Filling Machines Market Is Estimated To Witness High Growth Owing To Increasing Demand From Food & Beverage Industry
Market Overview:
Filling machines are automated equipment used for filling liquids, pastes, powders and granular products into containers and packages. They are widely used in food & beverage, pharmaceuticals, personal care and other industries for filling products into bottles, cans, jars, pouches and other packaging types. Key types of filling machines include rotary filling machines and piston/plunger fillers.
Market Dynamics:
The growth of the filling machines market is mainly driven by increasing demand from the food & beverage industry. The rapidly growing food processing industry worldwide, especially in developing regions, has boosted the demand for filling machines from players in the food & beverage sector for efficient filling of various products. According to the United Nations Food and Agriculture Organization (FAO), the global food processing industry was valued at over US$ 4 trillion in 2020 and is projected to grow at a CAGR of over 6% between 2020-2025. Secondly, the increasing penetration of aseptic filling technology is also fueling market growth. Aseptic filling enables longer shelf life of foods without preservatives and is thus gaining popularity among manufacturers and consumers.
The global Filling Machines Market Size is estimated to be valued at US$ 7.97 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Filling machines provide high productivity and efficiency in packaging operations. Their automatic functions reduce labor costs. They offer customizable filling speeds and volumes.
Weakness: Frequent maintenance and repairs of complex mechanical parts increase ownership costs. Troubleshooting technical errors requires skilled technicians.
Opportunity: growing demand for increasing packaging automation from food and beverage industries. Rapid expansion of e-commerce sectors driving need for varied package formats and volumes.
Threats: stringent regulations regarding food safety may require expensive product changes. Volatility in raw material prices increases unpredictability.
Key Takeaways:
The global filling machines market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing need for automation in packaging operations across industries. Robotics and internet of things solutions are enabling smarter production workflows.
Regionally, Asia Pacific dominated the market in 2023, accounting for over 35% revenue share. China, India, Japan and other developing economies are witnessing rising consumption of packaged food and drinks. Furthermore, expansion of local manufacturing capacities favors new equipment procurement.
Key players operating in the filling machines market are KHS GmbH, Tetra Pak International SA (Tetra Laval Group), Syntegon Technology GmbH, JBT Corporation, GEA Group Aktiengesellschaft, Sidel Group (Tetra Laval Group), Krones AG, Ronchi Mario SPA, Coesia Group, and Barry-Wehmiller Companies Inc. They focus on product innovation, digitalization and mergers&acquisitions for sustained leadership. The market remains fairly consolidated in nature.
Read More: https://blogger-veritas.blogspot.com/2023/12/internet-based-cloud-computing-is.html
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