Market Research Blog

The adoption of medical device packaging solutions has witnessed a substantial rise, due to the rise in demand for flexible packaging and microbial packaging worldwide. Additionally, increasing efforts by governments in various countries, especially in developing regions such as South and East Asia, to provide basic healthcare facilities to the middle-class group is estimated to create substantial demand for the medical device packaging solutions.

Moreover, the rising demand for monitoring & diagnostic equipment to treat severe chronic diseases globally is contributing to the market growth of medical device packaging.

The medical device packaging market is anticipated to register an impressive CAGR of 5.3% annually through 2027.

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Key Takeaways of Medical Device Packaging Market Study

• By application, disposable consumables are anticipated to capture nearly half of the market share during the next eight years. The rapidly rising demand for medical device packaging solution to pack and seal variety of disposable consumables such as needles, syringes, and wraps contributes significantly to the market growth.
• Bags & pouches and clamshell blister packs are projected to dominate the global device packaging market and hold nearly 2/3rd portion of the market share at the end of 2027.
• By raw material segment, Polyethylene (PE) plastic enjoys a consistent demand for manufacturing medical device packaging solutions, owing its key benefits such as pricing efficiency, light weight, and recyclability.
• North America and Europe are expected to account for a significant portion of the medical device packaging market share. Rapid expansion of healthcare industry in these regions is driving the growth of medical device packaging market in these regions.

“Manufacturers of medical device packaging can achieve significant profits by targeting APEJ and Europe regions, attributable to the rising demand for flexible medical packaging solutions in diagnostic centers, hospitals, and research institutes in these regions,” says FMI analyst.

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Green Packaging Gaining Traction in Medical Device Packaging Market

Prominent medical device packaging manufacturers are recognising the necessity of sustainable and cost effective packaging solutions. Prominent manufacturers across the globe have already shifted their focus towards sustainable packaging, especially towards flexible packaging, to reduce the carbon footprints released by various medical device packaging solutions.

Along with that, the rising trend of “green design packaging”, especially in the healthcare and pharmaceuticals industry, is ultimately contributing to the growth of the medical device packaging market. Moreover, these leading medical device packaging manufacturers are enhancing its manufacturing capabilities by expanding production units.

For Instance, April 2022, Amcor plc., launched AmLite, an ultra-recyclable and high-barrier flexible packaging solution for the pharmaceuticals and healthcare industry. The company reports that this newly developed packaging solution can reduce a pack’s carbon footprint by up to 64%.
For instance, In November 2022, Nelipak Corporation, another manufacturer of medical device packing has expanded its manufacturing operations in Humacao, Puerto Rico. This enabled the company to strength its manufacturing capabilities and effectively cater to the end user demand.

About The Medical Device Packaging Market Report
Future Market Insights, in its new offering, offers an unbiased analysis of the global medical device packaging market, analyzing historical demand from 2012-2021 and forecast statistics for 2022-2027. The study provides growth projections on the medical device packaging market on the basis of packaging type (bags & pouches, containers, trays, stick packs, clamshell blister packs, boxes and other (flow wraps etc.), raw material (PE (HDPE, LDPE & LLDPE), PET, PP, PS, PVC, aluminium, glass, paper laminates, fabric and others (PLA, PHA etc.), application (disposable consumables, monitoring & diagnostic equipment and therapeutic equipment), end user (medical manufacturing, contract packaging and others), across seven regions.

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Key Segments Covered in Medical Device Packaging Industry Research

Medical Device Packaging Market by Packaging Type:

• Bags & Pouches
• Containers
• Trays
• Stick Packs
• Clamshell Blister Packs
• Boxes
• Others (Flow Wraps etc.)

Medical Device Packaging Market by Raw Material:

• PE
  • HDPE
  • LDPE
  • LLDPE
• PET
• PP
• PS
• PVC
• Aluminium
• Glass
• Paper Laminates
• Fabric
• Others (PLA, PHA etc.)

Medical Device Packaging Market by Application:

• Disposable Consumables
• Monitoring & Diagnostic Equipment
• Therapeutic Equipment

Medical Device Packaging Market by End-user:

• Medical Manufacturing
• Contract Packaging
• Others

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The worldwide marking and coding equipment market is assessed to esteem at US$ 1.3 billion out of 2022 and is projected to arrive at US$ 1.8 billion by 2027, at a CAGR of 5.6%.

A new market research report entitled Marking and Coding Equipment Market Size, Share, Growth, Industry Trends, and Forecast, done by our exploration group portrays the far reaching and cooperative investigation of industry during past, present, and conjecture periods. The report decides memorable development investigation and current situation of Marking and Coding Equipment Market place and expects to offer noteworthy experiences on worldwide market development projections.

