Box Filling Machine Market to Reach a Valuation of US$ 148.5 Million in 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
North America is expected to be the key contributor to the growth of the global box filling machines market accounting for 14% of the market share. The U.S holds the highest market share and revenue potential in the box filling machine market due to an increase in alcohol consumption that increases the production of filling machines
NEWARK, Del, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The global box filling machine market is projected to reach US$ 148.5 Mn in 2032, with sales growing at a stagnant CAGR of 3.6% over the forecast period of 2022 to 2032. Valued at an estimated US$ 104.3 Mn in 2022, the box filling machine market is fueled by rising demand for consumer products and the adoption of standardization and modularity techniques.
Nowadays, boxes are preferred alternatives to bottles as they are far more appealing and convenient. Boxes are swiftly gaining traction as effective single-use packaging solution which ensures a longer shelf life of the product. As boxes are in much demand and more and more people are looking for convenient and attractive packaging solutions that also extend shelf life, the box-filling machine market is also predicted to expand at a steady rate over the next few years. Box filling machines are used to fill boxes with liquids, solids, and semi-liquids and are extensively used in food and beverages, pharmaceutical, chemicals, and personal care industries among many others.
Heightened demand for various consumer goods propels the box filling machine market. Due to a fast-paced and urban lifestyle, consumers often opt for products that are convenient, ready-to-use, and attractive. This has led to a surge in the adoption of box filling machines. Additionally, various packaging brands are seeking to cater to all the needs of their widening consumer base. These brands aim to do so by using innovative techniques and utilizing different packaging formats. This, too, bodes well for the box filling machine market.
Further, the implementation of government safety regulations has resulted in many businesses adopting standardized machinery in packaging facilities. Consequently, due to the application of such machinery, many end-users are likely to benefit from lower prices and reasonable purchasing chances. This has led to the opening up of many attractive market opportunities for the box filling machine market over the projected period.
However, the target market is not without its share of challenges. High investment requirements and maintenance costs can severely hinder the growth and expansion rate of the box filling machine market.
“Increasing adoption of box filling machines in various industry verticals like food, dairy, beverages, personal care, chemicals, and others is expected to stimulate the global market growth of box filling machine over the forecast period,” says an FMI analyst.
An upsurge in demand for consumer-driven goods will likely boost the market potential over the assessment period.
Alternate packaging options may hamper the market growth over the forecast period.
North America is likely to be a crucial contributor to the market over the assessment period, accounting for nearly 14% of the total market share.
The box filling machine market in Europe is expected to hold about 18% of the market share.
Start-up ecosystem in the market is focusing on releasing technologically enhanced box filling machines.
Competitive Landscape
Smurfit Kappa Group, ABCO Automation, Inc., DS Smith Plc, Technibag, Flexifill Ltd., and Engi-O among others are some of the chief players in the box filling machine market that are profiled in the full version of the report.
Major market players are keen on employing tactics like mergers and acquisitions to strengthen their hold on the market. Product development and new product releases. These organizations are focused on product development and offering different varieties of the target product.
More Insights into the Box Filling Machine Market Report
In its latest report, FMI offers an unbiased analysis of the global box filling machine market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (high-speed fillers, semi-automatic fillers, manual fillers, rotary fillers, custom box fillers), speed (less than 20 boxes per minute, 20 to 40 boxes per minute, 40 to 60 boxes per minute, more than 60 boxes per minute), application (wine/ spirit filling, beverage filling, soap/ detergent filling, petroleum filling), and region.
According to the latest FMI reports, based on region, the box filling machines market in North America is predicted to exhibit considerable growth accounting for about 14% of the overall market share. Heightened consumption of alcohol and the immense stronghold of the food and beverage industry in the U.S. fuel the market growth in this region over the forecast period.
In Europe, the box filling machines market is anticipated to account for 18% of the total market share. It is projected that the region will display moderate market growth over the assessment period. Escalating demand for hygienic and convenient products from industry sectors like personal care, food and beverages, etc., is expected to drive the regional market growth.
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