The packaging equipment market is expected to surpass $50 billion by 2027, as reported in a research study by Global Market Insights Inc. Growing demand in the packaged food & beverage industry is poised to fuel the industry growth.
Strict government regulations on the packaging of cosmetic products will boost the industry demand. To avoid illegal practices & ensure consumer safety, governing bodies are implementing stringent acts for the cosmetics & personal care industry players. In the U.S., under the Fair Packaging and Labeling Act, the Federal Trade Commission and the Food and Drug Administration are authorized to issue regulations on all consumer commodities products. The scope of the Act includes prohibiting the marketing of misbranded or adulterated cosmetics in interstate trade.
The growing emphasis on expansion will surge the packaging equipment market revenue in the Middle East & Africa region. To increase production and supply of products, industry players, such as Al Bayader International & Gulf Printing and Packaging, are opening new facilities.
The increasing utilization of e-commerce platforms, such as Alibaba, Flipkart, Instacart and Amazon.com, for ordering staples, home essentials, vegetables, food, clothing, hot & cold beverages will augment the packaging equipment market demand.
The rising demand for personal care & beauty products including lotions, deodorants, hair dyes, cosmetics, creams and lipsticks, has surged the market demand for advanced packaging equipment to avoid tampering and spillage during transport.
The pharmaceutical industry is developing to address different diseases including COVID-19, respiratory illness & cancer. This factor has boosted the export of medicines to under-developed/developing countries such as Africa, Liberia and Niger, in turn, supporting market demand.
The packaging equipment market will witness growth owing to a rising focus on integrating automation in the packaging line to improve activity efficiency. It supports organizations in increasing their product production to maintain the supply & demand ratio.
The growing emphasis on developing sustainable manufacturing practices will propel the demand for energy-efficient packaging equipment. It supports manufacturing facilities to reduce the overall operational costs.