The report sheds light on all the industry verticals like competitive market scenario, regional presence, and development opportunities. The next part covers the Marking and Coding Equipment Market competition landscape based on revenue and growth rate. Further, it explains market types, applications, and price analysis.

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The market is estimated to witness a 1.7x increase in revenue from 2017 to 2022. By 2017 end, the global marking and coding equipment market is expected to be valued at around US$ 1 Bn and is projected to reach a value of more than US$ 1.8 Bn by the end of 2027.

The global market is anticipated to reflect a CAGR of 5.6% throughout the period of forecast (2022-2027). The research report on the global marking and coding equipment market reveals the influence of various trends, challenges and drivers on the growth of the global market across key regions namely North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).

Global Marking and Coding Equipment Market: Competition Assessment

This fact based research study on the global marking and coding equipment market includes a detailed analysis of various companies participating in the global market such as Hitachi America, Ltd., Videojet Technologies, Inc., Markem-Imaje Corporation, Domino Printing Sciences plc., Interactive Coding Equipment (ICE), TYKMA Electrox, Inc., Squid Ink Manufacturing Inc., ATD Ltd., Open Date Systems, Inc., MACSA ID S.A, RN Mark Inc., Diagraph Corporation, Linx Printing Technologies, Numeric Marking Systems, Control Print Ltd., Durable Technologies, REA Elektronik GmbH, Matthews International Corporation, INKJET, Inc., and KGK Marking Technologies Group.

An in-depth market segmentation has been carried out to cover every angle of the market in order to portray a realistic market scenario. The report reflects historical data, current market scenario as well as future market estimates for a period of 10 years from 2022 till 2027.

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Global Marking and Coding Equipment Market: Factors Influencing Growth

Factors such as a positive retail sector outlook, seamless integration with active packaging solutions, rising demand from the chemical packaging industry, new product launches, advancements in laser marking technology, high growth in the food industry and increasing use of marking and coding equipment in the building and construction material industry across the globe are expected to fuel revenue growth of the global marking and coding equipment market.

Few aspects such as political crisis, intense competition, high cost of consumables and uneven size package coding leading to increased cost are anticipated to pose hindrances to the growth of the global marking and coding equipment market.

Global Marking and Coding Equipment Market: Vital Forecast Highlights

The global marking and coding equipment market is expected to grow at a CAGR of 5.5% throughout the period of forecast and is estimated to reach a value of US$ 1770 Mn by the end of the assessment year.

Global Marking and Coding Equipment Market: Analysis of Various Segments

The global marking and coding equipment market has been segmented by technology type, by application type, by end use and by region.

• By technology type, the continuous inkjet printer segment is the largest with respect to market value and dominates the global market. On the other hand, laser coding systems have gained high traction and this is the second largest segment, projected to grow at the highest rate to register a CAGR of 6.5% during the forecast period.
• By region, Asia Pacific excluding Japan (APEJ) is the most attractive and the marking and coding equipment market in this region is estimated to reach a high value of around US$ 710 Mn by 2027 end.
• By application, the rigid packaging segment is likely to dominate the global market with a higher market share in terms of both value and volume in the years to follow. The flexible packaging application segment is projected to grow at 5.8% CAGR during the 2022 – 2027 timeline
• By end use, the food segment is expected to exhibit high potential for growth in the global marking and coding equipment market. This segment is anticipated to lead the global market in terms of value and is estimated to reach a high valuation of about US$ 784 Mn by the end of the forecast period.

What is the Repercussion of COVID-19 on Marking and Coding Equipment Market?

The demand for marking and coding equipment industry as well as other equipment industry have seen a decline due to the impact of COVID-19. Across the globe, the disruption in production and supply chain of products has reduced the demand for marking and coding equipment.

Nevertheless, it has been observed that some of the big players in the pharmaceutical market opted for marking and coding equipment for essential purpose which has ultimately propel the market growth for marking and coding equipment.

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The barrier shrink bags market revenue totaled US$ 2.0 Bn for 2021, according to FMI. The overall barrier shrink bags market is projected to expand 1.4 times the current market value by the end of 2027. The demand for barrier shrink bags will accelerate with the top 5 companies estimated to hold 40-45% of the barrier shrink bags market in 2022.

Barrier Shrink Bags Market is estimated at US$ 2.1 Bn in 2022, likely to surge at a vigorous 5.7% CAGR during the assessment period 2022 – 2027.

Increasing hygiene awareness and advanced packaging technologies play a key role in growth of the barrier shrink bags market. Barrier shrink bags reduce chances of package failure and provide extra barriers for moisture, ensuring retention of aroma, and reduction of spoilage.

