The global packaging machinery market is projected to reach US$40.3bn by 2012 according to a new report by Global Industry Analysts, Inc.
Demand for packaging machinery is fuelled by emerging trends of packaging as a marketing tool and escalating consumer preferences for package convenience and product information.
Product and technological innovations, rising equipment standardisation and mounting packaging concerns are characteristic of new trends in the industry.
Growth in the packaging of consumer goods, pharmaceuticals and cosmetic products is expected to be robust due to the aging population in industrialised countries and increasing affluence of developing economies in Eastern Europe, Asia-Pacific and Latin America.
Value-added packaging is the most predominant global market trend that is driving demand for new and efficient machinery.
In addition, the advent of new technologies, development of complex packaging materials, trends in food consumption and preparation, and design, shape, reusability, size and convenience of packages have a profound impact on the structure and performance of the machinery market.
Integration, automation, standardisation, environmental safety, versatility, shorter turnaround times and faster changeover continue to be the key growth drivers in the global packaging machinery market.
The European market for packaging machinery, the world's largest, is estimated at US$12.7bn, according to Global Industry Analysts.
US and Europe collectively account for nearly 60 per cent of the global packaging machinery market.
Global form-fill-seal machinery market is estimated at US$5.3bn.
The coding/marking/labeling machinery market in Asia-Pacific is projected to grow at a compounded annual rate of 8.6 per cent over the period 2000-2010.
Packaging Machinery: A Global Strategic Business Report includes data from Barry-Wehmiller Companies, Accraply, B&H Labeling Systems, Dover Corp, Harland Machine Systems, Krones AG, MeadWestvaco Corp, Robert Bosch GmbH Packaging Technology, Scandia Packaging Machinery, SIG Combibloc, Strapack Corporation, Tetra Laval, Sidel SA, Tetra Pak and Winpak Ltd.
The report provides a comprehensive review of market trends, drivers, product profile, players, competition, technological developments, recent developments, mergers, acquisitions, and other strategic industry activities.
Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East.
