Filling Equipment Market Outlook
Filling Equipment market research, from 360 Market Updates (www.360marketupdates.com), is provided on major factors such as consumer needs and changes observed in them over time, market sales in terms of value and volume, emerging opportunities, market growth trends, factors driving this market, threats associated with them and market performance of key vendors along with key regions. Industry experts project the filling equipment market to grow at a CAGR of 5.32% during the period 2017-2021.
Filling equipment is widely used in the packaging of various products, particularly food and beverages. Based on the product, filling equipment is used to fill either a pouch or a bottle. Filling machines find applications in the manufacturing industry to promote quality and efficiency of the manufacturing processes. Filling equipment is used to fill plastic bags, cartons, and bottles with the precise amount of product as per the weight/volume.
One trend in the market is increasing domestic shipments of packaging machinery in U.S. The U.S is one of the largest markets for shipments of packaging machinery, the value of which is expected to increase to approximately $8 billion by 2020. The high growth in this sector is mainly due to the increase in the demand from the food and beverage sector.
One challenge in the market is increased concerns over hygiene and safety of machinery parts. Packaging extends the shelf life and preserves the quality of products. Equipment used for beverage packaging should have features such as easy cleaning and sanitary processing. Food regularly comes in contact with various surfaces throughout the packaging line. Therefore, manufacturers prefer packaging equipment that is designed to maintain the strict hygiene standards. It is mandatory for equipment to have an auto-drain option, as residual liquids can lead to microbial growth while leftover cleaning fluids can contaminate products.
One driver in the market is rise in global packaging machinery market. The global packaging machinery market was valued at $40.93 billion in 2016 and is expected to reach $56.37 billion by 2021, growing at a CAGR of 6.61%. The global packaging machinery market has witnessed increased adoption due to factors like the growing applications of packaging machinery in a wide range of industries such as food and beverage, cosmetics, healthcare, and other consumer goods as well as a range of industrial sectors where packaging has become essential, owing to its increasing use in sync with the global economy.