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Barrier shrink bags are thus an excellent packaging solution for protecting fresh meats from contamination and spoilage throughout the distribution channel. On the back of these factors, the global barrier shrink bags market is expected to exhibit a CAGR of 5.7% by value, during the forecast period of 2022-2027.

Key Takeaways of Barrier Shrink Bags Market Study

1. As per FMI analysis, high barrier films are highly preferred for food packaging, and this segment is expected to create substantial incremental revenue opportunity during 2022-2027, as it ensures tear resistance of the packages and shelf life of the food product without spillage.
2. The meat packaging segment is expected to hold a significant share of the barrier shrink bags market. This is attributable high moisture and oxygen barrier provided by these bags that ensures hygiene and longer life of meat products.
3. Side sealed bags are expected to gain significant traction, on the back of high aroma barrier and high bi-directional shrinkage quality, which gives good presentation looks to the package.
4. Higher thickness of barrier shrink bags provides extra resistance for bacteria and contamination. On the other side low thickness barrier shrink bags are easy to tear and give transparent presentation of the product. End users prefer 50 to 70 Micron thickness bags for food packaging.
5. High abuse strength segment is expected to contribute significantly to the growth of the barrier shrink bags market.
6. North America is identified the leading market for barrier shrink bags at global level. However, expansion of food industries in Asian countries is expected to offer substantial opportunities for players in the barrier shrink bags market during the forecast period.

“Key players in the global barrier shrink bags market can gain significant profits by focusing on enhancing market presence in untapped and developing countries such as China and India, attributable to expansion of food industries and hygiene awareness in this region,” says an FMI analyst.

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Barrier Shrink Bags Market Landscape

Manufacturers of barrier shrink bags face intense competition in the global market. As per FMI research, high growth of the barrier shrink bags market is expected in next ten years, attributable to cost-effectiveness and high performance functionality of barrier shrink bags.

Some of the leading manufacturers of barrier shrink bags market are

• Bemis Company, Inc.,
• Winpak Ltd,
• Kureha Corporation,
• Coveris Holdings S.A,
• Schur Flexibles Group,
• Sealed Air Corporation,
• Flavorseal Llc.,
• Flexopack S.A.,
• Globus Group,
• BUERGOFOL GmbH,
• and Allfo Vakuumverpackungen Hans Bresele Kg.

As per FMI’s market share analysis, Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A are the top five companies holding an estimated market share of 15-16% in the global barrier shrink bags market.

Barrier Shrink Bags Market by Category

By Barrier Type:

• High Barrier Shrink Bags
• Ultra High Barrier Shrink Bags

By Application:

• Meat
• Seafood
• Poultry
• Cheese & Dairy Products
• Other Foods

By Product Type:

• Round Bottom Sealed
• Straight Bottom Sealed
• Side Sealed

By Material Type:

• Polyethylene
• Low Density Polyethylene (LDPE)
• Linear Low Density Polyethylene (LLDPE)
• Polypropylene
• Polyamide
• Ethylene Vinyl Alcohol (EVOH)
• Polyvinylidene Chloride (PVDC)
• Others

By Thickness:

• Up to 50 microns
• 51 to 70 microns
• 71 to 90 microns
• 91 to 110 microns
• Above 110 microns

By Abuse Strength:

• High Abuse
• Low Abuse

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan
• Middle East and Africa (MEA)

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:
Future Market Insights, Inc
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs

According to Future Market Insights (FMI), the drum liner market would grow at a 3.9 percent CAGR between 2022 and 2030. Drum liners are used in a variety of industries, including food and beverage, automotive, and others.

The demand for industrial, chemicals, and lubricants is expected to grow at a rate of about 4% throughout the projection period, according to FMI. While the F&B sector is predicted to grow at a slower pace in 2020 due to COVID-19, demand is expected to build up progressively from 2021 onwards.

Drum Liners Market value is slated to be worth US$ 688.3 Mn by the year 2030 at a CAGR of 3.9% between 2022 and 2030.

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A similar pattern is anticipated to emerge in other regional marketplaces. During COVID-19, growth in Europe, North America, and other regions will be severely limited. However, according to FMI, demand in East Asia and South Asia will progressively increase in 2021, gaining traction from 2020 onwards and exhibiting a stronger CAGR than mature markets such as North America and Europe.

The market is likely to be driven by increased demand in industrial production and residential development. The reusability of drums, as well as their low cost, are projected to contribute to the drum liners market’s favourable growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted various industries including the drum liners market. Transport bans in several countries has restricted the need for drum liners. Limitations for the import of raw materials has also slowed down production. The market experienced a negative 1.3% CAGR during 2020.

