Filling Machinery Market Forecast and CAGR
According to latest research by Fact.MR, filling machinery market is set to witness high growth during 2021-2031. Demand for filling machinery is anticipated to be rising, as of surging demand for packed food products, skin care and cosmetics and others.
With the applications in wide variety of industries such as pharmaceutical industry, food & beverage industry, these machines are likely to gain traction over the forecast period. In addition the increasing emphasis of governments on the advancement of small and medium-sized businesses is projected to create potential growth opportunities for the filling equipment industry.
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What are Demand Driving factors for Filling Machinery?
The increased demand for food and beverage industries and pharmaceutical products has prompted manufacturers to ramp up their production chains. As a result, there is a rise in demand for filling equipment that allows for fast filling of material while retaining volume and weight consistency in containers such as package, pack, pouch, and bottle.
Customers all over the world are shifting their tastes to goods that are readily accessible and come in limited quantities. Customers demand hygienic and high-quality goods that are transported, from personal care and cosmetics to food and beverages. This factor attribute to the untouched filling and packaging, which drives market for the filling machines.
What are possible setbacks for Filling Machinery?
The high cost of filling equipment is expected to obstruct the development of the filling equipment industry. The high expense is mostly due to the nucleation of the devices using programmable logic controllers (PLC), input mechanisms, and the use of the software. Furthermore, some pharmaceuticals operate in a caustic atmosphere and need filling equipment that can sustain the corrosive nature, which makes this machinery more expensive.
Over the past few months, the industrial industry has undergone highs and lows due to a variety of factors including a trade dispute between the United States and China, nation-state protectionist policies, and the withdrawal of a few countries from inter-state trade deals. This has had an impact on the growth of the packaged food and beverage sector’s import and export market. As a result, filling machinery continues to be a primary concern.
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Regional Filling Machinery Market Outlook
The United States is one of the prominent region for filling machineryin historical period. The US filling machinery market has grown significantly over the last few years, owing to the country’s developed economy and position as a pioneer in the pharmaceutical industry. Demand is expected to remain strong for the near future as a range of end-use markets gradually recover from Covid pandemic.
However, the Asia Pacific region is expected to replace the North American region’s market dominance over the forecast period. The filling machine market in this area is projected to expand due to rising demand for convenience foods along with an increasing population.
How COVID-19 does impacted the Filling machinery market?
The COVID-19 has wrecked the global and regional economies, which impacted almost all industries and nations. The filling machines have experienced quite a less downfall with the uncertainties like halted manufacturing and processing of machines. Even though facing huge impact at the COVID-scenario, these unfavorable situations are likely to be temporary and will be damped over a certain period of time.
Although the filling machines have major downfall over the second quarter of year 2020, as of COVID lockdown, the demand immediately spiked at the third and fourth quarter. The growth of pharmaceutical industries over the pandemic time has propelled the demand for filling machines has escalated as of application of filling medicine, for instance demand for COVID vaccine is very high and production is less. This situation caused a demand and supply gap which made filling machines to escalate in growth. In addition growth in packed food industries like snacks, quick food and others has increased the demand.
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Who are the Key Manufacturers and Suppliers of Filling Machinery?
Some of the leading manufacturers and suppliers of filling machinery include
- Accutek Packaging Equipment Companies Inc.
- GEA Group
- Ronchi Mario
- Salzgitter AG (KHS Group)
- Tetra Laval International
- Barry-Wehmiller Companies Inc.
- Robert Bosch
- Syntegon Technology
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