Overview of the beverage packaging machinery market
According to the market research analysts at Technavio, the global beverage packaging machinery market will witness impressive growth and will post a CAGR of close to 7% during the forecast period. The expansion of the brewing industry is one of the significant factors propelling the growth prospects for the beverage packaging machinery market. The easy availability of low-cost skilled labor in countries like China and Mexico has facilitated the bulk production of beer in the world. The US and Brazil are also some of the leading beer producing countries in the world. Some of the primary factors driving the demand for beer in APAC include rapid economic development, changes in consumer spending, and a sharp rise in disposable incomes. On the other hand, India is a hard liquor market and an estimated 40% of the total whiskey consumption in APAC occurred in India during 2015. Besides, over the past few years, there has been a surge in the number of microbreweries in major urban cities in India, which is expected to boost the consumption of beer in the APAC region. With the increase in the consumption and production of beer in APAC, the demand for beverage packaging machinery should increase in the coming years.
The augmented use of robotic packaging machinery is one of the latest trends gaining significant traction in the market. Fully automated robotic packaging machinery provides flexibility with regards to throughput in volume and consistency. The majority of robotic machines are equipped with advanced monitoring and control capabilities to maintain packaging lines and reduce energy consumption. Moreover, technologically advanced machinery uses real-time data collected from different machines to opimize output. Also, robotic packaging machinery helps reduce wastage of packaging materials, reduce carbon footprint, and ensures timely rectification of operational problems. For example, Bosch launched the next generation of delta robots for packaging solutions in 2014, which primarily focussed on better performance and considerably reduced the total cost of the company.
Competitive landscape and key vendors
The global beverage packaging machinery market is highly competitive and fragmented with the presence of several well-established vendors around the world. Although many local vendors are emerging in this market, they find it difficult to compete with international vendors in terms of quality, durability, and reliability. The competitive environment of the market is likely to intensify with an increase in technological innovations and mergers and acquisitions in the future.
Key vendors in this market are -
Other prominent vendors in the market include Duravant, Bajaj ProcessPack Limited, Combi Packaging, Nichrome Packaging Solutions, and Coesia.
Segmentation by application and analysis of the beverage packaging machinery market
- Alcoholic beverage
- Non-alcoholic beverage
In terms of revenue, the non-alcoholic beverage segment dominated the market during 2016 and is likely to continue its dominance over the next four years. Innovations in different types of drinks, expansions in product portfolios, and an increase in the preference for natural ingredients and low calorie drinks will boost the non-alcoholic beverage segment, which will indirectly boost the growth of the non-alcoholic beverage packaging machinery segment until the end of 2021.
Geographical segmentation and analysis of the beverage packaging machinery market
During 2016, the APAC region led the global beverage packaging machinery market and will continue to lead the market over the next four years. Increasing health awareness and preference for functional drinks are some of the key factors driving this market’s growth in the region. Moreover, an expanding population and sharp rise in disposable income in emerging economies like India and China will contribute to the growing demand for non-alcoholic beverages, such as CSD, juices and concentrates, RTD tea and coffee, and functional drink, which will, in turn, drive this market’s growth in the region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global beverage packaging machinery market?
- What are the key market trends impacting the growth of the global beverage packaging machinery market?
- What are the challenges to market growth?
- Who are the key vendors in the global beverage packaging machinery market?
- What are the market opportunities and threats faced by the vendors in the global beverage packaging machinery market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global beverage packaging machinery market?
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