Pouch Packaging Machinery Market: COVID-19 Business Continuity Plan | $1.73 Billion Incremental Growth amid Recession | Technavio

The global pouch packaging machinery market is expected to grow by USD 1.73 billion, progressing at a CAGR of over 5% during 2020-2024. Technavio estimates the market to have a neutral impact due to the spread of COVID-19. Although, the market demand might have reduced due to the imposition of lockdowns and the shutdown of various businesses, the growth of end-user industries such as food, cosmetics, and pharmaceuticals are expected to provide significant opportunities for vendors during the forecast period.

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Technavio has announced its latest market research report titled Global Pouch Packaging Machinery Market 2020-2024 (Graphic: Business Wire)

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"One of the primary growth drivers for this market is the focus on improving accuracy & efficiency of filling pouches”, says a senior analyst for the Industrials industry at Technavio. It is crucial to maintain the accuracy and efficiency of operations in end-user industries such as food, pharmaceuticals, and personal care. Any improper or under-filled pouches might result in product recalls or loss of brand reputation. Hence, end-users across these industries are increasingly adopting pouch packaging machinery to reduce maintenance and uptime while maximizing operational throughput. This is expected to foster the growth of the market during the forecast period.

Pouch Packaging Machinery Market Segment Highlights for 2020

• The pouch packaging machinery market is expected to post a year-over-year growth rate of 4.53%.
• Based on the product, the market saw maximum growth in the HFFS segment in 2019. The growth of the segment can be attributed to the increased adoption of HFFS pouch packaging machinery for packing solid and single-item products such as small toys, candy bars, and soap bars.
• The growth of the segment will be significant in the HFFS segment during the forecast period.

Regional Analysis

• 39% of the growth will originate from the Europe region.
• The growth of the market in Europe will be driven by the increased sales of cosmetics and personal care products during the forecast period.
• Germany and France are the key markets in the pouch packaging machinery market in Europe. The market growth rate in this region will be slower than that of APAC during the forecast period.

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Global Food Packaging Machinery Market - Global food packaging machinery market segmentation by type (FFS, labeling and coding, wrapping and bundling, and others) and geography (APAC, Europe, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

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Notes:

• The pouch packaging machinery market size is expected to accelerate at a CAGR of over 5% during the forecast period.
• The pouch packaging machinery market is segmented Product (HFFS, VFFS, and SUP) and Geography (APAC, Europe, MEA, North America, and South America).
• The market is fragmented due to the presence of many/few established vendors holding significant market share.
• The research report offers information on several market vendors, including Barry-Wehmiller Companies, Coesia Spa, Duravant LLC, GEA Group AG, PFM Packaging Machinery Spa, Robert Bosch GmbH, Salzgitter AG, Sealed Air Corp., Viking Masek Global Packaging Technologies, and Winpak Ltd.

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