Despite the tight grip of worldwide economic uncertainty on the broader packaging industry, the high-performance packaging machinery market continues to flourish, driven by the need for convenient, innovative, and smart packaging solutions.
Consumers are increasingly demanding innovative packaging solutions that entail improved resistance to moisture, shock and vibration, while retaining aesthetic properties, adaptability and economy.
Packaging is a highly versatile facet of a product, which can be easily attuned to changing consumer preferences. The packaging industry is benefiting to a large extent from increasing consumption spurred by continued growth and higher disposable incomes in developing markets worldwide.
Enhanced automation, integration, remote diagnostics, faster changeover, versatility and shorter turnaround times are key determinants of market growth.
The global packaging machinery market is led by wrapping machinery, while the ageing population, shorter innovation cycles of drugs, and tightening legislations of packaging are likely to increase sales of blister packaging machinery.
The global packaging machinery market is huge and highly fragmented. Competition within the industry is generally on the basis of technological sophistication, customer service, and performance parameters. Globally, no individual company claims a significant market share.
Industry leaders include Marietta, Georgia-based Graphic Packaging, R.A. Jones & Co. in Covington, Kentucky, with about 430 employees; Angelus Sanitary Can Machine Co. of Los Angeles; and Birmingham, Alabama-based Better Packages.
For more information on the global packaging machinery market, see the latest research: Global Packaging Machinery Market