Due to the rising demand throughout the course of the projected period, a CAGR of 5% is anticipated for the worldwide cartoning machines market. It is projected to increase in value from US$ 4,522 Mn in 2022 to US$ 7,366 Mn by 2032.
As trade and commercial ties between the two nations grow as a result of globalisation and government rules on the packing and transportation of goods, the market for cartoning machines is projected to grow. On the other hand, fresh upcoming entrepreneurship and import-export business ideas are expected to accelerate market growth.
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.
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Competitive Landscape of the Cartoning Machines Market
The major market players are focusing on launching company-dedicated websites for their customers, across the globe. This is to improve their product quality, reduce resource consumption, particularly for the pharmaceutical industry. It also aids in expanding their product portfolio to consumers in farther regions.
Some of the recent developments in the cartoning machines market are:
- In August 2018, Robert Bosch LLC launched kliklok midrange endload cartoner designed for food safety standard and maximum production levels that can pack up to 170 cartons per minute.
- In July 2019, Douglas Machine Inc. introduced ‘Axiom IM case packer’ that has speeds up to 34 cases per minute for packaging frozen food cartons.
KEY MARKET PLAYERS OF THE CARTONING MACHINES MARKET
- Pakmatic Company (PTY) LTD.
- Betti s.r.l.
- Bivans Corporation
- Trustar Pharma & Packing Equipment Co. Ltd.
- Engelmann & Buckham Ltd.
- Molins Group
- EconoCorp Inc.
- Robert Bosch GmbH
- Tetra Pack International S.A
- ACG Worldwide
- Langley Holdings PLC
- Marchesini Group S.p.A.
- Jacob White Packaging Ltd.
- ADCO Manufacturing
- Triangle Package Machinery Co.
- PMR Packaging Inc.
- Packaging Equipment Inc.
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Keep track of the Market’s Main Drivers for Cartoning Machines
The desire for creative packaging solutions has increased recently. Additionally, there is a significant need for affordable equipment. These are the main factors that will probably encourage the expansion of the market for cartoning machines.
In order to address environmental concerns, consumers now want robust packaging that is also recyclable. Additionally, consumers like packaging that is more creatively organised. This is additionally anticipated to support market growth.
Clinical product storage needs to be strong in the healthcare sector. As a result, the demand for cartoning machines in the healthcare sector has been quite high, which in turn drives the rise of the market share.
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.
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