The drum liner market is predicted to bounce back exhibiting a moderate pace of growth 2021 onwards. Following the pandemic, increasing demand for safe and hygienic garbage disposal and storage is expected to drive the market growth.

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Key Takeaways from Drum Liners Market Report

• The demand for drum liners is expected to surge in paint, inks, and dyes segment
• Increasing production and exportation of petroleum and oils has been fuelling demand for drum liners in Asia
• The demand for flexible drums forecast to rise as demand from chemical industry increases
• Design of straight-sided liners is increasingly preferred among end users
• The demand from industrial chemicals and lubricants segment will continue surging through the forecast period

Who Is Winning?

Companies operating in the drum liners market are focusing on the usage of eco-friendly materials in drum liners in order to offer improved sustainability.  For instance, Mondi, one of the prominent names in paper and packing industry, has developed one-of-its-kind sustainable polycoated kraft (PCK) paper release liner, which it plans to launch on a global scale. Mondi’s NextLiner uses recycled paper as base with coatings derived from renewable sources to leave a positive impact on environmental footprint.

Some of the key players in the market are Sealed Air Corporation, Welch Fluorocarbon Inc., Sri Lakshmi Vishnu Plastics, Spp Poly Pack Pvt. Ltd., Vestil Manufacturing Corporation, Bemis Company Inc., CDF Corporation, Heritage Packaging, Toray Industries, Allied Plastics, Mitsubishi Chemicals, Berry Plastic Corporation and Steiner Electric Company.

Rising application in logistics and transportation has been fuelling sales of multi-depth corrugated boxes. According to Future Market Insights (FMI), The global multi-depth corrugated boxes market is bound to create decent strides at a CAGR of 6.4% between 2022 and 2031, reaching US$ 1,614.2 Mn by the year 2031.

These boxes are cut down to the required size and height of the package is adjusted as per the size of the inside product. Ease of customization during packaging is a fueling factor for the growth of multi-depth corrugated boxes market across various regions.

The demand for multi-depth style corrugated boxes is rapidly increasing, as these boxes save valuable storage space when the sides of the boxes are folded as per the need without using special carton sizing tool. The food and beverages industry accounts for maximum sales of corrugated boxes.

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Key Takeaways of Multi-Depth Corrugated Boxes Market Study

• Driven by rising demand from various industries, the multi-depth corrugated boxes market is forecast to exhibit 6.4% CAGR between 2021 and 2031
• Within North America, the U.S. is expected to account for over 91% of the sales
• The U.K. is projected to register negative growth at -0.8% in 2021 following COVID-19 outbreak. Recovery is on card 2022 onwards
• The demand from Germany and France is expected to remain high through the forecast period
• China will continue dominating sales in East Asia, while demand from Japan and South Korea is projected to rise at a positive rate

“Most of the secondary packaging material goes directly to waste bins, ending up in landfills or water bodies. With soaring protests against hazardous packaging waste polluting the eco-system, manufacturers and consumers both are concerned about reducing their share of toxic waste generated. Sustainability factor of multi-depth corrugated boxes has been favouring their sales in response to the increasing demand for environment-friendly packaging” says an FMI analyst.

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Demand for High Performance Packaging

Development in packaging material is an important factor enabling growth in the packaging market. High-performance packaging has been developed with robust barrier characteristics and intelligent components. Adapting new changes in packaging material is intended at extending the shelf life of the product.

High-performance packaging material includes high barrier material, intelligent packaging, and nanotechnology. High-performance boxes are mostly manufactured from composite and recycled material to maintain sustainability. These boxes are capable of meeting various requirements to provide effective and ideal packaging solution.

The rising demand for light-weight and product-apt packaging has led to immense growth in the demand for multi-depth corrugated boxes in the market. Corrugated packaging is affordable, convenient, and offers required strength. Heavy-duty corrugated packaging is in high demand due to the rise in transportation and usage of bulky goods like heavy machinery and components for various industries. Double and triple-layer corrugated boxes are highly customized and designed as per customer requirements.

Who is winning?

Georgia-Pacific LLC, International Paper, DS Smith Packaging Limited, Oji Holdings Corporation, Pratt Industries, Inc., Acme Corrugated Box Co. Inc., Great Little Box Company Ltd., A.D. Inc. of Milwaukee, WestRock Company, Smurfit Kappa Group Plc, Uline, Inc., Shillington Box Co., LLC. are some of the leading players in the multi-depth corrugated boxes market.

Key Segments Covered in Multi-Depth Corrugated Boxes Industry Research