Future Market Insights
The global packaging industry is driven by the demand for better and convenient packaging. Globalization has eliminated all barriers and increased transit distance and time for products. Protective packaging ensures the safety of the product throughout the supply chain. Cartons are one such protective packaging solution. High demand for such packaging has led to the need for increased production of carton. Automation has transformed the global manufacturing industry and is expected to show a steady growth rate, with more companies switching to automated production units with minimal human intervention. This creates a plethora of opportunities for the global cartoning machine market. Cartoning machines are packaging systems which erect, close and erect, fill and seal carton blanks or folded and side seam sealed cartons. The cartoning machine market is expected to grow on the backdrop of the carton packaging market, and the FMCG industry. Innovation in the industry has led to many patents in the cartoning machine market, which in turn makes the market competitive and paves the way for key players in the market to innovate. The end-use industries for cartoning machines include the likes of food & beverages, and the pharmaceutical industry, both of which are growing rapidly in developing areas, thereby creating a positive outlook for the cartoning machine market.
Cartoning Machines: Market Dynamics
Increasing logistics and e-commerce has led to a high demand for the cartoning machines market. Cartons are extensively employed for the transportation of the product to different places for safe transit. Cartons have an increasing demand from food & beverages segment especially for the storage of non-carbonated beverages. The above factors cumulatively are driving the global cartoning machines market. The presence of packaging types other than cartons is gaining traction among the end users which is one factor restraining the growth of the global cartoning machines market. Innovation such as integrated barcode systems and vision system is a key trend prevailing in the global cartoning machines market.
Cartoning Machines: Market Segmentation
The global cartoning machine market is segmented on the basis of machine type, end use, packaging material, and geography. On the basis of machine type, the global cartooning machine market is segmented into vertical cartoning and horizontal cartoning machines. Vertical and horizontal cartoning machines are further sub segmented into manual, semi-automatic, and automatic cartoning machines. On the basis of end use, the global cartoning machine market is segmented into food & beverages, pharmaceuticals, cosmetics & personal care, and others. On the basis of packaging material, the global cartoning machine market is segmented into paperboard and corrugated fiberboard.
Cartoning Machines Market: Regional Outlook
On the basis of geography, the global Cartoning Machines market is segmented into North America, Latin America, Asia Pacific, Middle East & Africa, and Europe. Asia Pacific is currently leading the cartoning machines market due to extensive industrialization and increasing food & beverages industry. Cartoning machines are extensively used by the logistics sector in the region. North America is expected to exhibit sluggish growth due to mature industries in the region. Growing e-commerce in Europe is expected to spur the demand of cartoning machines and the region is expected to witness steady growth. Latin America is anticipated to witness stagnant growth over the forecast period as the region is ongoing an economic recession and there are not much innovations taking place in the region.
Cartoning Machines Market: Key players
Some of the key players operating in the global cartoning machines market are EconoCorp Inc., Robert Bosch GmbH, ACG Worldwide, Langley Holdings PLC, Pakmatic Company (PTY) LTD, Betti s.r.l., Bivans Corporation, Trustar Pharma & Packing Equipment Co., Ltd., Engelmann & Buckham Ltd., and Molins Group.
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