
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Regional Segment Analysis of the Beverage Carton Packaging Machinery Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global beverage carton packaging machinery market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia-Pacific region accounted for the significant market share of 34.71% in the year 2019. The growth can be attributed to the expanding food and beverages industry. Further, the growing per capita income and increasing awareness among local consumers have resulted in market growth. Moreover, North America is expected to grow at a significant rate during the forecast period. The rising standard of living has increased the demand for ready to drink beverages which are resulting in the growth of the market.
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About the report:
The global beverage carton packaging market is analyzed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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